Developing a Product Roadmap for the Case Company

Research and development include innovating or experimenting methodologies that would improve the success factors addressing an existing or new problem. The objective of this study is to develop a product roadmap that acts as a product planning tool, incorporating key elements over a timeframe. Lack of certainty in product goals adds pitfalls in product development process. A Product Rroadmap enables the company to keep track of the development process. The roadmap provides well defined objectives, establish clear priorities and release timelines by streamlining internal tech processes and systems. The key challenge is that the existing product undergoes repeated changes based on customer requirements and feedback. The entire product is developed based on customer feedback; hence a constant review and overall view of the product is important to lead the team towards the company's vision and goals. The existing product development practice does not have a planned vision of short term and long-term goals. The proposed roadmap creation will benefit the case company in articulating a planned approach, estimating product life cycle and check developmental process based on allocated resources. The proposed roadmap creation is first of its kind implementation, offering a structured approach. The product roadmap involves key members of Marketing, Business development and technical departments to solve a practical challenge with emphasis on continuous enhancements. The product roadmap is built with focus on key elements- Market & strategy, Product perspectives and Technological perspectives. Hence, it needs corporation from members across the company. The research process lasted 8 months adapting applied action research methodology. The thesis process started with identifying business challenge and defining the objectives and outcomes. An extensive literature review and insights on best practices for developing a product roadmap gave deeper and valuable insights on the roadmapping process. The current state analysis helped in obtaining in depth knowledge on the entire product development practices. Current state analysis examined both the internal and external elements that impacts management practices and product success metrics. The data collection plan involved collection of qualitative data through internal document analysis, individual interviews, team workshops and customer survey. Based on Literature review and current state analysis, key focus areas were identified, and the initial proposal is developed. The initial proposal was then analysed and validated by the stakeholders. Suggestions and feedbacks for each of the key perspective of the roadmap were brainstormed. The team took an active participation in analysing the initial proposal and helped in drafting final proposal. The roadmap is validated and plans to implement the roadmap effectively is articulated defining roles and responsibilities of team members. Proposal implementation was discussed, and its feasibility of implementation was analysed with the stakeholders. The research gave rich knowledge on the product roadmap development with focus on key elements and road mapping process. Extensive literature review emphasised that the road mapping elements and the processes are applicable to all organisation with variations in desired outcomes respective to the organisations. The product roadmap pivoted on both the internal and external elements that impacts management practices and product success metrics. The research helped to gain insights on the product development process, and the factors that would affect the developmental procedure, focusing on the requirements of the team members involved. The research enables to adapt product management practices that manages the available resources constructively. Utilizing the roadmap fosters effective planning process that helps to achieve the milestones in line with targeted product goal. The product roadmap ensured that the short-term product goals are adhered to strict schedules thus achieving long term goals with an organised approach. It acts as tool for communicating product progress with the stakeholders, mapping it with product objectives. The roadmap best addresses the intended challenges based on the contribution of the team members and by consistent monitoring of its functioning, the roadmap offers a visualized framework for the company’s overall progress. The recommendation to the roadmap proposal involved careful transaction from existing methodologies and structuring the roadmap based on core perspectives. The implementation plan includes the roles, responsibilities for each of the key roadmap elements. It also includes the outline for initial tasks that prepares the team for the early stages of proposal implementation. Effective participation of the team members creates a concrete approach to fully utilize the roadmap proposal. Future actions are planned in a collaborative manner focusing on delivering quality product within expected timeframe