My Experience of leading a Product Development Project
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I am Director of Operations and Digital at School Business Services, a company which provides education-specific professional services, including Finance, MIS, and ICT. We also provide Financial Planning Software – previously SBS Budgets, now SBS Financial Planner.
I currently have the privilege of leading on the product redevelopment of our Financial Planning Software. There have been numerous ups and a few downs. A while back I started keeping a log of instances to refer to when times got tough, a reference point and reassurance that as a team we can and will overcome the challenges that we face.
As we have now launched the product, I thought I would compile my experiences into a brief article to share, in case other people embarking on a product development journey could reference and take even a little something from it.
Team Alignment and Vision Setting:
I was fortunate that I inherited a talented development team; they just required direction, organisation and crucially a proper understanding of what we were going to build and why. It was their job to tell me how. I used the first few weeks to build up a real team morale and mutual respect. I wanted to foster an environment which was honest, open, and a safe space. I started by sharing that I am in no way technical and would be relying on each of them, but that I possessed a financial analysis skillset and background, highly organised, fiercely loyal, and able to make decisions.
It was clear that the developers had little to no knowledge of finance in education, therefore my first task was to work with the team’s SME (Subject Matter Expert) to produce an Executive Summary Document. This set the scene for what we were going to build and why it was needed. It offered high level and relevant information relating to the industry they were now operating in.
Strategic Planning:
With the vision in place, strategic planning became paramount. Now the team had a better idea of what was required, we could collaborate to define delivery dates and milestones. These were logged and loaded into our project management software.
To kick things off, our SME got started on detailed specification writing whilst the development team identified the most suitable system architecture.
We settled on a consistent themed and formatted specification template and process which ensured each document was signed off by me and saved to a central repository.
My Three Development Pillars:
I recently posted about this on LinkedIn: https://www.linkedin.com/feed/update/urn:li:activity:7163499887471362049/
I kept in mind three core considerations when managing this product, all of which are interdependent, and I deem equally important. These are:
- Look and feel – supplying a great interface and user experience
- Fully functional – delivers all the functionality required of your customer base
- Performance – consistent and reliable
A great-looking product without the functionality will not last. Even with the functionality, if it constantly runs slowly and ‘falls over’ it will not last. Likewise, a great performing product which looks great will not last if it fails to provide the customer with what they need from it.
‘What’ not ‘How’:
During the spec writing process, we had to continually remind ourselves that the focus on the documents was to inform the development team of WHAT was needed. It was easy at times to fall into the trap of telling them HOW.
Remember who holds the expertise in your teams and harness it. Promote respectful challenge and give each team member the opportunity to express their thoughts and opinions.
Customer-Centricity:
At the heart of every successful product lies a deep understanding of customer needs and preferences. Customer feedback serves as a compass, guiding product development efforts, ensuring that we remain aligned with market demands. We created a CFO Focus group where we invited existing customers and industry professionals to join us in monthly meetings to offer their thoughts and feedback. I asked of them only two things before they committed:
That they could spare an hour per month
That they would be completely open and honest in their feedback
During the sessions we sought clarification over functional requirements and reviewed recent developments. Recently we even used the sessions to seek feedback on how we market and launch the product.
Risk Management & Learning from Mistakes:
No product development journey is devoid of risks, from technical challenges to market uncertainties to budgetary pressures. Each will have an impact on delivery and ultimately the success of the project.
Navigating risks requires foresight and resilience. During this project I identified relatively early on that the timescales we had set were going to be challenging and ultimately unachievable. I immediately raised this to the monthly project board and stakeholders. Before doing so, I was well prepared. I had revised delivery timescales ready (from the development team plus a bit more added on by me) and the potential financial impact of the delay. This was not a comfortable situation but by delaying it would have only made things more difficult and brought further stress on the team which would impact productivity. Furthermore, the business was now able to make necessary changes to other plans well in advance, such as marketing and launch campaigns.
Test, Test and Test again:
It is impossible to over-test anything. During this development cycle we identified a member of the Support team with a keen eye on detail and put him on a qualification course for software testing. Since then, he has not only led by example during testing, but documented procedures and test scripts.
When testing, be ready for the mundane, be prepared to repeat processes over and over again. Furthermore, test not only functionality, but ‘load’ to ensure your software can cope with volume and growth.
Continuous Improvement:
Product development is an iterative process and the journey doesn't end with the launch of a product. Continuous improvement is essential, driven by a commitment to innovation and excellence. Through post-launch analysis, user feedback and market insights, we will continue to strive to refine and enhance the product iteratively, staying ahead of the competition and delighting our customers.
In Summary:
Managing product development is a multifaceted process that demands a blend of creativity, strategy, adaptability and resilience.
As I reflect on my journey to date, we have succeeded by fostering a collaborative culture, embracing challenge and prioritising customer-centricity. However, I am mindful that this has no end destination but is a perpetual journey.
