5 Best Product Management Frameworks (for PMs and Entrepreneurs)

Introduction to Product Management Frameworks: Experienced product managers apply appropriate frameworks to address specific business and product challenges. The video explores powerful and commonly used frameworks in product management used by today's product managers. Ada Marketing Framework: Ada is a marketing framework focusing on the stages of Awareness, Interest, Desire, and Action. It guides marketers in progressing from making customers aware of a product to ultimately driving user actions, such as purchases or sign-ups. RICE Framework for Product Development: RICE is a popular product development framework used to prioritize features or projects. It evaluates initiatives based on Reach, Impact, Confidence, and Effort, helping teams make informed decisions on what to work on. RACY Project Management Framework: RACY is a project management framework suitable for large organizations to clarify roles and responsibilities. It defines individuals as Responsible, Accountable, Consulted, or Informed, providing clarity and preventing unnecessary bureaucracy in product development. SMART Goal-Setting Methodology: SMART is a goal-setting methodology emphasizing Specific, Measurable, Achievable, Relevant, and Time-Bound goals. It ensures that goals are well-defined, measurable, realistic, aligned with business objectives, and have a clear time frame for completion. SWOT Analysis for Strategic Decision-Making: SWAT is a strategic analysis framework focusing on a company's Strengths, Weaknesses, Opportunities, and Threats. It helps evaluate both internal and external factors, providing a foundation for strategic discussions and business planning.