![]() ![]() Risk (including the potential for your new initiative to be supplanted soon by newer technology or processes).Customer training, migration effort, and handling potential questions or complaints.Time on the schedule (days, weeks, months).You can divide your complexity/effort scoring into several subcategories, such as: But you can also choose to dig much deeper than this. In some cases, this single metric might be sufficient. One shorthand many product teams use is simply to estimate an initiative’s overall cost to the business and let that cost serve as a proxy for the complexity or effort required to implement it. ![]() What exactly does complexity mean in the value vs. Determine a “complexity” score for each initiative This is fine, as long as you apply your formula consistently across all initiatives you are evaluating. ![]() You might, for example, decide that the bottom-line contribution that implementing an initiative could make to your business deserves more weight than its potential impact on your user’s experience. You might choose to weigh either of these subcategories more strongly than the other. The numerical score should represent the initiative’s overall estimated business value. Once you have reached a score for each of your value subcategories, you can combine them into a single numerical score. Will it enhance your company’s brand awareness in the market? Does the initiative affect enough customers to make it worth the effort? (Some initiatives might impact only a small subset of your user base and prospects, and might, therefore, have a relatively low business value.) When assessing the business value of an initiative, you might want to consider multiple factors. This value might be reflected in terms of acquiring new customers, retaining existing customers, the ability to upsell customers, and the anticipated new revenue the initiative will bring.
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