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Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development

Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development. Lean Startup Presented by: Damian Dingley, Vantage Software Inc. & Veracity Solutions. Introduction. “The Lean Startup” by Eric Ries or “ Improve the success rate of new innovative products ”

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Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development

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  1. Using Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development Lean Startup Presented by: Damian Dingley, Vantage Software Inc. & Veracity Solutions

  2. Introduction “The Lean Startup” by Eric Ries or “Improve the success rate of new innovative products” • New product is unpredictable • Apply the scientific method to early product development. • Build, test, learn and pivot –quickly. • Reduce uncertainty and foster commitment. • Don’t measure doing, measure output and results.

  3. Applies to any new product development: Large Corporations Garage startups

  4. 3 Principals • Vision • Entrepreneurial management • Steer • Build-measure-learn feedback loop • Accelerate • Velocity improvements using Lean, Agile and Kanban

  5. Build-Measure-Learn Feedback Loop

  6. Ideas • Leap of faith assumptions • High uncertainty Temper with: • Hypothesis • Try and Test (as soon as possible) • Prioritize based on business value and risk • Epics and User Stories describing vision & hypothesis with tests to measure outcomes

  7. Build • MVP –Minimum Viable Product Guidelines: • Lacks features • Minimum effort • Designed to alter customer behavior (for the better) • Aim to deploy quickly

  8. Product • Deploy and Observe (Get it in front of the customer) Guidelines: • Capture feedback • Observe reactions

  9. Measure • Innovation accounting Guidelines: • Capture feedback • Observe reactions • Collect information needed to validate hypotheses and tests identified in the User Story

  10. Data • Collect useful data – Market, customer behavior & feedback • Qualitative & Quantitative • Apply cohort analysis Guidelines: • Group customers • Observe group performance

  11. Learn • Use feedback to learn • Test against original hypothesis • Pivot (or Persevere) Guidelines: • Adjust priorities on the backlog • Create new user stories • Update release plans • No point building something nobody uses or wants!

  12. Pivot or Persevere? • Decision time -based on facts (and emotions) • Facts –quantitative and qualitative • Emotions –channel human creativity in most productive form Guidelines: • Was the hypothesis correct? • Consider as part of the regular vision & release planning effort • If pivoting, keep one foot in the previous cycle/iteration while executing fundamental change in strategy. /customer segment /zoom out /zoom in /platform /business architecture /customer need

  13. Iterative Development

  14. Kanban & Agile = Accelerate

  15. ThankyouUsing Agile Methodology for Market Feedback in Risky and Uncertain Early Product Development Lean Startup Presented by: Damian Dingley, Vantage Software Inc. & Veracity Solutions

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