Some notes about metrics for PO

Define value
1. Find a Key Value Indicator (KVI)
  1. Daily Active Minutes (DAM)
  2. Daily Active Users (DAU)
  3. Conversion rates (%)
  4. Time-to-Learn
  5. non functional quality criteria
2. Key Value Areas (KVA)
  1. Current Value
    1. Revenue per Employee
      1. Gross Revenue / #employees
    2. Product Cost Ratio
      1. All expenses in the organization that develops, sustains, provides services, markets, sells, and administers the product or system.
    3. Employee Satisfaction
      1. Engaged employees that know how to maintain, sustain and enhance the software systems and products are one of the most significant assets of an organization.
    4. Customer Satisfaction
      1. Sound management, solid software, and creative, fulfilled employees
  2. Time-to-Market
    1. Release Frequency
      1. The time needed to satisfy the customer with new, competitive products.
    2. Release Stabilization
      1. The impact of poor development practices and underlying design and code base. Stabilization is a drag on competition that grows with time.
    3. Cycle Time
      1. The time (including stabilization) to satisfy a key set of customers or to respond to a market opportunity competitively.
  3. Ability to Innovate
    1. Installed Version Index
      1. The difficulty customers face installing a new release .The relatively low value of new releases, or even the # of customers that are evaluating alternatives.
    2. Usage Index
      1. Determines a product that is burdensome and difficult to use and excess software that must be sustained even though it is rarely used.
    3. Innovation Rate
      1. Growth of technical debt caused by poorly designed and developed software. Budget is progressively consumed keeping the old software alive.
    4. Defects
      1. Measures increasingly poor quality software, leading to greater resource and budget to maintain it and potential loss of customers.
  4. Agility Index
Metrics of Iterations
1. Carry Over
  1. the amount of work pushed from one Sprint or iteration into the next
2. WIP
  1. how much work Team is doing at one time
3. Release Frequency
4. Number Of Backlog Items NOT Done
5. Sprint burndown
6. Epic and release burndown
7. Velocity
  1. average amount of work a scrum team completes during a sprint
8. Kanban metrics
  1. Cumulative flow diagram
  2. Lead and Cycle Time Diagram
  3. Burn Down Chart
9. to slice User Stories into independent increments of value
10 KEY METRICS FOR SCRUM
1. SPRINT GOAL SUCCESS RATES
2. DEFECTS
3. TIME TO MARKET
4. RETURN ON INVESTMENT (ROI)
5. CAPITAL REDEPLOYMENT
  1. The value (V) of the remaining requirements in the product backlog
  2. The actual cost (AC) for the work to complete the requirements in the product backlog
  3. The opportunity cost (OC), or the value of having the scrum team work on a new project
  4. When V < AC + OC, the project can stop
6. SATISFACTION SURVEYS
  1. Customer satisfaction surveys
  2. Team satisfaction surveys
7. TEAM MEMBER TURNOVER
  1. Scrum team turnover
  2. Company turnover
8. PROJECT ATTRITION
9. SKILL VERSATILITY
  1. Per-person skills and levels
  2. Per-team skills and levels
  3. Per-organization skills and levels
10. MANAGER:CREATOR RATIO
11. to move faster and produce higher quality
The HEART Framework (for UX)
1. Happiness
  1. Measures of user attitudes, feedback and resolutions
    1. Satisfaction
    2. Perceived ease of use
2. Engagement
  1. Level of user involvement with the product. It measures the frequency, intensity, or depth of a user’s involvement with your product
    1. Number of visits per user per week
    2. Minutes per app session or per day
3. Adoption
  1. Gaining new users of a product or feature to understand how the public reacts to news. The number of users who use a feature or product for the first time
    1. Upgrades to the latest version
    2. New subscriptions created
    3. Purchases made by new users
4. Retention
  1. The rate at which existing users are returning. The continued repeat engagement of users with the feature or product over time. Maintaining a satisfied user is a tough job.
    1. could be measured in % of users
    2. Number of active users remaining present over time
    3. Renewal rate or failure to retain (churn)
    4. Repeat purchases
5. Task Success
  1. Efficiency, effectiveness, and error rate of a user completing a task with your product’s workflow
    1. Search result success
    2. Profile creation complete
6. WHAT TO DO TO OPTIMIZE UX
  1. Learnability
  2. Effectiveness
  3. Efficiency
  4. Memorability
  5. Error Prevention/Handling
AARRRT (to measure the Product’s Performance)
1. Acquisition
  1. metrics to know which channels are most useful for driving customer growth
2. Activation
  1. metrics to track how sticky your product is
3. Retention
  1. metrics critical for the survival of your company
4. Referral
  1. metrics designed to track your product's growth
5. Revenue
  1. metrics to see how your product resonates with customers
6. Team
  1. metrics to drive internal quality and efficiency
    1. https://go.jamasoftware.com/rs/078-EIF-407/images/getting-started-with-team-metrics-jama-software-ja.pdf
Product Metrics Canvas
1. Name
  1. name/version
2. Goal
  1. the product/release goal, the objective that should be met
3. Metrics
  1. the measure to determine if the goal has been met
4. Target Group
  1. describes the target customers and users as personas
5. Big Picture
  1. describes what is takes to meet the persona goals
  2. the desired UX, functionality, the visual design, the nonfunctional properties
    1. epics, scenarios, storyboards, workflows, design sketches, mock-ups
6. Product Details
  1. a goal for the next iteration and implementable items to reach the goal
7. templats for using
  1. https://www.romanpichler.com/tools/product-canvas/
  2. https://docs.google.com/drawings/d/1-rf3FLKgbbjg6y3w5Z9aYSxRc1ufzphsefoiiClA2iw/template/preview?usp=drive_web&ouid=%7BuserId%7D
Sourses
1. https://www.scrum.org/resources/blog/10-tips-product-owners-business-value
2. https://scrumorg-website-prod.s3.amazonaws.com/drupal/2016-09/EBMgt_Guide_v3.pdf
3. http://www.ba-squared.com/4-agile-metrics-every-business-analyst-product-owner-care/
4. https://www.quora.com/What-are-the-metrics-to-measure-a-Product-Owners-performance
5. https://www.dummies.com/careers/project-management/10-key-metrics-for-scrum/
6. https://kanbantool.com/kanban-analytics-and-metrics
7. https://medium.com/@thiagonascimento/metrics-for-ux-designers-heart-6314e2e01493
8. http://community.uservoice.com/blog/product-user-experience-metrics-looking-at-googles-heart-and-the-goals-signals-metrics-process/
9. https://www.cleverism.com/art-science-user-experience-ux-optimization/
10. https://www.romanpichler.com/blog/the-product-canvas/
11. http://context-driven-testing.com
Build The Goals-Signals-Metrics process
The Product Owners' main responsibility is to maximize the value for the Product, in order to create, deliver and maintain a successful Product. So care about metrics that provide value and start measuring value the right way. Remember, metrics that are not valid are dangerous.