A very interesting article for a hard to quantify item, the product feature. Written by Gabriel Steinhardt and titled “An Algorithmic Model for Product Feature Prioritization“.
Product feature prioritization is a key and critical activity in the product definition process. In this article we review how to efficiently prioritize future product features.
Product FeaturesA Product Feature is primarily a product’s functional capability that satisfies a specific customer need. The sum of all of the product’s features is referred to as the Product Feature Set and it represents the reality of all that a product can do.
The product, by merit of its feature set, is the solution to the market problem which customers wish to solve. This obviously means that any given product feature set will have a direct bearing on the product’s chances of achieving marketplace success. In addition, the selected product feature set immediately impacts the development effort and subsequent marketing and operational activities.
Every product feature has to be developed, tested, fixed, documented, marketed, sold, supported, and possibly terminated at some point in time. The business implications and accumulated costs can be immense if certain product features in the product feature set are unnecessary or less desired by the customers.
It is therefore extremely critical to select the best product features and optimize the product feature set to fit market needs, subject to budgetary and scheduling constraints. A key component of the product feature selection process is feature prioritization.
Product Feature Selection ProcessThe product feature selection process has three objectives:
- Identify redundant or missing features.
- Build product versions and roadmap.
- Analyze and prioritize features.
Identifying redundant or missing features is accomplished via traceability between representations of market problem facets (e.g. market requirements) and the defined product functionality (e.g. product requirements) which addresses those facets. Defining product versions and a roadmap is dependent on and also an outcome of feature prioritization, so this means that the centerpiece component of the product feature selection process is the product feature prioritization activity.
Read the full article: An Algorithmic Model for Product Feature Prioritization