Project initiation is the most important part of the product process, in this article, the author shares with us the entire method of product project initiation, including precautions and content templates, for your reference.
This article focuses on the research and decision-making stage before the project is implemented, and the main content revolves around [product project approval], which is divided into:
- Overall description of the product project: what it is, core objectives, adaptation scenarios, processes, etc
- Precautions for project initiation report
- Project initiation report content template
1. Overall description of the project establishment report
2. Precautions for project initiation report
1. Core objectives: From the perspective of users, products, competition, market, opportunities, technology, ability matching, return on investment, risk, etc., is this project worth doing, and why? It is convenient for the company's senior management/investors to judge whether the project is worth investing in
2. We should think in a closed-loop from the perspective of "supply, production and marketing", and don't fall into the box of only thinking about whether the product can be made. It is not difficult to make a product, but the difficult thing is how to sell in a competitive environment, survive, and improve profit margins.
3. In addition to the product itself, user service capabilities and content capabilities are also the core indicators or important capabilities of the whole project.
Therefore, there should be plans and goals for the construction and use of these services/contents. For example, how are these services/contents structured? How can it be sustainable? How to achieve its growth flywheel? how to build relevant barriers, etc. Of course, the relevant inputs, objectives, plans and processes are also described.
3. Project establishment report template
1. Project overview
Project Background and Application Status: Briefly describe the target group of the project, the product/service to be created, and why it is being done
Value to the company: the relationship between the project and the company's business direction, company positioning, strategic objectives (occupy the market/supplement the commodity matrix/strategic planning/corporate image/new business incubation...) ）
2. Market analysis
1. Customer pain points and demand analysis: product feasibility (authenticity of demand, user's willingness to pay), user attributes, consumption capacity, and market space
2. Competitive analysis: competitive feasibility (analyze one's own value with the help of the opponent's ability characteristics, design one's own advantages and competitiveness)
3. Program blueprint - project entry direction and ability
1. Business model: business model description + business model diagram
2. Product capabilities: business scenarios, core capabilities and basic capabilities
It can supplement and adapt product functions from each stage of business scenarios or user requirements, and explain which ones have been completed and which ones need to be built
3. Product competitive advantage: why this entry direction? Product competitiveness, purchase attraction, technical barriers, and ecological barriers
4. Risk analysis
4. Project plan
1. Project break-even analysis: the conditions for calculating break-even
2. Project OKR: Set quarterly goals
3. Product architecture: the business relationship diagram of the project under the multi-module of each software and platform to see how the whole project operates; Which products are done and which are about to be done
4. System architecture
5. Project implementation plan: combined with the objectives of each stage + input + output
6. Organization and personnel allocation: business group, program group, R&D delivery group, test operation and maintenance group
5. Investment budget
1. Workload and income estimates:
- Cost: labor cost and resource cost of the production and research team
- Revenue: Dismantling income items, estimated revenue
2. Benefit analysis:
- The core value of the business: the achievement of performance target estimates, revenue tools, monetization capabilities, etc
- Under the organizational structure, the role of the business in supporting other businesses (analysis of the benefits and value of the business to the organization as a whole)
6. Deliverables and acceptance criteria
7. Decision-making items
Specific matters to be decided by the project leader or the review committee can be stated here for further discussion
This article was originally published by @刘一手 on Everyone is a Product Manager. Reproduction without the permission of the author is prohibited.
The title image is from Unsplash and is licensed under CC0.
The views in this article only represent the author's own, everyone is a product manager, and the platform only provides information storage space services.