What and Why:

Product roadmap is a vision document for product/IP solution and gives direction for planning the product development activities. The key inputs for preparing roadmap include product strategy, technology trends, partner roadmaps, competition analysis etc.

In practice it is recommended to prepare two versions of roadmap. One intended for external audience, the other intended for internal audience. The external roadmap is used to communicate with Customers/Clients, Partners, Analysts etc about high level vision for the product / the IP solution. It contains broad features, platforms, technologies at a very high level. This helps in refining the product strategy and roadmap through potential inputs/feedback. In addition it can also be used to develop a kind confidence with the clients/customers about our long term commitment towards IP solution.

Internal roadmap is used to define the scope for specific product planning. It includes defining direction for release planning, budget planning and resource planning activities. It contains mainly major releases with associated features, timelines, target markets, and themes.

Who, How and Best Practices:

Product strategist/head shall be responsible for preparation of Product/ IP solution roadmap.

Based on the information derived from market requirements, market analysis, competition analysis, and product strategy, partner roadmaps, product strategist shall decide and prioritize the features/capabilities for the solution to be developed in the future. The typical future duration to be captured in a roadmap depends on the industry. It can vary from 18 months to 36 months. In some industries it can be even shorter or longer.

Right Roadmap is important to gain and retain Customer confidence as it can help them to address the uncertain future and helps being “Future Proof”. Different sources of information for market study are – market research reports, company web sites, related industry or technology forums, blogs etc. Seeking some kind of validation/inputs on our understanding of future needs from existing/active and friendly customers is the best source of inputs for deciding the roadmap.

Notes:

• It is not recommended to make Roadmap available publicly. It can only help your competition. Discuss the Roadmap mostly during Customer meetings.
• It must be noted that this document usually contains strategic information, so it shall only be shared under an NDA and with Clients that really are interested in the product, not with every kind of prospects met in an event for instance. There is always a possibility that competition might get hold of this external roadmap, so careful attention must be paid to what we choose to disclose.
• Sometimes Customers can demand for commitments on roadmap, it is recommended NOT to make such commitments on tomorrow’s investments for today’s revenues. If situation really arises, then please first perform financial and risk analysis; and then only decide.
• For any significant investments required to implement Roadmap, it is recommended to always to do that with a customer, where some part of this investment is covered upfront.
• Product strategist can also obtain guidance and support from Central IP team in the product roadmap definition process for the solutions in Ready2Series portfolio.

References:

• Check list (TBD)