Product management is the sole responsibility of a PM; they will create a product. The primary document used by a PM when creating a product is the Product Requirement Document (PRD).
Describe PRD. A PRD is a document that outlines the goals, benefits, and features of the feature or product that is currently being created. In order to comprehend what a product ought to accomplish, PRD is developed from the perspective of the user. The product team will utilise the PRD to explain what to develop, who the product is for (the target users), and how users will benefit from the product once it is executed.
There are a number of elements of PRD, including:
1. Goal of Production:What was intended to be accomplished and why the product or feature was made.
2. New Features: Detailed descriptions or examples for each feature’s explanation (User Journey, User Story, User Acceptance Criteria, User Interface).
3. User Experience (UX) Flow: Outlines the general design’s workflow.
4. System and Environment Requirements: The software can function on the iOS or Android operating systems, for instance.
5. Assumptions, Limitations, and Dependencies: For instance, a developed product or feature may support everyone’s activities or only those of a select group of people.
The PRD format is listed below:
1. Specifications: Contains the participants, such as the creators of the product, the developers, and others. then the document’s version.
2. Aims: You can ask the following three questions to obtain informative objectives, namely:
- Which issues does this product address?
- Who is going to use this product?
- Why Why is it crucial?
3. Context and Strategic Fit: What motivates your desire to create the product? How are efforts being made to accomplish the desired goals? Customer research can also be added at this time, such as the findings of surveys or user interviews.
4. Describe the Features: Begin by deciding which features should be included in the user story. A mockup design is provided to make things clearer and give the viewer an idea so that each step is well described.
5. Timeline: Describes the anticipated duration of each task.
6. Success Metrics: How is the product’s or feature’s success rate determined? It may come from factors like user volume, peak hours, and others.