SAFE AGILE PRODUCT MANAGEMENT
(APM) Latest Questions and Answers |
Updated Professional Prep with Verified
Answers | A+ Verified
• Product value -✓✓The worth assigned to the product by the customer
Q: which needs will the product address?
What value does the product add?
• feasible -✓✓reasonable; capable of being carried out
• lock in customers -✓✓making it difficult or expensive for customers to switch to
another product
• sources of revenue -✓✓sales and fees earned
• target price -✓✓price based on customers' perceived value for the product and the
price that competitors charge
Q: what is the target price?
• competitors -✓✓companies in the same industry that sell similar products or
services to customers
• springboard -✓✓1. An object used to power/spring a gymnast over something.
2. a beginning from which an enterprise is launched
,• Unique selling point -✓✓Any aspect of a product that makes it stand out form
those offered by rival businesses,
Any aspect of or characteristic of a product that differentiates it from the
competition. Firms will often want to stress this in their marketing.
• Product Vision -✓✓a brief statement of the desired future state that would be
achieved through the project initiative.
Pichler: The vision should communicate the essence of the future product in a
concise manner and describe a shared goal that provides direction but is broad
enough to facilitate creativity.
Should be: shared and unifying: people are connected, bound together by a
common aspiration; broad and engaging: goal that guides the development efforts
but leaves enough room for creativity, consensus driven goal; short and sweet: less
is more
• consensus-driven approach -✓✓team works together to build a vision around
what they are building
• yields -✓✓Makes, creates, produces; Arrow in chemical equation
• overspecified -✓✓very complex
Pichler: resist the temptation to provide too much detail or to overspecify the
product. More functionality is discovered and captured in the product backlog as
the projekt progresses.
• Elevator Pitch -✓✓Very concise presentation of an idea covering all of its critical
aspects, and delivered within a few seconds (the approximate duration of an
elevator ride)
identify your goal
, explain what you do
communicate your uniqueness
engage with a question
put it all together
practice
Moore's elevator test - if you can not explain your product in the time it takes us to
ride up,the vision od likely to be too long or complex.
• to change certain failure into unmitigated success -✓✓changing big failure in
absolute, unqualified success thanks to the adaptation
• unrivaled -✓✓having no equal or competition
• fairly well; to a large extent; pretty much -✓✓
• "Markets that do not exist can not be analyzed" -✓✓Christensen 1997
• it set a new standard for smartphones -✓✓iPhone which launched in 2007
• narrow set of customer needs -✓✓focusing on the few most important
capabilities, leaving out some functinality, avoiding the trap to please too mamy
people at once
• a fresh look at -✓✓
• hinder -✓✓to delay; to stop or prevent from happening
(APM) Latest Questions and Answers |
Updated Professional Prep with Verified
Answers | A+ Verified
• Product value -✓✓The worth assigned to the product by the customer
Q: which needs will the product address?
What value does the product add?
• feasible -✓✓reasonable; capable of being carried out
• lock in customers -✓✓making it difficult or expensive for customers to switch to
another product
• sources of revenue -✓✓sales and fees earned
• target price -✓✓price based on customers' perceived value for the product and the
price that competitors charge
Q: what is the target price?
• competitors -✓✓companies in the same industry that sell similar products or
services to customers
• springboard -✓✓1. An object used to power/spring a gymnast over something.
2. a beginning from which an enterprise is launched
,• Unique selling point -✓✓Any aspect of a product that makes it stand out form
those offered by rival businesses,
Any aspect of or characteristic of a product that differentiates it from the
competition. Firms will often want to stress this in their marketing.
• Product Vision -✓✓a brief statement of the desired future state that would be
achieved through the project initiative.
Pichler: The vision should communicate the essence of the future product in a
concise manner and describe a shared goal that provides direction but is broad
enough to facilitate creativity.
Should be: shared and unifying: people are connected, bound together by a
common aspiration; broad and engaging: goal that guides the development efforts
but leaves enough room for creativity, consensus driven goal; short and sweet: less
is more
• consensus-driven approach -✓✓team works together to build a vision around
what they are building
• yields -✓✓Makes, creates, produces; Arrow in chemical equation
• overspecified -✓✓very complex
Pichler: resist the temptation to provide too much detail or to overspecify the
product. More functionality is discovered and captured in the product backlog as
the projekt progresses.
• Elevator Pitch -✓✓Very concise presentation of an idea covering all of its critical
aspects, and delivered within a few seconds (the approximate duration of an
elevator ride)
identify your goal
, explain what you do
communicate your uniqueness
engage with a question
put it all together
practice
Moore's elevator test - if you can not explain your product in the time it takes us to
ride up,the vision od likely to be too long or complex.
• to change certain failure into unmitigated success -✓✓changing big failure in
absolute, unqualified success thanks to the adaptation
• unrivaled -✓✓having no equal or competition
• fairly well; to a large extent; pretty much -✓✓
• "Markets that do not exist can not be analyzed" -✓✓Christensen 1997
• it set a new standard for smartphones -✓✓iPhone which launched in 2007
• narrow set of customer needs -✓✓focusing on the few most important
capabilities, leaving out some functinality, avoiding the trap to please too mamy
people at once
• a fresh look at -✓✓
• hinder -✓✓to delay; to stop or prevent from happening
