Actionable Metrics Framework in Lean Software Product Development

The book proposed the actionable metrics framework for full life cycles of Lean product development, from an initial idea to a scaled product (and declined). It covers metrics in both validating business viability of the product as well as development efficiency. The framework was specifically designed for B2C online platforms as well as SaaS applications. However, the ideas of the framework can be applicable in any businesses that are employing or willing to employ Lean methodology in their product development.
-Ideas management and selection:
Discussed problems and practices in ideas management and selection; proposed metrics framework to select ideas for further investment. Aim of these metrics are to increase chances ideas that best align to business objectives would be considered and selected.
-Business model:
Discussed traditional approach in business model and Lean canvas; proposed approach in business model which eliminates waste on fictitious projections and ensures the key business aspects are considered before making decisions to invest further on product discovery and development. Business model also provides basic hypotheses for further product development and validation.
-Discovery: problem/solution fit validation
Provided qualitative and quantitative metrics framework to initially validate if the problem that the product is trying to resolve actually exists; the solutions offered by the product can resolve the problem and desired by prospective customers; the product can deliver and capture values as expected. This is the first minimum investment to validate if the product is desirable and viable before further investment can be made in developing the real product. This metrics framework also helps to understand better about customers and market segment to build better product and business model that can deliver and capture optimal values.
-MVP: product/market fit validation
Discussed and proposed actionable metrics framework to validate product/market fit via customer stickiness, revenue and virality on minimum viable product with minimum investment. It provides indicators if product is business viable to invest further and whether it achieves sustainable model for scale. It helps to eliminate unviable product, avoid premature scale which is reported as one of the top reason that fails start-ups. The metrics also suggest actions to optimise profits and growth.