Important frameworks to keep in mind as a Product Manager

A standard operating procedure (SOP) or a structure in place for each product development phase is key for a product manager. This could include frameworks, canvases, and excel sheets. Lucky for us a lot of these processes have a pretty well-defined framework to follow. This article just compiles these frameworks so you don’t miss out on any of them.

CIRCLES Method —

Courtesy — Decode and Conquer by Lewis Lin

The CIRCLES method is a holistic approach to innovatively understand customer pain points, target audience, identify solutions, and create a plan of action.

Hook Model Canvas —

Image Courtesy — Product Plan

Hook Model Canvas is a staple during the early product planning stages. This canvas allows the designers to create a solution that forms a habit for the users. For instance, you get a notification saying someone liked your photo on Instagram, the notification is the trigger. Your action is to open the app and check the notification. The investment is taking the time to capture a photo, edit it, write a caption and post it. And the reward is to get likes and gain followers. This cycle perpetually makes Instagram a habit where the users keep going back to the app.

Value Proposition Canvas —

Image Courtesy — B2B International

This canvas is usually filled at the start of a product identification phase to understand customer values and the pain points. The learning from this canvas is applied to the business model canvas under the value propositions and customer segments section.

Business Model Canvas —

Image Courtesy — Strategyzer

This canvas is generally used by startups to answer important questions pertaining to the product/business. This can be used to answer questions about product features too in terms of who it is for, what resources are needed, cost structure for the development and whether it will be any independent revenue. For instance, in the already existing Cult.Fit app, the user pays for the membership for group exercise classes, a feature update now allows users to book personal training sessions with trainers. For planning updates like these, it is important to use the business model canvas.

MoSCoW Method -

Image Courtesy — ARC Student Resources

This framework allows you to identify what matters the most to your stakeholders, by placing the features into 1 of the 4 buckets and identifying which ones to focus on first.

RICE Method -

Image Courtesy — Roadmunk

This method involves scoring a feature according to the relevant criteria. The formula used for evaluation is (Reach * Impact * Confidence)/Effort.

OKR Method -

Image Courtesy — Mint Intuit

OKR stands for Objectives & Key Results is a key framework to define the measure of success for each feature update within the product.