It was a satisfying week since I got to immerse myself in Michael Porter’s Competitive Strategy, a world authority on the subject. More on that later in a separate blog post. The other interesting thing that happened to me this week was my introduction to the concept of The Product Scorecard. My product manager asked us to review  the product scorecard he created that would act like a metrics framework to measure the different dimensions of the product.

“What can’t be measured can’t be managed” is not just a pithy saying but is loaded with meaning.

Product scorecards provide “at-a-glance” insight into key product dimensions. Product managers use product scorecards to track and analyze factors that influence product profitability and optimize product mix across channels, lines, categories and brands.

Marty Cagan wrote an excellent post on Product Scorecard in his blog.

The two important points that stood out for me from his blog were:

One of my favorite benefits of these product scorecards is that they can often help you eliminate a good portion of your backlog/roadmap.  If a feature idea doesn’t speak directly to one of the top KPI’s on the product scorecard, it’s generally off the list.”

He also talked about focussing on 5-6 KPIs instead of loading with a long list of KPIs, which becomes difficult to manage.

One of my favorite benefits of these product scorecards is that they can often help you eliminate a good portion of your backlog/roadmap.  If a feature idea doesn’t speak directly to one of the top KPI’s on the product scorecard, it’s generally off the list.

Hope your product scorecard helps you lead your product to success.