Any business strategy, including new software development, needs a roadmap. Without a map, a company is very likely to get lost in the weeds. The map provides signposts during the development journey, critical points with directions calling to turn right, left, or forge ahead. The team may encounter roadblocks and detours, but the destination remains the same, and they rely on the roadmap to get there.
When developing a new application, a software product plan is essential to keep the team on track. Every team member needs to have the same roadmap and a clear understanding of the destination and potential obstacles. Without a plan, it’s too easy to make poor decisions or head in the wrong direction, setting the project schedule back weeks or even months.
Shockingly, only 14% of software projects are successful. Forty-seven percent of projects fail because of poor project management; 32% fail because of ill-defined goals and objectives; 23% fail due to poor communications and lack of shared understanding.
Developing a comprehensive product plan keeps the team on track and reduces the risk of getting waylaid or lost along the way. A proper roadmap dramatically improves the odds of successfully reaching the destination and doing it more efficiently.
Ask for directions
A well-conceived product plan should serve as the roadmap to application success. The product plan maps milestones, such as application functions, and should inform development decisions. The rule of thumb is, “When in doubt, go back to the product plan.”
Every good product plan includes basic information:
- What’s the Destination? – Start with a vision statement that outlines the software product's functional requirements, including its purpose, intended target user and the value it adds.
- Define the Market – A product plan is like a business plan, and a competitive analysis provides a baseline for functionality and highlights competitive differentiators. How is it possible to outpace the competition? Market research and competitive analyses define the minimum requirements and what should be on the roadmap for the future.
- Must-Haves – What makes a minimum viable product (MVP)? Identify “must-have” versus “nice-to-have” features to prioritize phases of development. Also, identify integration requirements and architectural markers, such as whether the application should be deployed in the data center or as a Software-as-a-Service (SaaS) solution.
- Map the Journey – As part of the product roadmap, look beyond the short-term deliverables. Consider the overall product lifecycle, including next-generation features and sunsetting the product.
The product plan serves as the guide for strategic decision-making for all project stakeholders. Use it as a tool to get managers, designers, developers, and others moving toward a common goal and pre-defined milestones.
Follow the map to product success
A development project can still go sideways even with a solid product plan. Poor execution, false starts, miscommunications, cost overruns and other factors can lead to failure. Taking the proper steps can keep the project from falling by the wayside:
- Engage a Product Manager – The product manager will help with strategic thinking and understand how the vision enables the business. The best product managers aren’t just project drivers. They bring the expertise of a business analyst, engineer, and customer success manager to steer the project to meet the needs of customers, stakeholders, and the future of the business.
- Avoid Shortcuts – If the plan is ill-conceived, the result will be substandard. Poor upfront planning can lead to poor customer experience and bad choices that can affect the platform's scalability, program quality, accessibility of resources, etc. Poor planning also leads to technical debt, which means returning to the drawing board. Shortcuts can actually take longer and cost more than a better solution that may take longer to build.
- Budget Accordingly – Insufficient budgeting is a common cause of failed product development. If the development team underestimates the time and resources required or the client has unrealistic expectations, or both, problems will arise as the gap becomes apparent. Scope creep and other factors can increase costs slowly until the budget is out of control. Be clear about the technical specifications and implementation details. Once all the MVP wireframes and workflows are nailed down, the estimated hours will be more accurate.
- Measure Twice, Cut Once – The devil is in the details, and understanding the development process can eliminate misunderstandings and mistakes. The development team should have a formal and transparent process. Is there whiteboarding, storyboarding, UI/UX testing and design collaboration? What is the methodology for reviewing progress? When evaluating costs, check the hours estimated, not just the overall costs. It’s easier to manipulate cost estimates, but if the hours are off, either the developers don’t properly understand the project, they are using a different approach, or they will deliver a low-quality product.
- Balance is Key – Having an improperly staffed or imbalanced team, can result in poor communication, poor planning, poor execution, or all of the above. Creative collaboration and close communications help avoid missteps and misunderstandings. A healthy team dynamic and open dialogue is the best way to avoid blind spots and eliminate biases.
When planning for a new enterprise software product, take the time to map out the journey in advance with the team and stakeholders. A solid product plan will make it easier to achieve the objectives. It pays to remember that good product planning is good business planning. Take the time to gather the right team to plot a path to success.
