EBM: Evidence Based Management

 Manual here



The Evidence Based Management allows users to empirically measure, manage, and maximize a product. This framework is defined by four values:

1. Unrealized Value

This requires some legwork. Organizations need to measure opportunities where customers are underserved. 

2. Current Value

This is the value the product brings to its current users, customers, employees, and investors. 

3. Ability to Innovate

Organizations need to identify new markets and measure room for procedural innovation, product innovation, as well as market disruptions. 

4. Time to Market

Organizations measure their agility, or responsiveness to the market. For instance, how often they roll out updates/new products and how soon they are able to identify and act on new information. 


Comments

Post a Comment

Popular posts from this blog

Notes from The Five Traditional Process Groups Explained

Image
 Original article here 1 - Initiating - This is where the project is formally authorized by the sponsor, initial scope defined, and stakeholders identified. - It is important that the PM is formally authorized at this point, as PMs have a lot of accountability and little authority.  2- Planning  - PMBOK outlines 24 discrete processes involved in planning  - Significant idea is to think through the process in advance 3 - Executing  - Since the project team is important in execution of the process, it is also important that cultivating the team is as well. 4 - Monitor and Control - One way to think about monitoring and controlling is to imagine that you were driving across the country according to your plan or a roadmap. But if you got lost and you didn't have a GPS you'd stop, ask for directions and get back on track, or maybe based on new information, such as a new road that would cut hours off the trip, you'd change or update your plan. 5 - Closing  -  The project manage
Read more

XP: Card, Conversation, Confirmation - The three C's

Image
  This is a technique lifted from XP (Extreme Programming).  Card On each card is enough text that identifies a requirement. Notes of priority and cost are written on it as well. They serve as tokens for requirements and are handed to developers during implementation and returned to customers when completed. Conversation  Conversations are collectively exchanges of thought between customers and programmers. It is largely verbal, but may be communicated with supplemental examples. Confirmation Confirmation, in other words, acceptance tests, are defined at the start with the customer and shown to customer at the end of the iteration to confirm the story's completion. Note that extra documentation, while seemingly helpful, hardly "confirms" anything and cannot replace acceptance tests. 
Read more

Notes: 10 Knowledge Areas of Project Management (PMBOK 6)

Image
 Notes from here  There are 10 knowledge areas, as outlined in PMBOK 6, that are to be remembered sequentially. It is presented in logical order (with exception to Stakeholders which is tacked on at the end).  Integration: In other words, you can’t ‘do’ schedule management and ignore what the impacts of that might be on people, risk, communications, cost and the rest. Scope: Knowing what the project will deliver Schedule: all about making a detailed plan to tell everyone when the project will deliver what is in the requirements. Cost: Managing project fund Quality: Although quality varies project to project and many aren't as regimented, it is important to be aware and use appropriately Resource: Working out the resources needed to get the project done Communication: Creating a communication plan and monitoring for adjustments Risk: Covers an adequate overview of managing risks  Procurement: Depending on any purchases involved, there is a lot of contracting and negotiation Stakehol
Read more