Making Changes
Examining the trends and the business ecosystem that surround a project gives deeper insight into the best reasons and ways to develop a product. Doing so will also help manage threats and opportunities for the business to act on. One way to evaluate such would be doing the PESTLE analysis.
The PESTLE analysis is a framework used by businesses to analyze and monitor external factors around a project or the organization. Doing the PESTLE analysis involves capturing data categorized by the following factors:
● Political – Government policies, political stability, foreign trade policies, tax policies, and other policies affect how collaboration and businesses can be done within a region.
● Economic – Interest and exchange rates, stock markets, recessions, cost of living, and other economic factors have an impact on the extent to which an organization can be Agile.
● Social – Shared beliefs, demographics, social media, and workforce culture indicates how the organization is structured internally and how it interacts with businesses externally.
● Technological – Trends in goods, services, communications, and innovations influence what direction the organization will take in terms of operations and productization.
● Legal – Insurance, taxations, compliance legislation, and other legal policies regulate company activities and operations.
● Environment – Climate, ecology, sustainability, and material scarcity should be taken into consideration in planning around and implementing any activity in the organization.
It is beneficial for business leaders and managers to keep track of these factors continuously in order to help keep the organization abreast of threats and opportunities. Having these data further support the decision making towards progress and innovation in the organization.
As a Product Owner, your focus should be getting your product out as soon as you’ve intercepted and validated your idea. Unless you know exactly what you need to do, sticking to a traditional approach like Waterfall will prevent your product from improving and adapting to the market. Using Agile practices and being equipped with information on the business ecosystem will help you find your way out of development rut and up the competitive ladder.
Recommended Further Reading
The following materials may assist you in order to get the most out of this course:
Course Contents
Section 1: Agile Project Management
Section 2: Using the Agile Manifesto to Deliver Change
Section 3: The 12 Agile Principles
Section 4: The Agile Fundamentals
Section 5: The Declaration of Interdependence
Section 6: Agile Development Frameworks
Section 7: Introduction to Scrum
Section 8: Scrum Projects
Section 9: Scrum Project Roles
Section 10: Meet the Scrum Team
Section 11: Building the Scrum Team
Section 12: Scrum in Projects, Programs & Portfolios
Section 13: How to Manage an Agile Project
Section 14: Leadership Styles
Section 15: The Agile Project Life-cycle
Section 16: Business Justification with Agile
Section 17: Calculating the Benefits With Agile
Section 18: Quality in Agile
Section 19: Acceptance Criteria and the Prioritised Product Backlog
Section 20: Quality Management in Scrum
Section 21: Change in Scrum
Section 22: Integrating Change in Scrum
Section 23: Managing Change in Scrum
Section 24: Risk in Scrum
Section 25: Risk Assessment Techniques
Section 26: Initiating an Agile Project
Section 27: Forming the Scrum Team
Section 28: Epics and Personas
Section 29: Creating the Prioritised Product Backlog
Section 30: Conduct Release Planning
Section 31: The Project Business Case
Section 32: Planning in Scrum
Section 33: Scrum Boards
Section 34: Sprint Planning
Section 35: User Stories
Section 36: User Stories and Tasks
Section 37: The Sprint Backlog
Section 38: Implementation of Scrum
Section 39: The Daily Scrum
Section 40: The Product Backlog
Section 41: Scrum Charts
Section 42: Review and Retrospective
Section 43: Scrum of Scrums
Section 44: Validating a Sprint
Section 45: Retrospective Sprint
Section 46: Releasing the Product
Section 47: Project Retrospective
Section 48: The Communication Plan
Section 49: Formal Business Sign-off
Section 50: Scaling Scrum
Section 51: Stakeholders
Section 52: Programs and Portfolios