Here are my top 5 (but simple to use) decision making frameworks:
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1. SWOT 2X2 matrix
Extremely helpful when comparing one company's strong and weak points vs another company or in general within the industry.
Utilise this to understand product/company positioning before diving into problem statements.
Extremely helpful when comparing one company's strong and weak points vs another company or in general within the industry.
Utilise this to understand product/company positioning before diving into problem statements.
2. BCG Growth Matrix
Gives a good starting point to know the positioning of your product w.r.t its growth rate and its market share.
Try move the product from Question Marks -> STARS -> Cash Cows. And if a product has been a (DOGS) for a long time, best to kill it.
Gives a good starting point to know the positioning of your product w.r.t its growth rate and its market share.
Try move the product from Question Marks -> STARS -> Cash Cows. And if a product has been a (DOGS) for a long time, best to kill it.
3. Effort vs Impact for prioritisation
Impact is determined by the product/feature's impact on customers measured through key metrics , whereas effort involves all tech/ non-tech effort/
Plotting all features on this matrix will give you a relative idea of what todo next.
Impact is determined by the product/feature's impact on customers measured through key metrics , whereas effort involves all tech/ non-tech effort/
Plotting all features on this matrix will give you a relative idea of what todo next.
4. Urgent vs Important
This is a great matrix to manage your time (not recommended for prioritising product work). If your schedule is always packed, start categorising your to-do tasks into these 4 quadrants and then decide what to do, plan, delegate or just eliminate.
This is a great matrix to manage your time (not recommended for prioritising product work). If your schedule is always packed, start categorising your to-do tasks into these 4 quadrants and then decide what to do, plan, delegate or just eliminate.
5. Gartner's Magic Quadrant
helps visualize the progress and positions of companies in a specific, technology-based market.
You can plot companies in your ecosystem to know where they stand and where you stand.
helps visualize the progress and positions of companies in a specific, technology-based market.
You can plot companies in your ecosystem to know where they stand and where you stand.
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