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What is a Concept Review?
A concept refers to the initial idea of any new product or feature, with a basic idea of how it is going to be completed. A concept review is basically a discussion where you analyze different or competing concepts and take a call on the ones you are going to invest in and follow until completion.
It is important to distinguish between what works and what doesn’t so as to avoid going through with ideas that may not deliver the desired results in the future.
Conducting a concept review using The Delphi method
The base of any concept review is group decision-making.
It may not always be an easy task, but with the right approach and strategies in place, a team can work together effectively as one towards a common objective, i.e., conducting a seamless concept review. The Delphi method corresponds to one such framework.
The Delphi method, also known as ‘iterative convergence’ and is built on the idea that a group of experts will be more suited at decision-making than a group of people with just basic knowledge.
In a concept review, this involves experts asking questions about any proposed concept. They are then read out by a facilitator anonymously to the whole group. The benefit of this approach is that there is a clear establishment of all the pros and cons of a concept before any decision is made.
If your team does not find the Delphi method suitable, an alternative could be used to rank concept ideas. In this, every team member gets one vote. The votes are then added simply given a clear priority list.
Q: What is a concept review in product management?
A: A concept review in product managers refers to a team discussion where you analyze different and competing concepts and then take a call on the ones you are going to invest in and follow until completion.