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1. Product A is the main driver of both revenue and profit for your company; it has very happy customers (high Current Value) and low Unrealized Value. Product B is relatively new; it has low Current Value and high Unrealized Value.
Both Product Owners of the two products are requesting significant additional funding to improve their products. What do you do?
(choose the best answer)
Response:
A) Split funding equally between both products.
B) Split funding proportionally based on product revenues.
C) Invest funding in Product A, because your company's success depends on its continued success.
D) Invest funding in Product B, because it has more future potential for the company.
2. Which of the following strategies might help in improving your team's Time to Market?
Response:
A) Eliminate the need to wait for experts by improving the cross-functional skills of the team members.
B) Ensure everyone on the team has no scheduling issues in order to maximize their utilization.
C) Increase the amount of time spent per day working on a product by planning offshore work to "Follow the Clock".
D) Increase the velocity of your team by adding developers.
3. You want to know the potential value that your product could, but does not yet, deliver. Which of the following is the most helpful?
(choose the best answer)
Response:
A) All of the above.
B) Competitor research and their market shares.
C) Interviewing users who tried your product but did not buy.
D) Asking your customers what they like about the product.
E) Testimonials about why your customers choose your product.
F) None of the above.
4. You have many customers on older releases who express frustration that they cannot adopt your latest releases as fast as you release them. At the same time, you are in a competitive market and you feel that you need to stay ahead of competitors.
With every new release, you are spread more thin because you also have to fix defects and make enhancements to older releases. What should you do in response?
(choose the best answer)
Response:
A) Add customer support staff to help customers with their upgrade challenges.
B) Pause developing new features to make upgrading easier and less risky.
C) Slow down the release cycles so customers have more time to catch-up.
5. What is required when applying an empirical approach?
Response:
A) All of the above.
B) Stakeholder approval in order to maximize the chances of success.
C) A hypothesis on how a product or service can improve the customers, or users, experience.
D) Detailed functional requirements in order to minimize the risk of failure.
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: C |
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