Product Tonic Lab Meetup #2 — Decision Making

“How might we make good decisions?”

Concepts

• Decisions are integral part in product work — They drive the product and the organization.
• The role of a product management is to be able to make sure we arrive at the right decisions.
• Good decisions are a balance of quick and informed decisions — made for the good of all.
• Know first how important the decision you have to make (e.g. Amazon’s Type 1 and 2 Framework)
• Build high level of confidence in what you are deciding on — have good understanding and knowledge of your decision’s context
• Decide quickly — we derive less value from decisions made later
• Importance, information and time are interrelated. Truly important decisions needs the most information and time for confidence. Most decisions are not important and benefit from agility

Takeaways

• Good decision making entails decisions to be fast, not essentially perfect.
• Be mindful about the importance the decision you have to make.
• If the decision is LESS IMPORTANT, THEN IT SHOULD NOT BE IN YOUR HEADSPACE
• If it is important, THEN YOU HAVE TO DO THE HOMEWORK

Side Quest

• Cost of Delay
• On Risks:convex vs concave risks
• Leveraging UX insights to influence product strategy
• Decision making how leaders can get out of the way
• Why new leaders should make decisions slowly
• Making good decisions as a product manager

Attributions

This is a personal summary notes for Product Tonic Labs 2021 that took place from April — Nov 2021

Product Tonic Lab is open source

This work is distributed under a Creative Commons Attribution 3.0 Unported (CC BY 3.0). This work is derivative of Prime/OS, Theory U concepts, #ProductBeer, #ProductTonic and The Collab Folks (TCF) “The Learning Circle v1-v3” and “TCF v1-v5.5”.

Materials in Product Tonic Meetups

This work is based on “The Collab Folks”, Cactus team and many sources.