Managing Tradeoffs in Product Development

Product managers are responsible for driving decisions when the need for tradeoffs arises in the product development process. Internal events (e.g., the discovery of an incorrect estimate in a development effort) and external developments (e.g., a new product from a competitor) can trigger a change in priorities. Use a five-step process to identify, assess, and gain alignment on tradeoff options. We provide a framework that product managers can use to evaluate tradeoffs and make quick, well-informed decisions during the product development process.