spm 8 portfolio management
DESCRIPTION
8th Lecture for the Software Product Management course at Utrecht UniversityTRANSCRIPT
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Software Product Management Portfolio management
Lecture 8
Garm Lucassen
Sjaak Brinkkemper
19 September 2014
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Agenda
• Definitions
• Product lifecycle management
• Portfolio assessment models
• Product lines
• Partnering, contracting and IP
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The portfolio
• Portfolio is defined as the collection of assets and investments of an organization. (Krebs, 2009)
• Three portfolio’s can be distinguished:
1. Product portfolio (aka asset portfolio)
2. Project portfolio (incl proposals/ideas)
• Release projects, i.e. product releases
• Service projects, i.e. product implementations, customer consultancy, trainings, etc.
• Process improvement projects: internal change processes
3. Resource portfolio: HRM, capital, tooling infrastructure, offices
The Product Manager is responsible for establishing the corporate status and vision of the product portfolio. (c.f. SPM Competence Model)
In this lecture we focus on product portfolio management.
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Product portfolio
• Product portfolio concerns the set of existing products, i.e. releases of a product, that are on the market, and their associated services
• Example: Microsoft
– Windows - Multimedia and games
– Office Suite - Server software
– Developer tools - Certification program
• Example: Philips Medical
– X-ray - Ultrasonic
– Computed tomography - Services
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SPM Competence Model
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Portfolio management?
• Portfolio management is defined as the strategic decision process, whereby a business’s portfolio is constantly updated and revised in order to meet business objectives (Pohl et al., 2005)
• Bottom line: How to get the most out of your company’s investments and products! (Cooper, 2001; Krebs, 2009)
• Good portfolio management requires close oversight, constant review of historical and current performance, and the courage to rebalance and rationalize the portfolio when necessary while aligning your actions with the overall strategy of the organization (Haines, 2009)
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Portfolio management is...
• Ongoing Product portfolios should be analyzed frequently and not just once a year, or when things break
• Multi-dimensional Consider internal and external factors
• Multi-phased Consider all product across the entire lifecycle, including product being developed, launched, and already being sold in the market
• Investment balance A diverse product portfolio balances resource (manpower, budget, tooling) investments by considering how much is being invested in every product, across its lifecycle, considering the risks associated with each of those investments
(Haines, 2009)
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Goals of portfolio management
• Maximization of value of all products in the portfolio
• Balance or spread of risks related to ongoing and future projects
• Strategic alignment of all corporate initiatives with corporate vision
(Cooper et al., 2001)
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Typical portfolio questions
• What are the profitability rates of our products?
• What is our cash-cow for the future?
• What is missing in the portfolio?
• In which new product idea should we invest?
• How to balance resources over projects?
• Are there enough ideas in the pipeline?
• Which product should be terminated?
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Possible consequences of bad portfolio management
• Holes in the product portfolio
Example: Google Docs Drawing lacks integration with Visio
• Delays in the pipeline
Example: Duke Nuke Forever was 13 years late…
• Missing interface
Baan lacking a data warehousing integration with ERP product
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Agenda
• Definitions
• Product lifecycle management
• Portfolio assessment models
• Product lines
• Partnering, contracting and IP
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Product lifecycle management
• Managing a software product through its complete product
lifecycle from its initial conception till it is finally phased
out.
• Responsibility of Product Manager
• Involves decisions on:
– Features to be developed and (re)prioritized
– Releases of products
– Alterations and enhancements of the product
– Diversifications into new market segments
– Product phase out and end-of-life
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The software product lifecycle
Initiate
Design
Build
Test & integration
Release
Evolution
Phase-out
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Stages in the product lifecycle from an economical perspective
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Lower development
costs though
engineering efficiency
and knowledge re-use
Fast product
introduction. Possible
product price premium
and first provider
advantage
Reduce the cost of late
changes in product and
process development
Rapid innovation and
responsiveness to
market changes - add
new variants quickly
Improved market and
customer requirements
fulfillment and greater
ability to customize to
order
Sustained end-customer value
from consistent product
quality and performance Flexibility to enter new
markets and develop
mid-life kickers
Ability to extend
business value in
the aftermarket
Ways to optimize profits in the PLC
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Product management lifecycle model
New product planning
New product introduction
Post-launch management
Concept Feasibility Definition Development
Launch
Strategic and tactical management
DCP DCP MDP DCP
Areas of work
Phases and
gates
DCP = Decision Check Point MCP = Major Decision Point
MDP
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Product portfolio work area ‘buckets’
New product planning
New product introduction
Post-launch management
Concept Feasibility Definition Development Launch Growth Maturity Decline Exit
0
Negative cash flow
Positive cash flow
Break-even point
Releases
I II III
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Sunsetting / phasing out / end-of life
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Decisions on the phase out of products
• At some point in time a product should be phased-out and reaches its end-of-life
• Reasons for phasing out a product:
– No demand for the product anymore
– Maintenance becomes to expensive (as products grow)
– New product version that is released
– New product of competitor
– New technology or platform
– Bad performance in field (causing harm to company image)
– Legal constraints
• Elimination is sometimes difficult, i.e. the first product of the company or interdependencies between products
Why did Google kill Google Reader?
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Microsoft’s phase out policy
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Sonic Software’s phase out policy
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Agenda
• Definitions
• Product lifecycle management
• Portfolio assessment models
• Product lines
• Partnering, contracting and IP
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Portfolio assessment models
• Boston Consultancy Group Growth Share model
• GE/McKinsey model
• Shell Directional Policy Matrix model
• Porter’s five forces model
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BCG Growth Share model
Dimensions:
• Relative market share
• Market growth potential
Categories:
• Cash cows: high market share in a slow-growing industry. Generate funding for other products.
• Dogs: low market share in a mature, slow-growing industry. Break even, but should be sold off.
• Question marks: grow rapidly and consume large amounts of cash, do not generate much cash. Analyze for future investment or divestment
• Stars: high market share in fast-growing industry. Investments needed for market positioning Relative market share
High Low
Mark
et
gro
wth
pote
ntial
Hig
h
Low
Kill
Divest Prioritize
Invest
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General Electrics/McKinsey model
• Dimensions:
– Business position
– Industry attractiveness
Industry attractiveness
Busin
ess p
ositio
n
Harvest / divest
Harvest / divest
Selectively invest
Harvest / divest
Selectively invest
Invest / grow
Selectively invest
Invest / grow
Invest / grow H
igh
Low
High Low Medium
Mediu
m
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Shell Directional Policy Matrix
• Dimensions:
– Prospects for sector profitiability
– Company’s competitive capability
Prospects for sector profitability
Com
pany’s
com
petitive c
apability
Cash generation
Growth Leader
Phased withdrawal
Custodial Try harder
Disinvest Phased
withdrawal Double or
quit
Weak
Str
ong
Attractive Unattractive Average
Avera
ge
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Porter’s five forces analysis
• Framework for industry analysis and business strategy development
• Michael E. Porter, Harvard Business School, 1979
• Three forces from ‘horizontal competition’
• Two forces from ‘vertical competition’
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Forrester Wave
Enterprise Data Warehouses
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Agenda
• Definitions
• Product lifecycle management
• Portfolio assessment models
• Product lines
• Partnering, contracting and IP
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Product lines: managed variability
• A product line is a range of software products sharing a common platform and exhibiting similar features
• Why product lines?
– A common platform results in higher quality, lower cost (re-use) and shorter time-to-market
– Mass-customization: Tailoring products to customer requirements using built in variability
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Examples
• Example 1
– Microsoft’s Office product line
– Consisting of product types such as Word, Powerpoint, Project and Visio. They can be used in combination and customized individually
• Example 2
– Home automation product line
– Consisting of product types such as home security system, lighting control system, remote access extensions. Of each of the types different products are available that can be assembled into a home automation system
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Document variability in product lines
• To support
– Decision making
– Communication
– Traceability
• What to document?
– What varies?
– Why does it vary?
– How does it vary?
– For whom is it documented (internal/external)?
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Defining variability in a product line
• Variation point: A variable item of the real world or a variable property of such an item, e.g. color or language
• Variant: An instance of a variation point, e.g. ‘green’ or ‘Japanese’
• Variability of a product line, e.g. option to select the user interface language
• Commonality of a product line, e.g. every variant within the product line offers the option to select the user interface
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Meta-variability model
VARIATION POINT VARIANT
VARIABILITY
DEPENDENCY
EXTERNAL
VARIATION
POINT
INTERNAL
VARIATION
POINT OPTIONALMANDATORY
{complete, disjoint}
{complete, disjoint}
1..n 1..n
ALTERNATIVE
CHOICE
Min
Max
0..1
2..n
part of
0..n0..n
Source: Pohl et al., 2005
Optional Mandatory
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Graphical notation
[name]
VP [name]
V Mandatory
Optional
[min, max] Requires V_V / VP_VP / V_VP
Excludes V_V / VP_VP / V_VP
Variation point Variant Variability dependencies
Alternative choice Constraint dependencies
Source: Pohl et al., 2005
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Example: home security system
Security package
VP
Basic
V
Advanced
V
Intrusion detection
VP
Camera surveillance
V Window sensors
V
Motion sensors
V
Requires V_V
Requires V_V
Source: Pohl et al., 2005
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Agenda
• Definitions
• Product lifecycle management
• Portfolio assessment models
• Product lines
• Partnering, contracting and IP
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Partners
• Implementation partners – SAP Implementation Partners:
Accenture, Cap Gemini, Deloitte, etc.
• Development partners – (Offshore) development
partners for parts of your product
• Distribution partners – Microsoft Windows for Adobe (Flash, Acrobat, etc.)
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Service level agreement example
• The service is used by description of user community to describe the service capability. The IT department guarantees that:
– The service will be available percentage of the time from normal hours of operation. Any individual outage in excess of time period exceeding time period per month will constitute a violation.
– The IT department will respond to service incidents within time period, resolve the problem within time period, and update status every time period. Missing any of these metrics on an incident will constitute a violation.
– The IT department will respond to non-critical inquiries within time period, deliver an answer within time period, and update status within time period. Missing any of these metrics on an incident will constitute a violation.
(www.sun.com)
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Intellectual property
• Intellectual Property (IP) is any intangible asset that consists of human knowledge and ideas.
• Examples are patents, copyrights, trademarks, designs, models, and software.
• IP cannot be recognized on a balance sheet when internally generated, since it is very difficult to objectively value intellectual property assets
– Different rules apply in the case of software that has been released and sold, as this generates revenue.
• They can, however, be included in a balance sheet if acquired, which allows a more accurate valuation for the asset.
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Microsoft vs. MikeRoweSoft
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Relevant forms of IP
1. Copyrights
2. Trade Secrets/Know How
3. Trademarks
4. Patents
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Copyrights
• The copyright is the exclusive right of the creator of a work of art or science, or of its right obtainers, to publish and distribute the work, except for legal restrictions.
• Exist the moment an idea is reduced to tangible form:
– creating a design
– writing source code
– making a website
– etc.
• Usually owned by the employer by means of the employment contract
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Trade secrets / know how
• Crucial knowledge related to a business
– Product, services, processes
– Customers
– Organization, state of affairs
• Often intangible in form; “the way we do things”
• Non Disclosure Agreements (NDA)
• Competition constraint
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Trademarks
• A trademark is the exclusive right to utilize an expression of art or science to identify a good
• The purpose of a trademark is to distinguish the own character
and to establish a reputation.
• A trademark can be: – Name – Shape – Drawing – Print – Stamp – Flagrance – Colour
– Slogan: Sense and simplicity
• Proper designation: McDonalds or
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Patent
• Exclusive right to exploit an invention
• Issued by national government authority, valid for 20 years
• Used by many technology companies to protect intellectual capital
• Design can be patented; no need for sellable product
• Owned by inventor or employer
• Employee is recognized and rewarded as inventor
• Requirements: – Novelty: not existent before
– Inventive: the work of an inventor
– Useful: concrete and tangible
– Not sold! Can be in beta-test
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Patent
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Open source
• Open Source: “free” als in Free Record Shop
– Sun bought MySQL (1B$), Red Hat bought JBoss (420M$),…
• 3 types of open source
– Free-for-all
– Keep-open
– Share-alike
• GNU and FSF looking for legal showcases
– Most are settled (so far)
– Keep away…
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Using their open source licenses
• Check for each piece whether you want to use it or not
– Modification, reciprocal, copyleft, patent infringments, relicensing
• Examples:
– GPL: all software that uses the it must itself be open sourced.
– LGPL: provides an exception to the usage and distribution of the
software, allowing for non-free products to include the LGPL'ed
software
• Make a policy, communicate with developers
• NOTICE, reciprocity, linking, … consequences
• Keep a list of used third party tools
– Version, licenses, sources, changes
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SPM Competence Model
57
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References
• Grieves, M. (2006). Product Lifecycle Management: Driving the next generation of lean thinking. McGraw-Hill: New York.
• Microsoft Support Lifecycle: http://support.microsoft.com/default.aspx?scid=fh;en-us;lifecycle&SD=gn&LN=nl#Service%20Pack%20Support
• Hamm, R., Bostic, P., and Payne, K. (2002). The SAS system on the Windows and Microsoft.NET platforms: Time for a change? Whitepaper SAS Inc.
• Cooper, R.G., Edgett, S.J., Kleinschmidt, E.J. (2001). Portfolio Management for New Products. Perseus Publishing: Cambridge, MA.
• Krebs, J. (2009). Agile Portfolio Management. Microsoft Press: Redmond, Washington.
• Pohl, K., Böckle, G., Linden, F. van der (2005). Software Product Line Engineering. Springer-Verlag: Berlin.
• Haines, S. (2009). The Product Manager’s Desk Reference. McGraw-Hill: New York.
• Vähäniitty, J. (2004). Product portfolio management in small software product businesses – a tentative research agenda. Proceedings of the 6th International Workshop on Economics-Driven Software Engineering Research (EDSER-6), pp. 48–52.
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Software Product Management Interviewing and Asssessing
Lecture 9
Garm Lucassen
Sjaak Brinkkemper
19 September 2014
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SAM Tool
• Let’s have a look at the actual tool…
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Performing the assessment
Introductions:
• Introduce yourself, tell a bit about:
– Your background (study, etc.)
– Why you are performing this research
– What’s in it for the product manager
• Let the product manager introduce himself:
– What is his background (how did he become a product manager, what did he do before, how long has he been a product manager, etc.), and write this down as well.
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Performing the assessment
During the interview:
• Don’t interrupt the product manager too much.
– You might hear some interesting stories which help you with questions yet to come.
– But keep an eye on the time and gently steer the product manager back to the questions if needed.
• It’s ok to ask questions besides those in the questionnaire.
– There is probably a lot you can learn from a product manager/practice, use the opportunity.
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Performing the assessment
During the interview:
• The questions do not have to be answered in the order they are presented in (though it is probably easier if you do stick to the order given).
• Don’t get carried away to much in the story of the product manager
– A PM might want to look good
• Don’t count halves as wholes
– If a capability is only implemented ‘sometimes’ than this is not a solid process
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Performing the assessment
Closing:
• Indicate when the product manager will receive the results
• Invite product manager to industry feedback session
• Thank him/her
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Tips
• Keep asking questions
• Question their answers
• Ask for proof
• Expect situational factors to have no impact
• Gaps are to be expected
• Argue