Shift from high-quality decision making to high-velocity decision-making.

17
Shift from high-quality decision-making to high-velocity decision-making. by nis frome

Transcript of Shift from high-quality decision making to high-velocity decision-making.

Page 1: Shift from high-quality decision making to high-velocity decision-making.

Shift from high-quality decision-making to high-velocity decision-making.

by nis frome

Page 2: Shift from high-quality decision making to high-velocity decision-making.

Nis FromeEnabling product teams to experiment fasterCo-founder & Head of Content at [email protected] // @nisfrome

product content

2

This Is Product Management

Product Management Insider

about me

Page 3: Shift from high-quality decision making to high-velocity decision-making.

3

objective

The goal is to understand the benefits of and install a framework for

high-velocity decision-making.

Page 4: Shift from high-quality decision making to high-velocity decision-making.

4

background

“...this is Day 1 for the internet.”

Page 5: Shift from high-quality decision making to high-velocity decision-making.

5

alternative OS’s

Page 6: Shift from high-quality decision making to high-velocity decision-making.

6

verdict: day 2

• 1/3 of products are delivered late or incomplete due to slow decision-making

• Speed of decision-making is primary challenge with regard to communication

• For every 60 minutes a product team works, they spend 48 minutes waiting on decisions to be made.

Source: Forrester Consulting, Gartner, and Forrester

Page 7: Shift from high-quality decision making to high-velocity decision-making.

7

verdict: day 1

Page 8: Shift from high-quality decision making to high-velocity decision-making.

8

installation

Here’s the manual to get started:

Balancing OS’s Risk Matrix

Fear Tactics

Data Availability

Organization Team You

Pace YourselfConsistent Vision

Page 9: Shift from high-quality decision making to high-velocity decision-making.

9

org: balancing OS’s

Day 1 and Day 2 actually aren’t mutually exclusive operating systems.

“Pockets of Day 1” within a Day 2 framework.

Day 1:• Permission to experiment• Innovation labs

Day 2:• Hiring• Existing products

Page 10: Shift from high-quality decision making to high-velocity decision-making.

10

org: fear tactics

Don’t be afraid to confront the status quo if that’s the only way to make an impact.

• Know the stats (Fortune 500 turnover)• Know the stories (“Kodak Moment”)• Know the enemy (Upstarts)• Know the solution (How to get one step ahead)

You’re hemorrhaging pizza.

Page 11: Shift from high-quality decision making to high-velocity decision-making.

11

team: risk matrix

Have an explicit conversation about the costs and benefits of speed.

Don’t treat reversible decisions like they’re irreversible.

Costs:• Quantify the

ramifications of being wrong

• Quantify the ramifications of being slow

Benefits:• Articulate the benefits of

speed and iteration• Confront the ‘back-

channeling naysayers’ Source: First Round Review

Page 12: Shift from high-quality decision making to high-velocity decision-making.

12

team: consistent vision

Offering a shared vision aligns team members and eliminates hesitation.

Knowing why can inform what, when, and where.

OKRs Tasks

>

Page 13: Shift from high-quality decision making to high-velocity decision-making.

13

you: data availability

Reactive experimentation slows down decision-making. Generate data proactively.

% of PMs that experiment on an ad hoc basis(per our survey of 140 PMs)

Page 14: Shift from high-quality decision making to high-velocity decision-making.

14

you: pace yourself

Change happens slowly and unnoticeably so don’t burn the candle from both ends.

It’s a marathon – not a sprint.

Page 15: Shift from high-quality decision making to high-velocity decision-making.

15

applications

Leverage high-velocity decision-making in high-impact low-risk areas.

Selecting which API service to use

Splitting responsibilities amongst team members

Increasing release frequency

Create sales decks before building a new product

Page 16: Shift from high-quality decision making to high-velocity decision-making.

16

resources

Further reading for product managers who want to move faster:

How do product teams embrace high-velocity decision-making?

How companies can learn to make faster decisions

This matrix helps growing teams make great decisions

Page 17: Shift from high-quality decision making to high-velocity decision-making.

17

your turn

Identify opportunities to shift from high-quality decision-making to high-velocity decision-making.