58 min

9: Thinking Through Assumptions and Managing the Risks How To Succeed In Product Management | Jeffrey Shulman, Red Russak & Soumeya Benghanem

    • Management

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Dontae Delgado (Compass) and Siddhartha Rabindran (Microsoft) to discuss managing assumptions and start ranking them from the top most important to the least important, and build a framework around it to help develop the product. Assumptions, when correctly utilized and tested in the right environment exponentially helps product leaders find success. 


 


Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.


 


What to Listen For:


00:00 Intro

01:42 The importance of managing assumptions and risk management

03:46 It’s easy to become comfortable with the flows of the product

05:11 Clarity plays an important role in managing assumptions

08:44 The different classifications of assumptions

10:45 Approach is the most important part of addressing assumptions

13:55 Assumption prompts to make assumptions explicit

15:52 The build versus buy evaluation

19:53 After generating assumptions, start ranking them

23:36 Critical path is about the solution and the framing

24:25 Proper documentation is key to effective communication

27:17 Situations that could happen when assumptions aren’t made

29:45 Reference books and resources for assumption management

37:04 How do you go about validating assumptions?

40:31 The product team considers four important things: product, market, channels, and business model

43:42 Producer and consumer framework in critical in managing expectations

47:31 Building a culture of domain empathy

50:28 Assumptions are an integral part of everything we do

54:13 Assumptions are linchpin to product success

55:29 Some assumptions, when utilized correctly or incorrectly, either hurt or help the products

In this episode of the How to Succeed in Product Management Podcast, marketing professor Jeff Shulman and The Product Management Center advisory board members Red Russak and Soumeya Benghanem welcome Dontae Delgado (Compass) and Siddhartha Rabindran (Microsoft) to discuss managing assumptions and start ranking them from the top most important to the least important, and build a framework around it to help develop the product. Assumptions, when correctly utilized and tested in the right environment exponentially helps product leaders find success. 


 


Support for How to Succeed in Product Management is brought to you by Apptentive, which enables product managers to measure shifts in customer emotion and gather actionable feedback across the mobile customer journey. To learn more, go to Apptentive.com/UW.


 


What to Listen For:


00:00 Intro

01:42 The importance of managing assumptions and risk management

03:46 It’s easy to become comfortable with the flows of the product

05:11 Clarity plays an important role in managing assumptions

08:44 The different classifications of assumptions

10:45 Approach is the most important part of addressing assumptions

13:55 Assumption prompts to make assumptions explicit

15:52 The build versus buy evaluation

19:53 After generating assumptions, start ranking them

23:36 Critical path is about the solution and the framing

24:25 Proper documentation is key to effective communication

27:17 Situations that could happen when assumptions aren’t made

29:45 Reference books and resources for assumption management

37:04 How do you go about validating assumptions?

40:31 The product team considers four important things: product, market, channels, and business model

43:42 Producer and consumer framework in critical in managing expectations

47:31 Building a culture of domain empathy

50:28 Assumptions are an integral part of everything we do

54:13 Assumptions are linchpin to product success

55:29 Some assumptions, when utilized correctly or incorrectly, either hurt or help the products

58 min