How To Prioritize?

Описание: Prioritizing tasks is an essential skill for any product manager. As a product manager, you are constantly bombarded with ideas and feature requests from various sources including salespeople, partners, and customers. You also generate many ideas through your interactions. However, it is impractical to implement every idea, making prioritization a critical skill.

I use a two-layered approach as a mental model to prioritize tasks effectively:

First Layer: Strategic Alignment
1. Alignment with Company Strategy: Evaluate if the suggested features or ideas align with the company's strategic goals. Determine whether the focus is on increasing revenue, user engagement, or user growth. This alignment acts as the first filter.

Second Layer: Impact and Cost Analysis
2. Impact Assessment: For each task, assess its potential impact on both the customer and the business. Consider factors such as:
The number of users it can reach.
The revenue it can generate.
The potential to increase user retention.

3. Cost Analysis: Understand the cost associated with building the feature. This includes:
The effort required.
The time needed.
The financial resources involved.