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4 minute read
As the leaders of a company, executives share the same vision and goals that their teams do. However, executives are more concerned with the long-term strategy of the company than the day-to-day work. Without constantly checking in with their employees, it can be difficult for them to know the status of projects.
Even when in communication with employees, the extent of the information only includes the details they think an executive needs. Crucial information can often slip through the cracks, leaving executives with an incomplete overview of the product portfolio.
Instead of sitting in on daily stand-ups, there are more organized solutions to providing executives with an updated oversight.
Top Questions Executives Have About the Product Portfolio
Defining the direction of an entire company is difficult. It requires an understanding of all of the components of the company, especially the product portfolio. To ensure alignment with market demands and overall product strategy, executives must ask product teams many questions. To understand the value a product provides the customer, they might ask what value proposition a product has.
An executive may also want to understand the competitive landscape of the market and ask how company products compare to competitor products. The financials associated with a product are also important for executives who may be wondering about the growth metrics of a product. With so many different questions and answers changing as initiatives progress, organizing them in one place can make staying updated easier.
What Is the Progress of Each Product?
Executives need to know what is happening within their business to perform their roles. They also need to be careful because trying to understand all of the smaller details across the business would be unnecessary. Status reports are great for the purpose of providing a high-level overview but make them dependent on the managers working with them, who are also very busy themselves. Contacting their product managers to set up an update session takes time and doesn’t provide a real-time solution.
What Are the Major Benefits of the Products Going to Launch?
The reason executives want to be in the know about the company’s products is because they need to understand how it will affect the company’s trajectory. Which of the company’s goals does launching this product fulfill? Even more importantly, how much closer to our goal will the success of this product push us? With these questions not having easily quantifiable answers, executives also want to know how the product management teams are actually measuring a product’s success in relation to the goals.
Does the Product Portfolio Line Up with Company Objectives?
Being in the know about the product portfolio allows executives to determine whether plans for a product actually line up with the company’s vision. An executive will typically have years of experience in an industry and possess a strong understanding of the market. Given up-to-date information, they will pinpoint the changes that need to be made to the product plans. Executives use their practical business experience and market knowledge to ensure the product portfolio aligns with long-term company goals and objectives and produces key results.
Are There Issues to Be Aware of?
Product initiatives can face a number of issues, especially when a product portfolio has many moving parts. An example of a timeline issue is when a product launch is planned for an inopportune time due to an unforeseen event. There may be a key dependency for another project that was missed while setting the timelines. With consumer preferences shifting rapidly, another scenario might be that the market has changed. These are all issues that executives need to know about and work with product managers to solve.
Product Roadmap Management Software:
The Simplest Way for Executives to Stay Informed on the Product Portfolio
When the future of the organization hinges on an executive's decision, you don’t want to run into any obstacles that they weren’t aware of. To give them all of the information they need on the product portfolio and timeline in one easily digestible format, Gocious’ Product Roadmap Management software is the top productivity tool that encourages cross-collaboration.
High-Level Information with a Single Login
Imagine logging into an easy-to-read dashboard where all the key information you need is displayed in one central location. Have the product portfolio at your fingertips and have details about the business activities driving the company readily available. Our dashboard provides the metrics executives care about at a glance.
Real-Time Updates
Instead of sending out an email or phone call requesting an update, waiting for a reply, and finally finding a time that works, only for it to be pushed back by another meeting, have everything you need to know without taking precious time out of you or your manager’s day. Gocious’ Product Roadmap Management software gives you real-time updates whenever you need them so that you will have more time for the rest of your tasks. You’ll be just as up-to-date as the rest of your team, working towards a common goal without being stuck with excessive details.
Only See What You Need to See
Executives do not need to know every single detail about a project. The main points that will affect your business objectives are what executives care about. We’re adding advanced filtration options to tailor your dashboard to your business knowledge needs. See metrics, project progress, issue alerts, and other information you care about. Not task lists, and other details meant for your engineers, designers, and marketers. Just the product portfolio overview you need to see to stay informed.
Product Roadmap Software for Product Executives
Gocious’ Product Roadmap Management software isn’t just a tool for product managers. It’s built for more than one type of user and adapts to suit user needs. Executives can see plans in action and compare projects to the company vision everyone needs to be following. See when, how, and how much each product or product line will help the company reach financial targets. Other product roadmapping tools might bog executives down with excessive information. Gocious provides a simple and effective overview that saves time, energy, and confusion with one simple login.
Your company executives need the right tools to work effectively and efficiently. Through our product roadmap management software, executives always have a high-level overview of project timelines, financials, issues, and key metrics so they can keep making decisions that will guide the future of the business.
Schedule a free demo today to learn more about how your organization can use Gocious product roadmap management software to improve transparency and keep their stakeholders in alignment across initiatives.
