Part 1: Foundations of the Activity

Section 2: Understanding the Activity: Scope and Objectives

The activity of defining strategic vision and success metrics is pivotal in the realm of product management, particularly for a Product Owner tasked with steering the product towards achieving its business goals. This section aims to elucidate the scope and objectives of this activity, underscoring its significance within the broader product management strategy.

Scope: The scope of this activity encompasses the development of a comprehensive strategic vision for the product, aligned with the organization’s goals and market opportunities. It involves identifying the core value proposition of the product, understanding the market dynamics, and recognizing the competitive landscape. Furthermore, it includes the establishment of key success metrics that will serve as indicators of the product’s performance in the market.

Objectives: The primary objectives of this activity are to:

  • Articulate a clear and compelling strategic vision that guides the product development efforts and communicates the product’s intended direction to stakeholders.
  • Identify and define the key metrics that will be used to measure the product’s success, ensuring these metrics are aligned with the strategic vision and business objectives.
  • Facilitate a deeper understanding of the product’s market, including customer needs, competitive threats, and potential opportunities, to inform strategic decision-making.
  • Empower the Product Owner to make informed decisions that drive the product towards achieving its business goals, leveraging the strategic vision and success metrics as foundational tools.

This activity is integral to the strategic domain of product management, serving as the foundation upon which product development and management decisions are made. By effectively understanding and implementing this activity, Product Owners can ensure that their products not only meet the current market needs but are also positioned for future growth and success.