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Glossary

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Acceptance Criteria

Acceptance Criteria refers to a set of predefined conditions or requirements that a product or feature must meet in order to be considered acceptable or complete. It serves as a guideline for the development team to ensure that the end result aligns with the expectations and needs of the stakeholders.

Agile at Scale

Agile at Scale refers to the application of agile principles and practices across large organizations or complex projects involving multiple teams. It involves the implementation of agile methodologies and frameworks at an enterprise level to enable collaboration, flexibility, and adaptability in delivering value to customers.

Agile Framework

Agile Framework refers to a set of principles, practices, and methodologies that guide the development and management of projects in a flexible and iterative manner, allowing for continuous improvement and adaptation.

Agile Principles

Agile Principles refer to a set of guiding values and beliefs that underpin the Agile methodology. These principles provide a framework for teams to deliver high-quality software products in a flexible and collaborative manner.

Agile Sprint

In Agile project management, a sprint refers to a time-boxed period during which a team works on predefined tasks to achieve specific goals and deliverables. It is a fundamental concept in Agile methodologies, such as Scrum, emphasizing iterative and incremental development.

Annual Recurring Revenue (ARR)

Annual Recurring Revenue (ARR) refers to the predictable and recurring revenue generated by a business from its subscription-based products or services over a 12-month period. It is a key metric used to measure a company's financial health and growth potential.

b

Backlog Grooming

Backlog grooming is a crucial Agile project management practice that involves refining and organizing items in a product backlog to ensure they are well-defined, prioritized, and ready for implementation. It plays a pivotal role in maintaining the clarity and efficiency of the development process.

Benchmark

Benchmark refers to a standard or point of reference against which other things can be measured or compared. It is a tool used to evaluate performance, set goals, and make informed decisions.

Beta Test

A beta test is a method of testing a product, such as software or hardware, in the final stages of development before it is released to the general public. It involves gathering feedback from a select group of users who try out the product and report any issues or provide suggestions for improvement.

Business Transformation

Business Transformation refers to making significant changes to an organization’s structure, processes, and strategies to achieve a new level of performance and competitiveness.

c

Capacity Planning

Capacity planning is the process of determining the optimal amount of resources, such as personnel, equipment, and infrastructure, required to meet the current and future demands of an organization. It involves analyzing historical data, forecasting future needs, and making informed decisions to ensure that the organization has the necessary capacity to deliver its products or services efficiently.

Change Management Principles

Change Management Principles refer to a set of guiding concepts and practices organizations follow to effectively plan, implement, and sustain changes within their operations, processes, and culture.

Channels of Distribution

Channels of Distribution refer to the way goods or services move from the manufacturer or producer to the end consumer. It encompasses all intermediaries, such as wholesalers, retailers, agents, and distributors.

Continuous Improvement

Continuous Improvement, also known as Kaizen, is a method of making incremental changes and enhancements to processes, products, or services over time to achieve better efficiency, quality, and customer satisfaction.

Cost of Goods Sold (COGS)

Cost of Goods Sold (COGS) refers to the direct expenses incurred by a business in producing or acquiring the goods it sells. It includes the cost of raw materials, labor, and any other costs directly associated with the production or acquisition of goods in the company's product portfolio.

Customer

A customer is an individual or organization that purchases goods or services from a business in exchange for payment.

Customer Acquisition Cost (CAC)

Customer Acquisition Cost (CAC) refers to the total amount of money a company spends to acquire a new customer. It includes all the marketing and sales expenses incurred in attracting and converting a prospect into a paying customer.

Customer Empathy

Customer Empathy is the ability to understand and share the feelings, thoughts, and experiences of customers in order to provide personalized and meaningful support. It involves putting oneself in the customer's shoes and actively listening and responding to their needs and emotions.

Customer Journey Map

A Customer Journey Map is a visual representation of a customer's steps and touchpoints when interacting with a company, product, or service. It outlines the entire customer experience, from initial awareness to post-purchase support, and helps businesses understand and improve customer interactions.

Customer Service

Customer service refers to the support and assistance provided by a company to its customers before, during, and after a purchase. It encompasses a range of activities aimed at ensuring customer satisfaction and building long-term relationships.

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DACI Framework

The DACI framework is a decision-making model used in organizations to clarify roles and responsibilities in the decision-making process. DACI stands for Driver, Approver, Contributor, and Informed, representing the key roles in making and executing decisions.

Daily Scrum

Also known as the Daily Standup or Daily Stand-up Meeting, is a short, daily meeting in Scrum, a framework for Agile software development. It is a collaborative event where the development team synchronizes activities, discusses progress, and identifies potential obstacles to achieving sprint goals.

Dashboard

A dashboard is a visual representation of data that provides a consolidated view of key metrics and performance indicators. It allows users to monitor, analyze, and track various aspects of their business or operations in real-time.

Definition of Done (DoD)

The "Definition of Done" (DoD) is a shared understanding within a Scrum Team about the criteria a product increment must meet to be considered complete and relevant. This criterion helps teams maintain consistent, high-quality output and ensures everyone has a standard view of what "done" looks like.

Dependency

Dependency refers to the relationship between tasks or activities in a project where the completion of one task is reliant on the completion of another task. It is a crucial concept in project management as it helps understand the sequence and interdependencies of tasks, ensuring smooth project execution.

DevOps

DevOps is a set of practices and cultural philosophies that aim to improve collaboration and communication between software development (Dev) and IT operations (Ops) teams. It focuses on automating and integrating processes to enable faster, more efficient, and reliable software delivery.

Dual Track Agile

Dual Track Agile is a product development approach that combines two parallel tracks, one for discovery and the other for delivery, to enhance the agility and effectiveness of software development projects. It focuses on validating product ideas, user needs, and market fit in the discovery track, while simultaneously executing development activities in the delivery track.

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Economies of Scale

Economies of scale refer to the cost advantages that a company can achieve when it increases its production output or expands its operations. As a company grows and produces more goods or services, it can spread its fixed costs over a larger quantity, resulting in lower average costs per unit.

Eisenhower Matrix

The Eisenhower Matrix, also known as the Eisenhower Decision Matrix, is a time management tool that helps individuals prioritize tasks based on their urgency and importance. It is named after Dwight D. Eisenhower, the 34th President of the United States, known for his exceptional time management skills.

Epic

An epic, in the context of Agile project management, refers to a large body of work that can be broken down into smaller, more manageable pieces called user stories. It is a method used to organize and prioritize work in Agile development.

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Fibonacci Agile Estimation

Fibonacci Agile Estimation is a method used in Agile project management to estimate the effort or complexity of tasks or user stories. It involves assigning story points to each task or user story using the Fibonacci sequence as a scale.

Feedback Loop

A Feedback Loop is a process in which information about the output of a system, process, or activity is returned to the input to modify or reinforce the actions being taken.

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Gantt Chart

A Gantt Chart is a visual representation of a project schedule that uses horizontal bars to illustrate the start and end dates of individual tasks or activities. It provides a clear and concise overview of the project timeline, allowing project managers and team members to track progress, allocate resources, and manage dependencies effectively.

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Ideation

In our rapidly changing world, ideation stands out as a crucial skill for innovative thinking and problem-solving. More than just a process of generating ideas, ideation is a transformative journey that breaks conventional thinking and opens up new possibilities.

Information Technology

In our rapidly changing world, ideation stands out as a crucial skill for innovative thinking and problem-solving. More than just a process of generating ideas, ideation is a transformative journey that breaks conventional thinking and opens up new possibilities.

Iteration

Iteration is a term used in various fields, including project management and software development, to describe the process of repeating a set of steps or tasks in order to refine and improve a product or project. It involves a cyclical approach where feedback and learnings from each iteration are used to inform subsequent iterations.

ITSM (Information Technology Service Management)

ITSM (Information Technology Service Management) refers to a set of practices, policies, and procedures that are designed to manage and deliver high-quality IT services to meet the needs of an organization. It encompasses various processes, tools, and technologies to ensure efficient and effective delivery of IT services.

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Jira

Jira is a project management tool developed by Atlassian that allows teams to plan, track, and manage your (or your team’s) work in an efficient and organized manner.

Jobs-to-be-Done Framework

The Jobs-to-be-done Framework, often abbreviated as JTBD, is a tool used to understand customer needs by focusing on the underlying "jobs" they are trying to accomplish with a product or service.

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Kano Model

The Kano Model is a framework used to prioritize product features based on the perceived value they deliver to users and their potential impact on customer satisfaction.

Key Performance Indicator (KPI)

A Key Performance Indicator (KPI) is a measurable value that demonstrates how effectively an organization achieves its key objectives. It is a quantifiable metric used to evaluate the success of an individual, department, or organization in meeting its strategic goals.

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Lifetime Value (LTV)

Lifetime Value (LTV) refers to the predicted net profit a business can expect to generate from a customer over the entire duration of its relationship with the company.

m

Method of Procedure

A Method of Procedure (MOP) is a documented set of step-by-step instructions that outlines the specific actions and sequence of tasks required to complete a particular process or operation. It serves as a guide for individuals or teams to follow in order to ensure consistency, efficiency, and safety in executing complex tasks.

Metrics

A milestone, in the context of project management, refers to a significant event or achievement that marks a specific point in a project’s timeline. It serves as a key indicator of progress and helps to track the project’s overall success.

Milestone

A milestone, in the context of project management, refers to a significant event or achievement that marks a specific point in a project’s timeline. It serves as a key indicator of progress and helps to track the project’s overall success.

Minimum Viable Product

A Minimum Viable Product (MVP) is a version of a product or software that includes only the core features and functionalities necessary to meet the needs of early adopters and gather feedback for future iterations. It is the most basic product version that can be released to the market.

Mission Statement

In today's dynamic business world, a well-crafted mission statement is more than just a sentence in a company handbook; it's the heartbeat of an organization. Serving as a compass for decision-making and a mirror reflecting core values, a mission statement is fundamental to defining a company's path.

Moscow Prioritization

Stakeholder analysis is a strategic tool used to identify and understand the individuals, groups, or organizations that have an interest or influence in a project, initiative, or organization. It involves assessing stakeholders' needs, expectations, and potential impact to manage relationships and ensure project success effectively.

n

Net Promoter Score (NPS)

Net Promoter Score (NPS) is a customer loyalty metric that measures the likelihood of customers recommending a company, product, or service to others. It is a widely used method to assess customer satisfaction and loyalty.

o

Oportunity Cost

Opportunity cost refers to the potential benefits or value that is forgone when choosing one alternative over another. It is the cost of the next best alternative that must be sacrificed in order to pursue a particular course of action.

p

Persona

A persona is a fictional representation of a target audience or user group that is created to understand better their needs, goals, behaviors, and preferences.

PERT Chart

A PERT Chart, short for Program Evaluation and Review Technique Chart, is a project management tool that visually represents the tasks, dependencies, and timelines of a project in a graphical format.

Pivot

Pivot, in the context of business and entrepreneurship, refers to the strategic decision to change the direction or focus of a company in response to market conditions, customer feedback, or other external factors. It involves making significant adjustments to the business model, product offering, target market, or overall strategy to better align with the evolving needs and demands of the market.

Planning Poker

Planning Poker, also known as Scrum Poker, is an agile estimating and planning technique that utilizes consensus-based estimating to determine story points, effort, or the size of a user story, feature, or other pieces of work in software development.

Product Backlog

A Product Backlog is a prioritized and dynamic list of all the features, enhancements, bug fixes, and other items that must be developed or addressed in a product. It is a comprehensive roadmap for a project, ensuring that the team works on the most valuable and relevant tasks.

Product Design

Product design is the process of creating and developing a new product or improving an existing one, with the aim of meeting the needs and desires of the target market. It involves the integration of various disciplines, such as engineering, aesthetics, and marketing, to create a product that is functional, visually appealing, and commercially viable.

Product Development Process

The Product Development Process refers to the methodical and systematic approach taken by organizations to create, design, and bring new products or services to the market.

Product Differentiation

Product Differentiation refers to the process of distinguishing a product or service from its competitors in the market by highlighting unique features, benefits, or attributes that set it apart. It is a method used by companies to create a competitive advantage and attract customers.

Product Launch

A product launch refers to the process of introducing a new product or service to the market. It involves various activities and strategies aimed at creating awareness, generating interest, and driving sales for the newly launched product.

Product Lifecycle

The product lifecycle is a strategic concept used in marketing and business management to describe the stages a product goes through from its inception to eventual withdrawal from the market.

Product Management

Product Management is the discipline of overseeing the entire lifecycle of a product, from its inception to its retirement, with the goal of maximizing its value and ensuring its success in the market.

Product Market Fit

Product Market Fit refers to the stage in a business where a product or service perfectly meets the needs and demands of a specific target market. It is the point at which a product is able to achieve significant traction and generate sustainable growth.

Product Mix Strategy

A product mix strategy refers to the comprehensive plan and approach adopted by a company to manage and optimize its product portfolio. It involves determining the right combination of products to offer to customers, considering factors such as market demand, competition, and company objectives.

Product Ops

Product Ops, short for "Product Operations", refers to the strategies, processes, and tools used to improve the effectiveness and efficiency of product teams in delivering successful products to market.

Product Portfolio

A product portfolio is a collection of all products and services a company offers to its customers. It encompasses a diverse range of items, each at varying stages in their lifecycle, to meet a target market's diverse needs.

Product Positioning

The product lifecycle is a strategic concept used in marketing and business management to describe the stages a product goes through from its inception to eventual withdrawal from the market.

Product Prioritization Frameworks

Product Prioritization Frameworks refer to structured methods used by product managers and teams to decide which product features, enhancements, or initiatives should be worked on first based on their potential impact, feasibility, and alignment with business goals.

Product Requirements Doc

A Product Requirements Doc (PRD) is a formal document that outlines the detailed specifications and requirements for a product or feature. It serves as a communication tool between product managers, designers, developers, and stakeholders, ensuring a shared understanding of what needs to be built.

Product Strategy

Product strategy refers to a comprehensive plan that outlines the long-term goals and objectives of a company's product or service offerings. It involves making strategic decisions regarding the target market, positioning, pricing, and product features, aiming to achieve sustainable competitive advantage and maximize customer value.

Product Vision

Product Vision is a concise and inspiring statement that outlines the long-term goals and aspirations for a product. It serves as a guiding principle for the development and evolution of the product, providing a clear direction and purpose.

Program Manager

A Program Manager is a professional responsible for overseeing and coordinating multiple related projects within an organization to achieve strategic objectives and deliver desired outcomes.

Project Sprint

Project Sprint refers to a time-boxed period in Agile project management where a team works on a specific set of tasks or goals. It is a short, focused burst of work that allows teams to deliver value quickly and iteratively.

Project Theme

Project Theme refers to the central idea or concept that guides the overall direction and focus of a project. It serves as a unifying element that ties together various project components and activities, providing a clear vision and purpose for the project.

Project Velocity

Project Velocity refers to the rate at which a project team is able to deliver completed work items over a specific period of time. It is a metric used in project management to measure the efficiency and productivity of a team in completing tasks and achieving project goals.

Prototype

A prototype is a preliminary version or model of a product, system, or design that is created to test and validate its functionality, usability, and feasibility before full-scale production or implementation.

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Quality Assurance

Quality Assurance is a systematic method used to ensure that a product or service meets specified requirements and standards. It involves the implementation of processes, procedures, and activities to prevent defects, errors, or deviations from the desired outcome.

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Rapid Application Development

Rapid Application Development (RAD) is a software development methodology that prioritizes speed and flexibility in creating applications. It emphasizes iterative development, collaborative teamwork, and the use of pre-built components to build and modify software solutions swiftly.

Rapid Prototyping

Rapid Prototyping is a product development methodology that involves quickly creating physical or digital prototypes of a product or part to test and validate design concepts before moving on to full-scale production.

Release Management

Release Management is the methodical process of planning, scheduling, coordinating, and controlling the deployment of software releases into various environments, ensuring that they are delivered smoothly and efficiently.

Resource Allocation

Resource allocation refers to the process of assigning and distributing resources, such as personnel, equipment, and budget, efficiently and effectively to achieve project goals and objectives. It involves identifying the available resources, determining their optimal utilization, and allocating them to different tasks or activities within a project.

Retrospective

A retrospective, specifically in the context of Agile methodologies like Scrum, is a structured meeting where team members review their past working period to identify successes, challenges, and areas for improvement. This collaborative process aims to optimize the team's effectiveness and efficiency in future work cycles.

RICE Scoring Model

The RICE Scoring Model is a method used in product management to prioritize initiatives or features based on their potential impact, reach, confidence, and effort required for implementation.

Risk Assessment

The RICE Scoring Model is a method used in product management to prioritize initiatives or features based on their potential impact, reach, confidence, and effort required for implementation.

Roadmap

A roadmap is a strategic planning tool that visually represents the goals, objectives, and key milestones of a project or product. It outlines the path and timeline for achieving these objectives, guiding decision-making and resource allocation.

Roadmap Visualization

Roadmap Visualization represents a product or project roadmap using various graphical elements and tools. It involves creating a visual roadmap that outlines the strategic direction, goals, and timeline of a product or project, allowing stakeholders to understand and communicate the roadmap's key components easily.

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Scaled Agile Framework

The Scaled Agile Framework (SAFe) is a method for implementing Agile practices at scale within an organization. It provides a structured approach to scaling Agile principles and practices across multiple teams, departments, and even entire enterprises.

Scope Creep

The Scaled Agile Framework (SAFe) is a method for implementing Agile practices at scale within an organization. It provides a structured approach to scaling Agile principles and practices across multiple teams, departments, and even entire enterprises.

Scrum Master

A Scrum Master is a professional responsible for facilitating the Scrum framework within Agile projects, ensuring the team adheres to Scrum values, principles, and practices, and removing impediments to progress.

Scrum Meeting

A Scrum Meeting, also known as a daily stand-up or daily scrum, is a brief and time-boxed meeting that is an essential part of the Scrum framework. It is a method used in Agile project management to foster collaboration, transparency, and accountability among team members.

SMART Goal Setting

SMART Goal Setting is a framework that helps individuals and organizations set Specific, Measurable, Achievable, Relevant, and Time-bound goals. It provides a structured approach to goal setting, ensuring that objectives are well-defined and actionable.

Soft Skills

Soft skills refer to a set of personal attributes and interpersonal qualities that enable individuals to effectively interact and communicate with others. These skills are often intangible and difficult to measure, but they play a crucial role in personal and professional success.

Sprint Review

A Sprint Review is a key event in the Scrum framework where the Scrum Team and stakeholders come together to inspect the Increment and adapt the Product Backlog. It is an opportunity to showcase the work completed during the Sprint and gather feedback from stakeholders to ensure the product is on track.

Stakeholder

Stakeholder refers to any individual, group, or organization that has an interest or is affected by the activities, decisions, or outcomes of a project, business, or organization.

Stakeholder Analysis

Stakeholder analysis is a strategic tool used to identify and understand the individuals, groups, or organizations that have an interest or influence in a project, initiative, or organization. It involves assessing stakeholders’ needs, expectations, and potential impact to manage relationships and ensure project success effectively.

Sunk Cost

Sunk Cost refers to the expenses or investments that have already been incurred and cannot be recovered. It is a term commonly used in economics and decision-making processes to describe costs that have already been paid and cannot be reversed.

SWOT Analysis

SWOT Analysis, also known as SWOT Matrix or SWOT Method, is a strategic planning tool used to evaluate the strengths, weaknesses, opportunities, and threats of a business or project. It provides a comprehensive overview of the internal and external factors that can impact the success or failure of an organization.

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Technical Debt

Technical Debt is a term used in software development to describe the consequences of taking shortcuts or making trade-offs during the development process that result in suboptimal code or system design. It refers to the accumulated cost of additional work required to fix or improve the codebase in the future.

The 4 Ds of Time Management

The 4 Ds of Time Management is a method that helps individuals prioritize and manage their tasks effectively by categorizing them into four distinct actions: Delete, Delegate, Defer, and Do. This approach allows individuals to make informed decisions about how to allocate their time and resources efficiently.

The 5 Ws and H

The 5 ws and h is a method used to gather information and analyze a situation by asking six key questions: who, what, when, where, why, and how.

Total Addressable Market

Total Addressable Market (TAM) refers to the total revenue opportunity available for a specific product or service within a particular market. It represents the maximum potential market size that a company can target, assuming there are no constraints such as competition or market saturation.

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User Acceptance Testing (UAT)

User Acceptance Testing (UAT) is the final phase in the software testing process, where end users of a product or software assess its functionality and compatibility with real-world scenarios to ensure it meets their needs and requirements.

User Experience (UX)

User Experience (UX) refers to the overall experience that a person has while interacting with a product, system, or service. It encompasses all aspects of the user's interaction, including their emotions, attitudes, perceptions, and behaviors.

User Story

A User Story is a concise, informal description of a feature or functionality from the perspective of an end user. It is a method used in agile software development to capture requirements and communicate them effectively within a cross-functional team.

User Story Mapping

User Story Mapping is a visual exercise used in Agile Product Management and development to define the functionality of a product or feature based on the user's journey. It offers a holistic view of the user experience, ensuring that teams have a shared understanding and a prioritized plan.

User Testing

User testing is a method of evaluating a product or service by observing real users as they interact with it. It involves gathering feedback and insights to improve the user experience and identify any usability issues.

UX Designer

A UX Designer is a professional who specializes in creating and enhancing the user experience (UX) of a product or service. They combine their knowledge of user psychology, design principles, and technology to ensure that the end-users have a seamless and enjoyable experience.

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Waterfall

Waterfall methodology, also known as the waterfall model, is a sequential project management approach that follows a linear and structured process. It is characterized by a series of distinct phases, where each phase must be completed before moving on to the next.

Work In Progress (WIP)

Work In Progress (WIP) refers to the intermediate goods or unfinished products that are at various stages of the production process but still need to be completed.

Working Backwards (the Amazon Method)

Working Backwards (the Amazon Method) is a strategic approach used by Amazon to develop new products and services. It involves starting with the desired customer experience and working backward to determine the necessary steps and features to achieve that experience.

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