Week 2

Metric measurements for fulfillment of strategic goals

1. Evaluating user engagement with the product 2. Measuring stakeholder and customer satisfaction via surveys 3. Tracking user adoption of the product by using sales data

Preventing Scope Creep

1. Get clarity on project requirements 2. Make project plans visible 3. Create a plan for out-of-scope requests.

Determining Project Success

1. Identify measurable aspects of project ( budget, schedule, deliverable costs ) 2. Clarity from stakeholders on expectations

How to score OKR's

1. Score based on a percentage of the objective completed, the completion of certain milestones, or a scale of 1 to 10 2. "traffic light" scoring approach, where red means you didn't make any progress, yellow means you made some progress, and green means you completed your objective. 3. "yes/no" method, with "yes" meaning you achieved your objective and "no" meaning you didn't. 4. 0.0 to 1.0, with 1.0 meaning the objective was fully achieved. Each individual key result is graded and then the grades are averaged to determine the score for that OKR.

Metric measurements for product success

1. Track if you implemented the product's priority requirements 2. Track and assess the product's number of technical issues or defects 3. Measure the percentage of features you delivered or released at the end of the project

Situation 3

After the stakeholders agree on the project scope, Ria finds out that her CEO wants more information in the research report. She asks you to include details on the market opportunities for new product ideas, technical constraints, and design considerations.

Assign owners

Assign an owner to every key result so that everybody knows who's responsible for what. This helps add clarity and increases accountability.

Share your OKRs with your team.

Communicate to your team so that everyone knows how to focus and align their efforts. Sharing a digital document, presenting them in a meeting, or adding them to an internal website. OKRs can help your project team stick to its goals, monitor which are falling short, and be continuously motivated to meet project objectives.

Situation 3 answer

Decrease the time: If you can cut the depth of the initial market research, you will shave a few days off the project. This will allow additional time to work on the information on new products at the end of the project. Increase the cost: If Ria can agree to increase the project budget to accommodate her CEO's request, you can add additional team members to work on the expanded scope and meet the existing project timelines.

Launching

Delivering the final results of the project to the client or user.

Situation 1

During the scoping of this project, Ria says her budget maxes out at $650,000 USD—she can't afford the $800,000 USD that this project will cost. What are some proposals you can provide to Ria to reduce the budget?

Adoption

How a customer adopts a service/product without issues.

Situation 2 answer

Increase the budget: If you can increase the budget and add an additional field researcher, you could complete the research faster and meet the hard deadline. Cut the scope: If you can eliminate sections in the research report, you could save time. Or, similar to the example above, cut the workshop to a 1-day workshop to meet the deadline

Reviewing quality

Product attributes that are necessary for the product's success include completeness in features, quality of features, unit cost, usability and extent that a product is complete.

Situation 2

Recruiting for field research will take a week longer than expected. However, Ria told you that the project end date is a hard deadline. What can you do?

Situation 1 answer

Reduce the scope: Maybe you can convince Ria to have a 1-day workshop instead of a 3-day workshop. This will help trim the budget. Reduce the time: If you can deliver just the research report presentation instead of a 3-day workshop, you can trim the budget by shaving-off the three workshop days. This also reduces the time you need to prepare for the workshop.

Schedule checkpoints

Regularly communicate the status of project OKRs with your team and senior managers. Monthly check-ins on the progress of OKRs to give both individuals and your team a sense of where they are. Typically, at the end of the quarter, you'll grade each of your OKRs to evaluate how well the team did to achieve its goals.

Modern Triple Constraint Model

Scope Quality Schedule Budget Benefit Risk

Success Criteria

Standards by which the project will be judged once it's been delivered to stake holders. Tells you whether the project was successful.

In-scope

Tasks contributing to project goal

Out-of-scope

Tasks that don't contribute to a project goal

Triple Constraint Model

The Triple Constraint model is a type of management style that helps teams, no matter what market or field they're in, understand the aspects of a certain project and how to select the most important aspect to the project at any time.

Landing

Thoroughly measuring the results after launching

Scope creep

project's work starts to grow beyond what was originally agreed upon during the initiation phase

Triple Constraint Model

time, cost, scope