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What is “Value” for a Product Manager? The 50 shades on how you can make the best product decisions!
“Value” for Product Managers can mean a variety of different things. It is also what makes the position quite challenging. You need to be able to recognize different versions of it and measure them against each other.
Here is where the challenge begins!
You often need to compare oranges to apples and make a call which one should be prioritized. To make it even more challenging, some aspects of the value are not measurable, throwing some of the data-drivenness out of the window. The ability to make such a call is called “Product sense”, but this is a story for another time.
Please note, that understanding value is not only relevant for backlog prioritization! It’s also very important to any Product Manager’s day! You only have a few hours a day dedicated to working and no matter how much overtime you throw in, there will always be more to be done. Thus, you need to be smart and dedicate your time to activities that will bring the most value!
Thus, for my first premium Medium article and the last entry of 2021, let’s look at those different varieties of Product Manager’s values to see what we are up against!
