While there are some key steps that are required in product strategy, but today’s Newsletter focuses on Product Roadmaps where we will answer these 3 questions :
WHAT is a product roadmap ?
WHY is product roadmap important ?
HOW to create product roadmap ?
Let’s dive in.
WHAT is a product roadmap ?
In simple language, Product Roadmap is a visual representation of what to do today, tomorrow and future to achieve the goal set in the product strategy. In consists of three main components :
List of problems
Sequence to solve them
Timeline within which the problem will be achieved
A Product Manager or a Product Owner is the primary owner of the roadmap. That means, a PM/ PO creates and maintains the roadmap. That being said, roadmap is never created in isolation. PM/ PO collaborates and aligns the stakeholders to prioritise and update the roadmap.
Based on above, there are 3 important stages in creating and maintaining a product roadmap :
Ideation
Prioritisation
Alignment
WHY is product roadmap important ?
As mentioned in the WHAT, product roadmap is a list of items or actions that are required to be done in order to achieve a product goal. This statement is itself quantifiable as it not only defines the actual work to be done but also the timeline when that would be achieved. By outlining key milestones, priorities, and timelines, the roadmap ensures everyone is moving in sync, minimising risks and maximising efficiency.
In totality, here is why a product roadmap is important :
Clarity and Alignment
Communication
Goal Setting and Prioritisation
Risk Mitigation
Stakeholder Engagement
Adaptability
HOW to create product roadmap ?
These are various tools in the market which provide creating roadmaps as a part of product strategy. I will write a separate article highlighting these tools - capabilities and pricing.
That said, these are few of the tools I recommend :
Whatever the tool you may select, there are three most important components that are part of a roadmap, like I mentioned above :
List of problems
Sequence to solve them
Timeline within which the problem will be achieved
Let’s revisit the 3 stages in creating a roadmap and see how to they come together.
Ideation - In product strategy, before starting with roadmaps, one key focus is to identify the stakeholders with whom PM would collaborate during different stages of product development life cycle. Once these stakeholders are identified, PM should leverage them in brainstorming ideas that align with the product goal. This phase is known as Ideation. The outcome of this should result in the list of problems that are to be resolved by creating the product.
Prioritisation - Once there is the list of problems to be resolved, next is to sequence those based on user and business value. Two important things are considered during this phase - Value and Cost/ efforts.
Alignment - Once the items are prioritised, and the actual work comes into motion, PM needs to align the stakeholders in case the roadmap needs to be updated due to an un-obvious reason say change in market. Alignment leads to uniform understanding of the scope and goal.
There is more to roadmaps than just these three components. As the definition says, roadmap is a visual representation, it makes sense to create roadmap based on whom you are sharing it with. As an example, a CEO might not be interested in the feature timelines but would be more interested in knowing the overall goal progress. Similarly, a scrum team will be interested to know what items are coming up and what timelines are they expected to deliver.
Depending on the audience, roadmaps can be categorised into these types :
𝟭. 𝗧𝗶𝗺𝗲𝗹𝗶𝗻𝗲-𝗯𝗮𝘀𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 📅
Timeline-based roadmaps provide a visual representation of features or releases scheduled over a specific period. They offer clarity on when stakeholders can expect certain deliverables, making them ideal for managing expectations and planning resources.
𝟮. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆-𝗯𝗮𝘀𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 🎯
Strategy-based roadmaps focus on long-term goals and high-level initiatives rather than specific features or timelines. They help align product development with broader organisational strategies, fostering clarity and direction in decision-making.
𝟯. 𝗚𝗼𝗮𝗹-𝗼𝗿𝗶𝗲𝗻𝘁𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 🏆
Goal-oriented roadmaps tie features and releases directly to specific objectives or outcomes. By aligning product development with measurable goals, these roadmaps ensure that every feature contributes meaningfully to the product's success.
𝟰. 𝗧𝗵𝗲𝗺𝗲-𝗯𝗮𝘀𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 🌟
Theme-based roadmaps organise features around common themes or categories, such as user experience improvements, performance enhancements, or market expansion. They offer a holistic view of product development efforts, facilitating alignment across teams and departments.
𝟱. 𝗧𝗲𝗰𝗵𝗻𝗼𝗹𝗼𝗴𝘆-𝗳𝗼𝗰𝘂𝘀𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 💻
Technology-focused roadmaps highlight advancements or changes in technology infrastructure that drive product development. They are particularly useful for products heavily reliant on technology or undergoing significant architectural shifts.
𝟲. 𝗣𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼-𝗯𝗮𝘀𝗲𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 📊
Portfolio-based roadmaps manage multiple products or projects within a portfolio, providing a high-level overview of how each product contributes to overarching strategic objectives. They help prioritise resources and investments across the product portfolio.
𝟳. 𝗛𝘆𝗯𝗿𝗶𝗱 𝗥𝗼𝗮𝗱𝗺𝗮𝗽𝘀 🔄
Hybrid roadmaps combine elements of multiple roadmap types to suit diverse needs and contexts. By integrating different perspectives and approaches, hybrid roadmaps offer comprehensive insights into product strategy and execution.
Conclusion
No matter which tool is used in creating product roadmap, there are few key points that always remain constant which are most critical for creating an effective roadmap.
There are three main components of a product roadmap :
List of problems
Sequence to solve them
Timeline within which the problem will be achieved
There are 3 important stages in creating and maintaining a product roadmap :
Ideation
Prioritisation
Alignment
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