Description

Introduction

Product management involves a wide range of responsibilities, from defining product roadmaps to managing teams that build, test, and release products. A critical part of the product management process is accurately estimating the effort required for various tasks and delivering a well-defined scope. Proper sizing and estimation techniques help teams manage expectations, prioritize features, and allocate resources efficiently. This training will explore essential methods and best practices for effective sizing and estimation in product management, ensuring that product managers can make informed decisions and optimize team productivity.

Prerequisites

• Basic understanding of product management principles.
• Familiarity with project management concepts and processes.
• No prior experience with specific estimation techniques is required.

TABLE OF CONTENT

1.Introduction to Product Management
1.1 Role and Responsibilities
1.2 Importance of Sizing and Estimation

2.Fundamentals of Sizing and Estimation
2.1 Definition and Purpose
2.2 Key Metrics

3.Types of Estimates
3.1 Bottom-Up Estimates
3.2 Top-Down Estimates
3.3 Analogous Estimating
3.4 Parametric Estimating

4.Techniques for Sizing and Estimation
4.1 Planning Poker
4.2 Story Points
4.3 Function Points
4.4 T-Shirt Sizing
4.5 Delphi Method

5.Challenges in Sizing and Estimation
5.1 Uncertainty and Risk(Ref: Progress 4GL Fundamentals: Introduction to Programming)
5.2 Changing Requirements
5.3 Team Dynamics

6.Best Practices for Accurate Estimation
6.1 Involving the Right Stakeholders
6.2 Iterative Refinement
6.3 Historical Data Analysis
6.4 Continuous Improvement

7.Tools for Sizing and Estimation
7.1 Project Management Software
7.2 Agile Tools
7.3 Spreadsheet-based Tools

Conclusion

Sizing and estimation are critical skills for product managers that significantly impact the success of product development. By understanding and applying various estimation techniques, product managers can make more informed decisions, deliver products on time, and align expectations with stakeholders. Whether using story points, time-based estimates, or leveraging historical data, accurate estimation helps streamline the product lifecycle, mitigate risks, and ensure the optimal use of resources. Mastering these techniques ensures product managers can deliver successful products efficiently and with confidence.

Reference