Revo's Product Management Glossary
Master the language of product management with Revo's definitive glossary. From Agile to Waterfall, learn 150+ key terms to excel in your PM career.
Lean UX
An iterative approach to product design that emphasizes rapid prototyping, user feedback, and continuous improvement, focusing on validating assumptions and reducing waste in the development process.
View articleLifetime Value (LTV)
The total revenue a customer is expected to generate for a company over their entire relationship.
View articleLocalization
The process of adapting a product or service to meet the language, cultural, and functional requirements of a specific target market or region.
View articleLow-fidelity Mockup
A basic visual representation of a product's layout and functionality, typically hand-drawn or created with simple tools, used to quickly explore and communicate design ideas.
View articleMVP (Minimum Viable Product)
The simplest version of a product with core features to satisfy early customers and gather feedback for future development.
View articleMarket Penetration
The percentage of a target market that has purchased or adopted a specific product or service.
View articleMerge
Combining features, products, or teams to create a unified offering or streamline operations.
View articleMetrics Dashboard
A visual display of key performance indicators (KPIs) and data points that provide a quick overview of a product's or project's performance, allowing product managers to monitor progress, identify trends, and make data-driven decisions.
View articleMicroservices
An architectural approach where a software application is composed of small, independent services that communicate via APIs, enabling easier scalability, maintenance, and deployment of individual components.
View articleMoSCoW Method
A prioritization technique used to categorize product features or requirements into four groups: Must-have, Should-have, Could-have, and Won't-have (for now).
View articleNet Promoter Score (NPS)
A customer loyalty metric that measures the likelihood of customers recommending a product or service to others, calculated by subtracting the percentage of detractors from the percentage of promoters.
View articleNexus Framework
A scaled Scrum approach for multiple teams working on a single product, emphasizing cross-team collaboration and integration.
View articleNorth Star Metric
A key performance indicator that best captures a product's core value and aligns with long-term company success.
View articleOKR (Objectives and Key Results)
A goal-setting framework that defines objectives and measurable key results to track progress and align teams towards common organizational goals.
View articleOKR Alignment
The process of ensuring that Objectives and Key Results (OKRs) at different levels of an organization are consistent and support each other, promoting cohesive goal-setting and execution across teams and departments.
View articleObservability
The ability to monitor, measure, and understand the internal state of a system through its external outputs, enabling better troubleshooting and performance optimization.
View articleOpportunity Cost
The value of the best alternative foregone when making a decision or choosing a course of action.
View articleOpportunity Scoring
A method to prioritize product features or opportunities based on their potential value and feasibility, helping product managers make data-driven decisions about resource allocation and development priorities.
View articleOpportunity Solution Tree
A visual tool used to align product opportunities with potential solutions and experiments, helping teams explore and prioritize ideas to achieve desired outcomes.
View articlePESTEL Analysis
A framework for analyzing external macro-environmental factors (Political, Economic, Social, Technological, Environmental, Legal) that can impact a product or business strategy.
View articlePII
Personally Identifiable Information: Data that can be used to identify or locate an individual, such as name, address, or social security number.
View articlePersona Development
The process of creating detailed, fictional user profiles to represent target customer segments, helping product teams better understand and empathize with user needs, behaviors, and motivations when making product decisions.
View articlePivot
A strategic shift in a product's direction, features, or target market based on new insights or market conditions.
View articlePlanning Poker
A collaborative estimation technique used by agile teams to determine the relative effort of user stories or tasks, typically using numbered cards to represent story points.
View articlePosition-Market Fit
The alignment between a product's positioning strategy and its target market's needs, preferences, and perceptions, ensuring effective differentiation and resonance with intended customers.
View articlePrioritization Matrix
A tool used to evaluate and rank tasks, features, or initiatives based on predefined criteria, helping product managers make informed decisions about resource allocation and project priorities.
View articleProblem-Solution Fit
The alignment between a specific problem experienced by customers and the proposed solution offered by a product or service, validating that the solution effectively addresses the identified problem.
View articleProduct Analytics
The process of collecting, analyzing, and interpreting data about how users interact with a product to gain insights, measure performance, and inform decision-making for product improvements and strategy.
View articleProduct Analytics Tools
Software applications that collect, analyze, and visualize data about user behavior, engagement, and performance metrics to help product teams make data-driven decisions and improve their products.
View articleProduct Box Exercise
A brainstorming technique where teams design a hypothetical product package to identify key features, benefits, and selling points, helping to clarify product vision and marketing strategy.
View articleProduct Development
The process of creating, designing, and bringing a new product or service to market, from initial concept to final launch.
View articleProduct Differentiation
A strategy to distinguish a product from competitors by emphasizing unique features, benefits, or attributes that provide added value to customers.
View articleProduct Differentiation
A strategy to distinguish a product from competitors by emphasizing unique features, benefits, or attributes that provide added value to customers.
View articleProduct Discovery
The process of identifying and validating customer needs, market opportunities, and potential solutions to inform product development decisions and prioritize features.
View articleProduct Evangelism
A strategic marketing approach where passionate advocates promote a product's benefits to build customer loyalty and drive adoption.
View articleProduct Experience (PX) Management
A systematic approach to gathering, analyzing, and acting on customer feedback throughout the product lifecycle to improve user satisfaction and product performance.
View articleProduct Experimentation
A systematic approach to testing new product features or changes by comparing different versions to determine which performs better and drives desired outcomes.
View articleProduct Health Metrics
Quantitative indicators used to assess and monitor the overall performance, usage, and success of a product throughout its lifecycle.
View articleProduct Hypothesis
A testable assumption about a product's potential success, based on market needs, user behavior, and business goals.
View articleProduct Ideation
The process of generating and developing new product ideas through brainstorming, research, and creative thinking techniques to address market needs or solve customer problems.
View articleProduct Launch
The introduction of a new product or service to the market, typically involving planning, marketing, and distribution strategies to maximize its success and adoption by customers.
View articleProduct Lifecycle
The stages a product goes through from conception to obsolescence, typically including development, introduction, growth, maturity, and decline.
View articleProduct Lifecycle Management (PLM)
A systematic approach to managing the entire lifecycle of a product from inception, through design and manufacturing, to service and disposal.
View articleProduct Metrics
Quantifiable measures used to evaluate a product's performance, usage, and success in meeting business and user goals.
View articleProduct OKRs
Measurable goals and key results that define and track product success, aligning team efforts with overall business objectives.
View articleProduct Operations (Product Ops)
A function that optimizes product development processes, improves cross-functional collaboration, and enhances data-driven decision-making to support product teams and drive product success.
View articleProduct Owner
A key role in Agile methodologies responsible for defining and prioritizing product backlog items, representing stakeholder interests, and ensuring the delivery of maximum value to customers.
View articleProduct Portfolio Management
The strategic process of evaluating, prioritizing, and allocating resources across a company's entire range of products to optimize overall business performance and align with organizational goals.
View articleProduct Positioning
The strategic process of defining and communicating a product's unique value proposition to target customers, differentiating it from competitors in the market.
View articleProduct Positioning Map
A visual representation that plots competing products or brands on a two-dimensional graph based on key attributes, helping to identify market gaps and strategic positioning opportunities.
View articleProduct Qualified Lead (PQL)
A user who has experienced value from a product through a free trial or freemium model and exhibits characteristics indicating they are likely to become a paying customer.
View articleProduct Requirements Document (PRD)
A comprehensive document outlining the features, functionality, and goals of a product, serving as a guide for development teams and stakeholders throughout the product lifecycle.
View articleProduct Retrospective
A meeting where the product team reflects on past product development cycles, discussing successes, challenges, and lessons learned to improve future processes and outcomes.
View articleProduct Roadmap
A strategic document outlining the planned development and release of product features, enhancements, and improvements over time, typically aligned with business goals and customer needs.
View articleProduct Roadmap
A strategic document outlining the planned development and release of product features, enhancements, and milestones over time, guiding the product's evolution and aligning stakeholders.
View articleProduct Specification (PRD)
A document outlining the features, functionality, and requirements of a product, serving as a guide for development teams and stakeholders.
View articleProduct Strategy
A comprehensive plan outlining how a product will achieve business goals, meet customer needs, and maintain competitive advantage in the market.
View articleProduct Taxonomy
A hierarchical classification system used to categorize and organize products into groups based on shared characteristics, attributes, or intended use.
View articleProduct Vision
A high-level, aspirational description of the product's long-term goals and desired impact, guiding strategic decisions and aligning stakeholders.
View articleProduct-Led Growth
A business strategy that relies on the product itself as the primary driver of customer acquisition, retention, and expansion, emphasizing user experience and value to fuel growth.
View articleProduct-Led Onboarding
A user-centric approach where new users are guided through a product's core features and value propositions through hands-on interaction, allowing them to experience the product's benefits firsthand during the onboarding process.
View articleProduct-Led Sales
A sales approach where the product itself drives customer acquisition, conversion, and expansion, relying on user experience and product value to generate revenue and growth.
View articleProduct-Market Fit
The degree to which a product satisfies a strong market demand and meets customer needs effectively.
View articleProduct/Market Fit Canvas
A visual tool used to align product features with market needs, helping teams assess and achieve product/market fit by mapping customer segments, value propositions, and key product attributes.
View articleProgressive Disclosure
A design principle that presents information gradually, revealing details as needed to reduce complexity and cognitive load for users.
View articlePrompt Engineering
The practice of crafting and refining input instructions for AI language models to generate desired outputs or behaviors, enhancing the effectiveness of AI-powered features in product development.
View articlePrototype
An early, basic version of a product used to test concepts, gather feedback, and refine design before full development.
View articlePull Request
A code change proposal submitted by a developer for review and integration into the main codebase, allowing for collaboration and quality control before merging.
View articleQualitative Research
A research method that focuses on gathering non-numerical data through interviews, observations, and open-ended questions to gain deep insights into user behaviors, needs, and motivations for product development and improvement.
View articleQuantitative Research
A data-driven approach to product development and decision-making, using statistical analysis and measurable metrics to validate hypotheses and inform product strategies.
View articleRACI Matrix (Responsible, Accountable, Consulted, Informed)
A project management tool that defines roles and responsibilities for tasks or deliverables by assigning team members as Responsible, Accountable, Consulted, or Informed for each item.
View articleRICE (Reach, Impact, Confidence, Effort) Prioritization
A framework for prioritizing product features or initiatives by evaluating and scoring them based on four criteria: Reach (number of users affected), Impact (value delivered), Confidence (certainty of outcomes), and Effort (resources required).
View articleRapid Prototyping
A fast, iterative process of creating and testing early versions of a product or feature to quickly validate ideas and gather user feedback before full development.
View articleRelease Management
The process of planning, scheduling, and controlling the deployment of software releases across different environments and to end-users, ensuring smooth transitions and minimal disruption to operations.
View articleRelease Planning
The process of organizing and scheduling product releases, prioritizing features, and aligning development efforts with business goals and customer needs over a specific time period.
View articleRetention Analysis
A method of evaluating how well a product retains its users over time, typically measuring the percentage of users who continue to use the product after a specific period.
View articleRetention Rate
The percentage of users who continue to use a product or service over a specified period of time.
View articleReturn on Investment (ROI)
A financial metric measuring the profitability of an investment relative to its cost, expressed as a percentage or ratio.
View articleRisk Management
The process of identifying, assessing, and mitigating potential threats or uncertainties that could impact a product's success, timeline, or objectives throughout its lifecycle.
View articleRoadmap Prioritization
The process of evaluating and ranking features or initiatives on a product roadmap based on their strategic importance, customer value, and resource constraints to determine the order of implementation.
View articleSAFe (Scaled Agile Framework)
A framework for implementing agile practices at enterprise scale, integrating principles from Agile, Lean, and DevOps to align large organizations around value delivery.
View articleSWOT Analysis
A strategic planning tool that evaluates a product's Strengths, Weaknesses, Opportunities, and Threats to inform decision-making and strategy development.
View articleSaaS Metrics
Key performance indicators used to measure and evaluate the success, growth, and health of Software-as-a-Service businesses, including customer acquisition cost, churn rate, monthly recurring revenue, and customer lifetime value.
View articleScalability
The ability of a product or system to handle increased workload, users, or data without compromising performance or efficiency as it grows.
View articleScrum
An iterative, incremental framework for managing complex product development, emphasizing cross-functional teams, regular feedback, and continuous improvement through fixed-length iterations called sprints.
View articleScrum Master
A facilitator and servant-leader who guides the Scrum team, removes obstacles, and ensures adherence to Scrum practices for efficient product development.
View articleService Blueprinting
A visual representation of a service process that maps out customer interactions, employee actions, and support processes to identify improvement opportunities and enhance customer experience.
View articleServiceable Available Market (SAM)
The portion of the Total Addressable Market (TAM) that a company can realistically serve with its current products, services, and business model.
View articleServiceable Obtainable Market (SOM)
The portion of the total addressable market that a company can realistically capture with its current resources, capabilities, and competitive positioning.
View articleSession Replay
A tool that records and replays user interactions on a website or app, allowing product managers to visualize and analyze user behavior for improved UX and bug identification.
View articleSmoke Testing
A preliminary test to quickly evaluate if a product or feature is ready for more thorough testing, identifying major issues early in the development process.
View articleSolution-Market Fit
The alignment between a product's solution and the needs of its target market, indicating that the product effectively solves a significant problem or fulfills a crucial demand for customers.
View articleSprint
A time-boxed iteration in Agile development, typically lasting 1-4 weeks, during which a team completes a set of planned product increments.
View articleStakeholder Analysis
A systematic process of identifying and evaluating individuals or groups affected by or influencing a product's development and success, assessing their interests, influence, and potential impact on the project.
View articleStakeholder Management
The process of identifying, analyzing, and engaging with individuals or groups who have an interest in or influence over a product's success, to ensure their needs and expectations are addressed throughout the product lifecycle.
View articleStakeholder Management
The process of identifying, analyzing, and engaging with individuals or groups who have an interest in or influence over a product's success, to ensure their needs and expectations are addressed throughout the product lifecycle.
View articleStakeholder Mapping
A visual representation of individuals or groups affected by a product, illustrating their influence, interest, and relationships to guide strategic decision-making and engagement.
View articleStory Mapping
A visual technique used to organize and prioritize user stories, aligning them with user activities and product goals to create a shared understanding of product features and their value.
View articleStory Points
A relative measure of effort required to implement a product backlog item, used for estimating and planning in Agile methodologies.
View articleStory Slicing
A technique for breaking down large user stories into smaller, manageable tasks that can be completed within a single iteration or sprint, ensuring more accurate estimation and faster delivery of value.
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