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Am I Eligible to Get PMP® Certified? - A Complete Checklist of PMP Exam Prerequisites

Doesn’t this question sound familiar? Your quest for PMP® certification begins with this question and it is also an important piece of information for every PMP® aspirant. The Project Management Professional (PMP)® is the most important certification for project managers across all industries. It is a truly global certification which allows you to lead projects almost in every country. Further, it enables you to work in any industry by deploying any methodology in any location.But before you begin your PMP® journey you need to meet certain education and experience requirements to meet the standards set by PMI in order to appear for your PMP® exam. The experience requirement shows your soft skills to sit for the PMP® exam and the educational requirements show that you have enough theoretical background to manage a project. However, your experience requirement for PMP® changes depending on the educational requirement which you satisfy. This blog will answer all your queries about the eligibility requirement for PMP® certification.The eligibility requirements for PMP®A salary survey conducted by the Project Management Institute (PMI) shows that PMP® certified project managers tend to earn more compared to their non-certified counterparts. PMP® certification warrants a certain level of knowledge on the project management area. The reason that companies and organisations give high credit to PMP® certification compared to other certificates in the industry because PMI has a very strict application and audit process for relevant education and experience requirements that one needs to be PMP® certified.As the employer has high regards for the certification, once you show a PMP® certification in your resume he or she will that you have met the strict PMP® certification requirements which proves a certain level of practice and knowledge on project management. It is not easy for someone to sit and pass the PMP® certification exam.If you are wondering about where can you check for these requirements then you will find all the criteria set by PMI for taking the PMP®  exam in the PMP® Credential Handbook. You can download the free version of this handbook from PMI's Website. It will help you to know everything about PMP® certification, who is eligible to apply, and how to go about applying. The eligibility requirements for taking the exam are as follows:You should hold a bachelor’s degree or the global equivalent with at least three years of project management experience. The three years of experience is expected to be comprised of 4,500 hours which you have spent directing and leading projects and 35 hours of project management education.In case, you don’t have a four-year degree, you need to have a secondary diploma (high school or global equivalent) with at least project management experience of 5 years. The five years of experience should comprise of 7,500 hours which you have spent directing and leading projects and project management education of around 5 hours.Need more clarity on the eligibility criteria? Then the following chart will surely help you to clarify your doubts.Eligibility RequirementFour-year degree or global equivalentSecondary degree or global equivalentYears of Project Management Experience3 Years (36 months)5 Years (60 months)Hours Leading & Directing Projects4,500 Hours7,500 HoursHours of Project Management Education35 Hours35 HoursMeet the 35 contact hours Project Management Education Requirement for PMP®You need to match one of the eligibility requirements which is required for you to appear for your PMP® certification exam. But it is also important for you to complete 35 hours of Project Management Education in order to fulfill the eligibility requirement to sit for the PMP® exam.You must be wondering about how can you earn the 35 hours of Project Management education requirement. You can enroll in a PMP® certification training to earn the same. These training also help you to prepare for your PMP® exam and get proper support from the experts to clear your PMP® exam at one shot.Acceptable experiences to be eligible for PMP® examThe experiences mentioned by you in your application should cover all the five processes as mentioned in the PMBOK® Guide. But you should keep in mind that it is not necessary for all of these processes to be in one single project. You can find a full list of acceptable tasks, knowledge, and skills in PMI’s PMP® Examination Content Outline. Few of the tasks that you might be performing and which would be acceptable are as follows:You should define the high-level scope of the project based on the requirements of business and compliance to meet the customer project expectations.Obtain approval to execute the project by presenting the project plan to the key stakeholders (if required).Achieve the project deliverable within the schedule and budget by executing the tasks as defined in the project plan.Get feedback from the stakeholders by communicating the project status to ensure that the business needs are aligned to the project aligns.Work with the customer and the sponsor to obtain final acceptance of the project deliverable to confirm that project deliverables and scope were met.Ways to gather the required experienceYou need to meet the PMP® experience requirement to be eligible in order to gain PMP® certification. But how can you gather enough experience? As discussed, you need to earn experience of 4,500 to 7,500 hours of directing and leading projects depending on your educational qualification.The following ideas can help you to overcome this obstacle:Full-time Project ManagersIf you are working as a Project Manager or in a similar position which gives you a full-time opportunity to lead and direct projects, then it’s easy. If you don’t have enough hours then you can go ahead with what you are doing and with time you will gather the required number of hours. If you are not a full-time Project ManagerDon’t have enough hours to meet the required experience eligibility? It even gets trickier when you are not in a role which gives you an opportunity to direct or lead projects. If you are not managing projects at all or managing projects part-time, you are collecting hours of experience at a slower rate compared to a full-time project manager. You can increase the rate in the following ways:By changing your roleYou can increase the amount of time spent on managing projects using the most effective solution, i.e. by changing your role. You can go for a wider discussion about your career development with your employer by stating clearly that you would like to provide more value to your employer by directing and leading projects.If you get an opportunity to become a full-time project manager then you are on your way to collect the required hours as soon as possible. By changing your companyIn case you are not getting an opportunity to shift to a different kind of responsibility in your current company then you should change the company you are working for. You might find a suitable opportunity to negotiate better terms and conditions than you are having in your current company. This will surely allow you to speed up the process of earning the required hours of experience in order to meet the PMI eligibility requirement.VolunteeringYou can always check for volunteering opportunity with your local PMI chapter which would also expose you to additional benefits. This will also provide you with more and better networking opportunities at the same time. You can earn the required experience hours through volunteering.Is PMI Membership Mandatory for me to get PMP®  certified?This is another question that you tend to ask while beginning your PMP® journey. You don’t have to be a PMI member in order to appear for your PMP® certification exam. But there are surely a few benefits which you can reap from your PMI membership. The benefits are as follows:As a PMI member, you can receive a significant discount on your PMP® exam application fee. Once you become a PMI member, you will realise that the cost of membership is comparatively lesser than the discounts which you get.You get access to a free PDF copy of the PMBOK Guide as a PMI member which is an important resource to prepare and pass your exam.Moreover, many local PMI chapters offer discounts on their PMP® exam preparation workshops to PMI members.PMP® certification costApart from the above-mentioned information about the eligibility requirements, there are certain costs related to PMP® exam. We can divide the cost of PMP® certification into the cost of PMP® certification training and the PMP® exam fee. But there is another hidden cost related to it which you should be aware of. This is the cost of the time which you will spend while studying for the PMP® certification exam. Let’s try to understand these costs in detail.Cost of 35 hours of Project Management TrainingYou are expected to meet certain eligibility criteria before appearing for the PMP Certification exam. Apart from other eligibilities, it is necessary for you to attend at least 35 hours of project management course. So, the major question which arises here is that how much do these certification courses cost?The cost of PMP® certification training varies based on the type of training which you are willing to take. Mostly, you need to make a choice between PMP® certification classroom training and online PMP® certification training. Also, the cost of your training depends on the country you are located. Usually, the cost of PMP® certification training ranges between $500 to $2,000.  The following chart will give you a clear idea about the cost of PMP® certification classroom training across other countries:CountriesPrice of classroom trainingAmerica, Canada, Australia$1,500South America (Brazil, Chile etc.)$600China, India$500European Countries$1,200Arabian Countries$2,000Exam Preparation TimeAs a busy professional, the time you spend for your project management education might cost you your precious leisure time. But you can save your time by opting for a self-paced online PMP certification training cost. For instance, you can plan to spend 5 to 6 hours a week to study in order to pass your PMP® exam. The duration of your training will certainly depend on your dedication, professional experiences, and your background in project management.  PMP®  Exam FeeOnce you are done with your 35 hours of project management education, you need to take your PMP® exam in a Prometric test center. You need to schedule your exam date in the nearest Prometric test center after PMI accepts your application. The PMP® certification exam fee can be brought down by becoming a PMI member.You can also get a free copy of PMBOK® by becoming a PMI member. Other than that, there are numerous other benefits which you can reap from your PMI membership.To sum up, the cost of PMP® certification depends on the course you decide to take. Your total PMP® certification cost will be nearly $750 if you choose to get your project management education through an online course. You can also continue preparing with a PMP® certification classroom training by spending around $1,700 including the exam fee.ConclusionThis blog will surely help you to understand the eligibility requirements to sit for your PMP® certification exam and the ways to attain them. This information will help you to prepare to begin your PMP® certification journey by fulfilling the required educational qualification and work experience. Further, the PMP® certification cost is a really essential piece of information when you plan to begin your PMP® certification journey.Earn the required experience hours by changing your role or volunteering with your local PMI chapter. Wish you all the best for your PMP® journey!

Am I Eligible to Get PMP® Certified? - A Complete Checklist of PMP Exam Prerequisites

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Am I Eligible to Get PMP® Certified? - A Complete Checklist of PMP Exam Prerequisites

Doesn’t this question sound familiar? Your quest for PMP® certification begins with this question and it is also an important piece of information for every PMP® aspirant. The Project Management Professional (PMP)® is the most important certification for project managers across all industries. It is a truly global certification which allows you to lead projects almost in every country. Further, it enables you to work in any industry by deploying any methodology in any location.

But before you begin your PMP® journey you need to meet certain education and experience requirements to meet the standards set by PMI in order to appear for your PMP® exam. The experience requirement shows your soft skills to sit for the PMP® exam and the educational requirements show that you have enough theoretical background to manage a project. However, your experience requirement for PMP® changes depending on the educational requirement which you satisfy. 

This blog will answer all your queries about the eligibility requirement for PMP® certification.

The eligibility requirements for PMP®

A salary survey conducted by the Project Management Institute (PMI) shows that PMP® certified project managers tend to earn more compared to their non-certified counterparts. PMP® certification warrants a certain level of knowledge on the project management area. The reason that companies and organisations give high credit to PMP® certification compared to other certificates in the industry because PMI has a very strict application and audit process for relevant education and experience requirements that one needs to be PMP® certified.

As the employer has high regards for the certification, once you show a PMP® certification in your resume he or she will that you have met the strict PMP® certification requirements which proves a certain level of practice and knowledge on project management. It is not easy for someone to sit and pass the PMP® certification exam.

PMP eligibility requirements


If you are wondering about where can you check for these requirements then you will find all the criteria set by PMI for taking the PMP®  exam in the PMP® Credential Handbook. You can download the free version of this handbook from PMI's Website. It will help you to know everything about PMP® certification, who is eligible to apply, and how to go about applying. The eligibility requirements for taking the exam are as follows:

  • You should hold a bachelor’s degree or the global equivalent with at least three years of project management experience. The three years of experience is expected to be comprised of 4,500 hours which you have spent directing and leading projects and 35 hours of project management education.
  • In case, you don’t have a four-year degree, you need to have a secondary diploma (high school or global equivalent) with at least project management experience of 5 years. The five years of experience should comprise of 7,500 hours which you have spent directing and leading projects and project management education of around 5 hours.

Need more clarity on the eligibility criteria? Then the following chart will surely help you to clarify your doubts.

Eligibility Requirement

Four-year degree or global equivalent

Secondary degree or global equivalent

Years of Project Management Experience

3 Years (36 months)

5 Years (60 months)

Hours Leading & Directing Projects

4,500 Hours

7,500 Hours

Hours of Project Management Education

35 Hours

35 Hours

Meet the 35 contact hours Project Management Education Requirement for PMP®

You need to match one of the eligibility requirements which is required for you to appear for your PMP® certification exam. But it is also important for you to complete 35 hours of Project Management Education in order to fulfill the eligibility requirement to sit for the PMP® exam.

You must be wondering about how can you earn the 35 hours of Project Management education requirement. You can enroll in a PMP® certification training to earn the same. These training also help you to prepare for your PMP® exam and get proper support from the experts to clear your PMP® exam at one shot.

Acceptable experiences to be eligible for PMP® exam

The experiences mentioned by you in your application should cover all the five processes as mentioned in the PMBOK® Guide. But you should keep in mind that it is not necessary for all of these processes to be in one single project. You can find a full list of acceptable tasks, knowledge, and skills in PMI’s PMP® Examination Content Outline

Few of the tasks that you might be performing and which would be acceptable are as follows:

  • You should define the high-level scope of the project based on the requirements of business and compliance to meet the customer project expectations.
  • Obtain approval to execute the project by presenting the project plan to the key stakeholders (if required).
  • Achieve the project deliverable within the schedule and budget by executing the tasks as defined in the project plan.
  • Get feedback from the stakeholders by communicating the project status to ensure that the business needs are aligned to the project aligns.
  • Work with the customer and the sponsor to obtain final acceptance of the project deliverable to confirm that project deliverables and scope were met.

Ways to gather the required experience

Full time Project Manager vs part time Project Manager

You need to meet the PMP® experience requirement to be eligible in order to gain PMP® certification. But how can you gather enough experience? As discussed, you need to earn experience of 4,500 to 7,500 hours of directing and leading projects depending on your educational qualification.

The following ideas can help you to overcome this obstacle:

  • Full-time Project Managers

If you are working as a Project Manager or in a similar position which gives you a full-time opportunity to lead and direct projects, then it’s easy. If you don’t have enough hours then you can go ahead with what you are doing and with time you will gather the required number of hours. 

  • If you are not a full-time Project Manager

Don’t have enough hours to meet the required experience eligibility? It even gets trickier when you are not in a role which gives you an opportunity to direct or lead projects. If you are not managing projects at all or managing projects part-time, you are collecting hours of experience at a slower rate compared to a full-time project manager. You can increase the rate in the following ways:

  • By changing your role

You can increase the amount of time spent on managing projects using the most effective solution, i.e. by changing your role. You can go for a wider discussion about your career development with your employer by stating clearly that you would like to provide more value to your employer by directing and leading projects.

If you get an opportunity to become a full-time project manager then you are on your way to collect the required hours as soon as possible. 

  • By changing your company

In case you are not getting an opportunity to shift to a different kind of responsibility in your current company then you should change the company you are working for. You might find a suitable opportunity to negotiate better terms and conditions than you are having in your current company. This will surely allow you to speed up the process of earning the required hours of experience in order to meet the PMI eligibility requirement.

  • Volunteering

You can always check for volunteering opportunity with your local PMI chapter which would also expose you to additional benefits. This will also provide you with more and better networking opportunities at the same time. You can earn the required experience hours through volunteering.

Is PMI Membership Mandatory for me to get PMP®  certified?

PMI Membership

This is another question that you tend to ask while beginning your PMP® journey. You don’t have to be a PMI member in order to appear for your PMP® certification exam. But there are surely a few benefits which you can reap from your PMI membership. The benefits are as follows:

  • As a PMI member, you can receive a significant discount on your PMP® exam application fee. Once you become a PMI member, you will realise that the cost of membership is comparatively lesser than the discounts which you get.
  • You get access to a free PDF copy of the PMBOK Guide as a PMI member which is an important resource to prepare and pass your exam.
  • Moreover, many local PMI chapters offer discounts on their PMP® exam preparation workshops to PMI members.

PMP® certification cost

PMP Certification CostApart from the above-mentioned information about the eligibility requirements, there are certain costs related to PMP® exam. We can divide the cost of PMP® certification into the cost of PMP® certification training and the PMP® exam fee. But there is another hidden cost related to it which you should be aware of. This is the cost of the time which you will spend while studying for the PMP® certification exam. Let’s try to understand these costs in detail.

  • Cost of 35 hours of Project Management Training

You are expected to meet certain eligibility criteria before appearing for the PMP Certification exam. Apart from other eligibilities, it is necessary for you to attend at least 35 hours of project management course. So, the major question which arises here is that how much do these certification courses cost?

The cost of PMP® certification training varies based on the type of training which you are willing to take. Mostly, you need to make a choice between PMP® certification classroom training and online PMP® certification training. Also, the cost of your training depends on the country you are located. Usually, the cost of PMP® certification training ranges between $500 to $2,000.  

The following chart will give you a clear idea about the cost of PMP® certification classroom training across other countries:

CountriesPrice of classroom training
America, Canada, Australia$1,500
South America (Brazil, Chile etc.)$600
China, India$500
European Countries$1,200
Arabian Countries$2,000
  • Exam Preparation Time

As a busy professional, the time you spend for your project management education might cost you your precious leisure time. But you can save your time by opting for a self-paced online PMP certification training cost. 

For instance, you can plan to spend 5 to 6 hours a week to study in order to pass your PMP® exam. The duration of your training will certainly depend on your dedication, professional experiences, and your background in project management.  

  • PMP®  Exam Fee

Once you are done with your 35 hours of project management education, you need to take your PMP® exam in a Prometric test center. You need to schedule your exam date in the nearest Prometric test center after PMI accepts your application. The PMP® certification exam fee can be brought down by becoming a PMI member.

You can also get a free copy of PMBOK® by becoming a PMI member. Other than that, there are numerous other benefits which you can reap from your PMI membership.

To sum up, the cost of PMP® certification depends on the course you decide to take. Your total PMP® certification cost will be nearly $750 if you choose to get your project management education through an online course. You can also continue preparing with a PMP® certification classroom training by spending around $1,700 including the exam fee.

Conclusion

This blog will surely help you to understand the eligibility requirements to sit for your PMP® certification exam and the ways to attain them. This information will help you to prepare to begin your PMP® certification journey by fulfilling the required educational qualification and work experience. Further, the PMP® certification cost is a really essential piece of information when you plan to begin your PMP® certification journey.

Earn the required experience hours by changing your role or volunteering with your local PMI chapter. Wish you all the best for your PMP® journey!

KnowledgeHut

KnowledgeHut

Author

KnowledgeHut is an outcome-focused global ed-tech company. We help organizations and professionals unlock excellence through skills development. We offer training solutions under the people and process, data science, full-stack development, cybersecurity, future technologies and digital transformation verticals.
Website : https://www.knowledgehut.com

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What Is Project Management Software & What Are Its Advantages

Over the years, there has been tremendous progress in technology. This has resulted in projects getting more complicated and extensive. Also, since our world is shrinking and geographies are getting closer, our projects are getting pan-global, involving resources from across the globe. What project managers need these days to effectively carry out tasks and ensure project success are tools that will help them manage their resources, time and money better.There are several such project management software engineering tools available in the market and this blog is your go-to guide to decide how to choose the right software tools to make your life easier as a project manager.What Is Project Management Software?What do project managers need? A tool that will help them better plan and schedule, manage resources, communicate and collaborate with stakeholders and team members. Project management software helps perform all these activities and more.Here is a list of things a project management software tool helps to accomplish: Project planning and scheduling Resource allocation Performance tracking Budget and cost management Change management Collaboration and communication  Risk mitigation Monitoring performanceThere are several project management software platforms available, that provide several tools for easy project management. The main purpose of a project management software is to help in planning and tracking of the project components and facilitate communication between those involved.  Some of the project management software packages available in the market include: Monday.com Microsoft Projects Skype Celoxis  Wrike Benefits of project management software: There are several benefits that project management software have to offer. Specifically, a project management software should help with: Planning and scheduling:Planning and scheduling are the most important aspects of a project manager’s role. These include assigning tasks to resources, scheduling time for these tasks to be completed and allocating a budget for these tasks. Project planning and scheduling are used to attain project objectives and can be thought of as a comprehensive outline of the project objectives, scope, budget and time. An effective project management software should be able to help the project manager define and map project tasks efficiently.   Team collaboration:Successful projects require utmost collaboration and communication between team members. Today’s projects are more distributed, with teams working from different corners of the globe. In such a scenario having a tool that maximises collaboration between team members will also result in positive outcomes for the project. And not just team members, effective collaboration needs to be maintained with the clients and stakeholders too.This is especially true for Agile projects that focus on transparency and trust. An effective platform to communicate the project milestones and challenges will help keep everyone on the same page in the context of the project.  Task delegation:Task delegation is an important aspect of project management. A good project management tool will help in effective task delegation by allowing the creation of tasks, assignment of tasks to resources, setting of deadlines and generating status reports. Accessing and sharing files:Multiple team members working on a project will need to access shared resources such as files, trackers, reports etc. Efficient project management software should be able to provide a central repository of files and other shared resources that can be accessed by all team members, which in turn will enhance the productivity of the team.  Integrating new members:Just like a good project management software will help automate tasks and collaborate, it will also help in easy integration of new members to the existing team. Risk management and mitigation:Every project is prone to risk and an effective project manager will always think of ways to mitigate risks before they occur. Effective risk management requires the project manager to monitor and ensure that the project does not exceed scope, time or budget. A good project management tool should have the facility to help project managers protect projects against risks and changes through analysis, assessments and tracking.  Budget management: It’s very difficult to justify to stakeholders why the project budget has gone overboard. An effective tool should help a project manager create an accurate budget and help maintain it by monitoring costs and resources.  The markets are fluctuating and so are costs for resources. In such a case it is possible that a project that is very extensive will go over the estimated budget. The project manager can simplify budgeting and keep a track on costs by creating accurate trackers and reports. Adding new costs, tracking labour costs, adding extra costs such as risk mitigation costs etc aid the project manager in maintaining the project budget and ensuring that there is no overrun.  Remote working:Remote working has now become the norm, and the pandemic has made remote working a necessity rather than a convenience. Maybe a decade ago, managing projects remotely, getting resources to work together, allocating tasks etc would have seemed impossible. But project management tools available today have made remote working efficient and effective.  A good tool should allow team members who are geographically dispersed and separated by time zones to work effectively, collaboratively and without a break in communication. From helping team members access shared repositories to sharing ideas to communicating effectively, the project management software should be seamless for virtual teams.  Enhancing productivity:When your team has everything ready at its disposal and does not have to worry about anything other than the development of the project, then productivity increases and so does motivation to be productive. Efficient software can find loopholes in timelines, scope creep or budget and help you address them early on, thus helping you deliver better products on time and optimise processes. Your stakeholders in turn will be happy and so will your team members!  Effective communication:Effective communication is the single most important thing to ensure that a project, be it Scrum, Waterfall, XP or Kanban, is delivered effectively. The project management software should provide a platform where team members can communicate through chat messenger, video or voice calls. This helps disperse information at the right time and in the right format for the right impact.  To sum up... There are several project management software packages available in the market.  Organizations should choose the software which suits their projects and team members. Effective project management software will not just help you track the progress of your projects but will help create an efficient system of communication and collaboration with team members and stakeholders, monitoring performance and mitigating risks before they even occur.   
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What Is Project Management Software & What Are...

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What Is Product Development?

A company’s reputation is reflected in the brands and products it builds. All organizations strive to create products that reflect quality, sustainability and durability. A product’s lifecycle from its ideation to creation and shipping and distribution is a complex route and involves several processes, stages and teams across the company. In this blog we attempt to understand all about product planning and development and the various stages involved in it.  Product Development—what is it?Product development encompasses all the stages involved in a product’s lifecycle and includes everything from its ideation to design, development, testing, and finally shipping and delivery. Irrespective of what product is being developed, whether it’s an IT product or a manufacturing product, the product lifecycle is always the same.   How is Agile Product Development different? The agile approach to product development was born in the nineties when a group of software experts got together and created the Agile Manifesto, the bible for the agile methodology which laid down the guidelines to create processes that would help teams to use new methods for software development. The aim of agile was to put the focus back on the team, customers and quality and help organizations cope with a changing business scenario, making them more resilient to change. Agile uses the idea of iterative product development that requires the collaboration of self-organizing teams to define requirements and implement solutions. Agile product development produces high quality software—on time and within budget and which can improve on recommendations from the client.What are the needs & importance of Product Development?There are many needs for Product Development:  To bring in new products into the markets To improve existing products To increase market share, revenue and profits To scale up to competition To enhance organizational reputation by launching quality products To benefit customers by giving them new and improved products To respond to market changes by launching new products or revising existing ones. The different stages in Product DevelopmentWhile the stages in product development may be different for different organizations and products, there are a few standard steps that all products follow: Ideation: Before jumping in and building the product, the need for the product has first to be established. What is its need, and what problem is it solving? How popular will it be? These and more answers justifying the need for the product can be got from surveys, research and communication with clients and customers. Conceptualization/design planning: The need for the product has been established. The creators have identified what problem or issue needs to be solved. Now they have to devise how the product that they build will solve the issue. Some solutions may be easy to come up with while others may need more in-depth research and brainstorming. The entire team comes together and designs how the product will shape up and how it will serve customer needs.   Developing the product roadmap: The product roadmap is a plan of action that defines the short- and long-term goals of the product to be built. This is an important stage in the product development lifecycle as it outlines the product priority features that need to be delivered first and also outlines the progress of the product over time. The product management team develops the product roadmap. Developing the first version: Also called the minimal viable product, the development team creates the first version of the product that has the bare minimum functionality, but which allows the user to interact with it end to end. The MVP is further iterated and enriched based on user feedback.  Testing: Testing is a part of the development process in Agile product development. It happens in parallel with the development. Continuous testing and continuous feedback help make the product better and ensures continuous improvement.  Releasing the product: The product is released to the customer. Improving based on feedback: This is an ongoing phase where the product is continuously upgraded based on customer feedback. How to create a Product Development Plan in simple StepsProduct development includes stakeholders in order to understand their requirements and concerns while building the product. Every product development lifecycle must include a few basic steps which are important to ensure that the product delivered is of the expected quality. Create a product vision: No product can be built without an idea and a vision. The product vision and idea will define how it will be built and for whom, how it will shape up and what solutions it will provide. The product vision is created after consultations with the stakeholders. Agile is all about the customers and it is important that they are involved from the beginning till the end in the product development. The product vision is the primary stage in product development and also probably the most critical. It may be a little unclear in the early stages but through market research and analysis it soon develops into a ready reckoner for the team as it outlines the product goals and milestones that need to be delivered.  Build the product roadmap: Agile follows the principle of early and continuous delivery of valuable software. The product roadmap defines the features of the product that must be prioritised in order to deliver a minimal viable product to the customer. The roadmap helps the teams to decide the time intervals at which features need to be delivered. The roadmap is built by taking into consideration customer requirements, market trends, and effort required.  Build the product: Once the roadmap has been agreed upon, the teams decide the schedules and the project is broken down into smaller chunks, which in Scrum are called epics and sprints. Once a minimum viable product is created it is continuously iterated in order to improve it, based on feedbacks and testing.Product Development Vs Product ManagementProduct development is concerned with the actual development of the product.  It may comprise of teams that are involved with the implementation of the product such as developers, designers, testers, etc.  Product Management on the other hand is a wider umbrella and comprises of how the product goals will align to the overall organizational objectives and business goals. It includes a whole lot of processes that are all concerned with building the product, improving it and marketing it. The product management team liaises often with the stakeholders and ensures their buy-in during product development.  How Does the Product Roadmap work in Product Development?The product roadmap helps the stakeholders see the broader strategic vision by aligning the product development with the goals and business objectives of the organization. The product roadmap helps the development team by giving them the vision of the product so that they might ensure meeting deadlines and delivering milestones, while avoiding scope creep and mitigating risks. The product roadmap is a go-to document for Product Owners and managers who use it to collaborate, assign tasks, create the product backlog and define priorities.  The product roadmap is also a reference point for the organizational leadership as it helps them understand the overall scope of the project, the liabilities, risks and the advantages associated with the product.  Who Benefits from Product Development?The Organization: This refers to the organization that has created the product for an end-user. The organization that creates the product will not just have its reputation enhanced as a formidable and quality-oriented organization but will also reap the profits of having created a quality product. The organization can counter stiff competition by creating a product that re-affirms its position in the market.  The end-user: The end-user gets a product that is high in quality and solves issues that the user might have faced earlier.  The team: The development team/teams that have created the product have much to gain from product development. The experience of having worked in a high-quality project, the satisfaction of having built a great product along with the goodwill from the stakeholders all go in favour of the development team members.A Last Word Product development is a continuous process. If there are consumers there will be product development. Agile has redefined product planning and development by putting the onus back on the customer. Agile product development follows methods that reduce overheads and streamline processes, ensuring timely deliveries and customer delight.  
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What Is Product Development?

A company’s reputation is reflected in the brand... Read More

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