6 Product Management Frameworks

Frameworks for product management help organizations to deliver successful products. But what are these frameworks, and how do they work? 

This article will discuss some of the more popular frameworks and show how you can streamline product delivery. 

Keep in mind that the best framework for your organization may not be the same as another company’s, so it is essential to find one that suits your specific needs.

Why are frameworks needed?

A framework provides a set of guidelines and principles that help organize the team’s work to deliver a product. 

It also establishes a common language for everyone involved in the project, from executives to engineers. This clarity helps ensure that everyone is on the same page and working towards the same goal.

Popular Frameworks for Product Management

Waterfall 

The waterfall model is a sequential design process initially developed in the 1940s. It is helpful for projects with a well-defined scope and where one knows the requirements in advance. 

Under this framework, work moves from one stage to the next in a linear fashion, and there is little room for changes or corrections once the process has begun.

The waterfall model is not well-suited for products subject to frequent changes, and it can be challenging to make changes once work has started. 

However, it is still a popular framework because it provides a high level of certainty and control. 

It is helpful for organizations that are risk-averse or have tight deadlines.

Organizations such as NASA and Lockheed Martin use the waterfall method. They use it because they have a very defined product, and the requirements do not change.

Experimentation

This process allows for fast iterations of products and services, which is essential in the digital age. 

It also allows for greater customer engagement, as they can provide feedback that will help to improve the product. These frameworks have something called ‘squads.’ 

A Squad is a small, cross-functional team focused on a specific task or goal. 

Each team can have its product owner responsible for the team’s success. The product owner is also responsible for collaborating with other squads to ensure that the product meets customer needs. 

This type of framework allows for fast and efficient product delivery.

Such frameworks are most efficient for experimentation because they allow for fast iterations of products and services. This is important in the digital age, where customers are more engaged and can provide feedback that will help to improve the product. 

This also means that each squad can have its trajectory in innovative practices and products. 

One of the advantages of this type of framework is that it allows for greater customer engagement. Customers can provide feedback that will help to improve the product, which leads to a better overall product. 

Additionally, squads allow for fast and efficient product delivery. This means that products can be released more quickly and with fewer delays.

Working backward

This is one of the newer frameworks for product management, and it is based on the idea of working backward from the customer. 

Under this framework, the team starts by understanding what the customer wants and then works backward to figure out how to deliver it. 

This framework is very flexible, which allows for changes and corrections along the way.

The downside of this framework is that it can be challenging to know what the customer wants. It can also be tough to know how to deliver it. 

However, this framework is very flexible, which allows for changes and corrections along the way. This makes it a good option for products that are subject to frequent changes.

This framework is based on the idea of working backward from the customer. 

Under this framework, the team starts by understanding what the customer wants and then works backward to figure out how to deliver it. 

This allows for greater customer engagement and a better overall product. The downside of this framework is that it can be challenging to know what the customer wants. 

It can also be tricky to figure out how to deliver it. However, this framework is very flexible, which allows for changes and corrections along the way. 

This makes it a good option for products that are subject to frequent changes. 

It can be seen in organizations such as Netflix and Amazon.

Two parts method

This focuses on product discovery and delivery. Under this framework, there are two parts: discovery and delivery. 

The discovery phase is where the team explores different options and tries to find a viable solution. The delivery phase is where the team actually builds the product.

This framework is very efficient because it allows for fast iterations of products. It also allows for greater customer engagement, as they can provide feedback that will help to improve the product. 

This approach also means that each squad can have its trajectory in innovative practices and products. 

This framework focuses on product discovery and delivery. Under this framework, there are two parts: discovery and delivery. 

The discovery phase is where the team explores different options and finds a viable solution. This process allows for greater customer engagement and a better overall product. 

The snag is that it can be challenging to understand what the customer wants. The delivery phase is where the team builds the product. This approach allows for fast iterations of products and greater customer engagement. 

The defect is that it can be tricky to know what the customer wants. 

It is visible in companies that follow the agile methodology, such as Spotify and Facebook.

They don’t have just one version. Instead, these firms break the MVP into three parts: the absolute must-haves, the features that would be nice to have, and the stretch goals.

The Minimum Viable Product (MVP) is a popular framework for product management. 

Under this framework, the team focuses on creating a product that has the minimum number of features necessary to satisfy the customer. 

This approach allows for fast iterations of products and greater customer engagement. The pitfall is that it can be challenging to know what the customer wants.

This framework is popular because it allows for fast iterations of products and greater customer engagement. The con is that it can be difficult to know what the customer wants. 

It is visible in companies such as Apple and Google.

Customer-centric

These frameworks investigate customers’ problems and then deliver a product that solves those problems.

These frameworks are customer-centric, which means they investigate customers’ problems and then deliver a product that solves those problems. 

Under this framework, the team understands what the customer wants and then works backward to figure out how to deliver it. This process allows for greater customer engagement and a better overall product. 

The downside is that it can be difficult to know what the customer wants and how to deliver on their wants. However, this framework is very flexible, which allows for changes and corrections along the way. 

This feature makes it a good option for products subject to frequent changes. 

It can be challenging to work in this direction since it’s very different from the traditional product development process, which is more focused on features and functionality. 

However, it is visible in companies such as Netflix and Amazon.

Once you complete this process and users have re-used the application, they circle back and review the success metrics to see if they hit the goals they were hoping for.

The goal-oriented framework is another popular framework for product management. 

Under this framework, the team focuses on achieving specific goals rather than creating a product that solves customer problems. This approach allows for greater clarity and focus, leading to a better outcome. 

Product Growth Framework

As the name suggests, it is a structure that helps products grow. It does this by breaking down the product into different stages and then providing a framework for moving through those stages. 

This framework aims to help products go from startup to growth stage and then eventually to scale stage. 

This framework is popular because it allows for fast iterations and is very scalable. 

The downside is that it can be difficult to know what the customer wants and how to deliver it, and it can also be challenging to figure out when you are in a particular stage. 

It has eight steps

• stage your company: you need to decide where your company is on the product growth spectrum. 

• define what success looks like: this step is all about figuring out what you want your product to achieve. 

• create a plan: this step is all about creating a program that will help you achieve your goals. 

• execute the plan: this is where you put your plan into action and start working towards your goals. 

• measure progress and pivot as needed: this step is all about making sure you are on track and adjusting your course as required.  

• grow the product: this is where you take all you have learned and apply it to your product to help it grow. 

• scale the product: once your product has reached a certain level of success, this is where you scale it up so that it can continue to grow. 

• repeat: this step is all about continuing to move forward and growing your product.

This framework is best for companies in the startup or growth stages.

This framework is popular because it provides a lot of structure and is very predictable. However, it can be inflexible and difficult to change course once you are in the execution stage. 

Conclusion

All frameworks have something in common. It has stages in different chronologies:

• understand your customer: it is of utmost importance that you know who your customer is and what they want. 

• discover and assess the business opportunity: this step is all about figuring out if there is a market for your product and if it is worth pursuing.

• build a prototype: this is where you make a basic version of your product so that you can start getting feedback from customers. 

• test with real users: this step is all about getting feedback from real users so that you can change and improve your product.

• launch: this is where you officially launch your product and start selling it to customers. 

• measure results and course correct: this step is all about making sure that your product meets the goals you set for it and adjusting as needed

• define your value proposition: this step is all about figuring out what makes you different from your competitors and how to solve your customers’ problems better than anyone else. 

These frameworks are not the only ones that exist, but they are some of the most popular ones. It is crucial to decide which one will work best for your company and then deploy it to start seeing success.