As businesses reopen from the COVID-19 pandemic, pivotal decisions are underway to survive and to thrive. Project roadmaps from barely 3 months ago are wiped clean and revised for services that mitigate for people safety, business continuity, and business agility. Now, is a seminal call for Product Managers to reinforce a value mindset to guide business decisions and to fortify stickiness with the business through key stages of the product cycle.

1. RISE OF THE VALUE
BASED PRODUCT
MANAGER
NORTH DALLAS AGILE PRODUCT
OWNERS MEETUP
JULY 8TH 2020
SAPNA ANIL
Photo by Esteban Lopez on Unsplash
Rise of the Value Based Product Manager | 1

2. Rise of the Value-Based Product Manager
Sapna Anil, Vice President, Product Development, Revenue, ClubCorp
Welcome!

3. North Dallas Agile Product Owners
Our goal is to create a community of Product Owners
that develop and improve knowledge and skills by
sharing and discussing tools, tricks, and experiences as
well as providing help and recommendations to each
other.

4. A Big “Thank You” to our Sponsors

5. ABOUT ME
Rise of the Value Based Product Manager | 5
Agile Product Management
Revenue Operations
Technology strategy and operations
M&A integration programs
Software Development
CMMM-I
Enterprise Portfolio
Technology Strategy, Roadmap
I am a value-curious technology
professional, who has constantly
asked questions about Realized
value and Prioritization by Value at
every step of my career.
My secret to sustained success in
large programs has been
establishing value realization
frameworks up front.

6. OUR GOAL TODAY
CALL FOR PRODUCT MANAGERS
Product Managers can influence critical survive and thrive decisions required in this climate. Today, we
explore context and strategies of value management to influence investment decisions, to re-energise
teams, and to re-activate stakeholder involvement in the product development process.
Bring Value back to the center of Agile Process.
INVITE PERSPECTIVES
I synthesize industry thought leaders and years of trial and experience. My perspectives are on Internal
Applications. Let’s hear from each other. Our stories are rich and real, and can forge new pathways in the
Rise of the Value Based Product Manager.
Rise of the Value Based Product Manager | 6

7. Rise of the Value Based Product Manager | 7
AGENDA
SECTION 1: WHY NOW
Session Break - 6 mins
SECTION 2: KEY CONCEPTS
Session Break - 6 mins
SECTION 3: CASE STUDY - HOOLI GOLF CO.
SECTION 4: BRINGING IT ALL TOGETHER

8. WHY NOW
The COVID-19 crisis forces a “value” mode
of decision-making to Survive and Thrive
8

9. TRANSFORMATION IS A MATTER OF URGENCY
Rise of the Value Based Product Manager | 9
Shifts in Opex Priorities
FROM Underinvesting in Tech Debt TO Accelerating Security, Safety, and remote access
FROM operational efficiencies TO shut down loss leader businesses
Companies re-emerge under two investment speeds - Survive and Thrive.
Lean and Agile operating models enable companies to retain and create markets.
Shifts in Opex/Capex Priorities
FROM White space markets TO Recovering revenue
FROM 24-36 m roadmaps TO 3-9 m roadmaps
FROM process efficiency TO customer engagement and retention
SURVIVE
THRIVE
Recommended Reading:
McKinsey - Reimagining Post COVID-19 Return

10. AGILE OPERATING MODEL MEETS THE NEED OF THE HOUR
Rise of the Value Based Product Manager | 10
“With the speed of change
expected to continue, the
need has never been greater
for an operating model that
can keep up.”
Ref: McKinsey June 25 2020 - An Operating Model for the Next Normal: Lessons From Agile Organizations in the Crisis

11. THE PROMISE OF BUSINESS VALUE IS CENTRAL TO
THE IDEA OF AGILE.
Rise of the Value Based Product Manager | 11
“Our highest priority is to satisfy
the customer through early and
continuous delivery of valuable
software.”
- First of The 12 Principles Based on the Agile Manifesto

12. YET, BUSINESS VALUE IS ELUSIVE IN VALIDATION AND
REALIZATION STAGES
Rise of the Value Based Product Manager | 12
1. Limitations of valuation metrics - NPV, ROI, IRR…
2. Financial value over Intangible value
3. Linear planning, no accountability
4. IT as a “Cost” Cost Center instead of “Value” Cost Center
5. Lost in the chain of command
…. And many more good reasons for poor practice

13. Rise of the Value Based Product Manager | 13
“The Product Owner is responsible for
maximizing the value of the product resulting
from work of the Development Team”
- The Scrum GuideTM
AGILE PRODUCT OWNERS MUST CHAMPION A BUSINESS
VALUE FOCUS TO SURVIVE AND THRIVE STRATEGIES.

14. BREAKOUT JAM!
1. Do you think you are working
on the most valuable
software?
2. How do you communicate
value to your stakeholders?
6 MINS
Rise of the Value Based Product Manager | 14Photo by Umberto on Unsplash

15. Rise of the Value Based Product Manager | 15
GROUP FEEDBACK ABOUT COMMUNICATING VALUE...

16. KEY CONCEPTS
Articulate value, pivot with changing
priorities, plan for changes in scope
16

17. FIRST, LET’S ESTABLISH TERMS USED IN THIS
SESSION...
Rise of the Value Based Product Manager | 17
1. 3.PRODUCT MANAGER VS.
PRODUCT OWNER
THREE LAYERS OF
PRIORITIZATION CYCLES
Investment Profile
Product Roadmap
Program Increment (PI) Planning
2. INTERNAL VS.
EXTERNAL FACING
PRODUCTS

18. APPLY BOTTOM-UP ASSESSMENTS OF VALIDATED
LEARNING AT EVERY PRIORITIZATION DECISION STAGE
Rise of the Value Based Product Manager | 18
PRECOVID : Linear,Top Down
Decision track
POST COVID: Bottom-up driven assessments of Value
at key prioritization / product strategy events
Top Down: Establish goals, estimate value, and prioritize work
Bottom-Up: Re-assess based on Validated Learning
3 PROGRAM INCREMENT
INVESTMENT
STRATEGY
2 PRODUCT ROADMAP`
1
1 2 PRODUCT
ROADMAP
INVESTMENT
STRATEGY
3 PROGRAM
INCREMENT

19. Align with
Company’s Goals
Measured By
Enterprise Metrics
Market Factors
Portfolio Health
Value Proposition
Product Strategy
Measured By
Outcome Metrics
YOY Comparison
Anecdotes
Customer Feedback
Hypothesis
Test Condition
Measured By
Control Metrics
Customer Feedback
Realign the
Portfolio
Stop, Start, Continue
Decisions
Accept / Reject
Hypothesis
1 2 3
SELECT METRICS THAT AID IN DECISION MAKING AND
VALIDATED LEARNING AT EACH DECISION STAGE
Rise of the Value Based Product Manager | 19
INVESTMENT STRATEGY PRODUCT ROADMAP PRODUCT INCREMENT

20. SEEK TO REPOSITION THE PRODUCT BASED ON THE
SHIFTING PRIORITIES FOR BUSINESS VALUE
Rise of the Value Based Product Manager | 20
Long-term value creation
Fewer, Bigger Goals
Preserve cash
Brand values lead on
Safety, Community,
Privacy, Corporate Social
Responsibility
Descope Strategic
Low
Hanging
Fruit
Urgent
RISK / EFFORT
VALUE
Descope
Decelerate
Accele
rate
RISK / EFFORT
VALUE
HIGHER THRESHOLD
OF VALUE
REDUCED
THRESHOLD
OF RISK
PRE COVID COVID RECOVERY POST COVID
Investment Strategy
Product Roadmap
Program Increment Plan
1
2
3

21. ALIGN THE PRODUCT ROADMAP LOOSELY ON TOTAL
BUDGET, BUT FUND STRICTLY IN PROGRESSIVE
INCREMENTS
Rise of the Value Based Product Manager | 21
Investment Strategy
Product Roadmap
Program Increment Plan
1
2
3
DISCOVERY $’s
MVP $’s and
PROGRAM
INCREMENTS
SCALE $’s and
PROGRAM
INCREMENTS
PRODUCT ROADMAP
Business Case is based loosely on total cost of program
Funds are strictly managed for each progressive increment.
“Skunk Works”
Move to Next Idea
Low Sunk Cost
PivotFurther Reading on Lean Budgets:
ScaledAgileFramework on Lean Budgets

22. BE PREPARED TO PIVOT AT ANY TIME, BY PLANNING
PROGRAM INCREMENTS IN SMALL, STOPPABLE
CHUNKS OF WORK
Program Increment
Planning organizes work in
small “stoppable” chunks.
Rise of the Value Based Product Manager | 22
Investment Strategy
Product Roadmap
Program Increment Plan
1
2
3
Ref: https://www.thoughtworks.com/insights/blog/portfolio-management-age-digital-enterprises

23. BREAKOUT JAM!
1. In what ways has your
company pivoted due to the
COVID Crisis?
2. What changes has this
inspired in your career track?
6 MINS
Rise of the Value Based Product Manager | 23
Photo by Daniel Cheung on Unsplash

24. CASE STUDY:
Value-based Approach to Growing
Revenue at HOOLI Golf and Country Club
Resorts in COVID-Recovery Phase
Note: The case study compiles personal experience, research, and anecdotes
from the Product Management professional community, aimed solely to
illustrate the concepts of value management.
24

25. MVP HYPOTHESIS:
Opportunity Pipeline to
improve lead conversion cycle
time by 20% by...
sales accountability w/
visible pipeline
field productivity w/
automation
Personalizing products w/
prospect segmentation
HOOLI COMMUNICATED VALUE TO MEET GOALS OF
EACH PRIORITIZATION CYCLE
Rise of the Value Based Product Manager | 25
31 2
PRODUCT
ROADMAP
INVESTMENT
STRATEGY
PROGRAM
INCREMENT
Company Strategy:
Build meaningful
relationships and enrich lives
World class Sales and
Marketing function
Achieve 2x growth in 4 years
Value Proposition:
Increase revenue from memberships
by 3% by…
...Engaging prospects through
personalized marketing and sales
interactions activated by...
Upgraded technology experience
Customer 360 analytics
Sales Enablement capability

26. SIDEBAR | THREE TIPS FOR CRAFTING EFFECTIVE
VALUE PROPOSITION STATEMENTS FOR YOUR
PRODUCT ROADMAP
Rise of the Value Based Product Manager | 26
Value Proposition
Increase revenue from memberships
by 3% by…
...Engaging prospects through
personalized marketing and sales
interactions activated by...
Upgraded technology experience
Customer 360 analytics
Sales Enablement capability
WHY: Ties to Hooli’s
Strategic Goals - 2x
in 4 years
WHAT: Addresses a
specific Benefit
HOW: Specific
strategies to solve
the problem, and …
WHO: Enrolls Sales,
Analytics, Marketing,
IT stakeholders
Further Reading: HubSpot - How to write
a great value proposition

27. HOOLI’S BUDGET ALLOCATIONS SHIFTED
POST-COVID...
Rise of the Value Based Product Manager | 27
Capital Improvements
for Golf Courses...
Organic Revenue
increase by ...
Margin improvements of
...
Investment Posture: Budget Allocated
to Value Streams
Revenue from New
Memberships
Revenue from Retained
Members
Revenue from Engaged,
High LTV Members
70%
20%
Post COVID-19 Investment
Posture: Smaller Overall Spend
10%
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3
Capital Improvements
for Golf Courses...
Organic Revenue
increase by ...
Margin improvements of
...
60%
30%
10%

28. ...CAUSING REPRIORITIZATION OF THE PRODUCT
ROADMAP
Rise of the Value Based Product Manager | 28
New membership Revenue Retention..
Lifetime
Value ...
Themes Initiatives Pre COVID Ranking Post COVID Ranking
Sales Efficiency CRM system for Sales 1 2
Margins Simplify Membership Products 2 STOP
Sales Efficiency Sales Training Upgrade 3 STOP
Member Experience Member 360 Analytics 4 STOP
Member Experience Personalized Digital Marketing 5 1
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3
PRODUCT ROADMAP - MVP STAGE FUNDING

29. FUNDING IN PROGRESSIVE INCREMENTS ENABLED
HOOLI TO PIVOT WITH MINIMAL SUNK COSTS
Rise of the Value Based Product Manager | 29
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3
FUNDING
ROUND 1
FUNDING
ROUND 2
FUNDING ROUND 3 -
IMPACTED BY COVID-19
FUNDING ROUND 4
PLANNED SCOPE Discovery MVP Pilot Deployment Scale Deployment
ACTUAL SCOPE Discovery MVP MVP #2 - Re-prioritize Pilot and Scale
CUMULATIVE VALUE 0% 20% of Total Recast, 20% of Total 100%
CUMULATIVE COST 5% of Total 40% of Total 60% of Total 80% of Total

30. BACKLOG OF SMALL, STOPPABLE CHUNKS OF
WORK WAS EASILY REPRIORITIZED FOR NEW
BUSINESS REALITY
Rise of the Value Based Product Manager | 30
Post COVID, the hypothesis changed as customer behaviours shifted.
Personalized Campaigns were added, and some features removed.
PI1 TO PI3
5% of Value
MVP FEATURES
PI4 to PI6
20% of Value
COVID
PAUSE
FEATURES FOR GROWTH, EXPERIENCE
PI 7 TO PI10
100% of “Recast” Value
1. Opportunity Pipeline
2. Lead Score
3. Member Referrals
4. Sales Game Plan
5. Regional Reporting
MVP
MVP
IDEA
MVP
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3
MVP
IDEA
IDEA
IDEA
IDEAIDEA
6. Personalized Campaigns
Pause
Recast
Pivot
SCALE
SCALE
DESCOPE
DESCOPE
MVP
SCALEMVP

31. BRINGING IT ALL
TOGETHER
Key Takeaways for the Value-Based
Product Manager
31

32. TAKEAWAYS FOR THE VALUE BASED PRODUCT
MANAGER
1. Invite your stakeholders to participate in messaging your products’ value
proposition in terms of your company’s new, post-COVID direction
2. Manage your budget in quarterly milestones. Work with your business and
sponsors to reprioritize the roadmap as needed
3. Plan work in stoppable chunks; Make scope pivots low-cost, low-risk.
4. Ensure your product team understands the Hypothesis and outcome being
validated in your product increment
5. Continuously communicate outcomes through: Anecdotes, Customer Value,
Enterprise Value, or Outcome Metrics
Rise of the Value Based Product Manager | 32

33. Rise of the Value Based Product Manager | 33
RELATED
READING
BOOKS
RECOMMENDED
PODCASTS
The Product,
Product School

34. Rise of the Value Based Product Manager | 34
RELATED
ARTICLES
Epics Reads
1. Good Product Manager / Bad Product Manager- Ben Horowitz, A16Z
2. How to Define Your Product Strategy - Gibson Biddle (ex) Chief Product Owner,
Netflix. See also, Part #4 in this series: Proxy Metrics - How to define a metric to
prove or disprove your hypothesis and measure progress
Related Reads
3. Ruthless Prioritization - Brandon Chu, VP Product at Shopify
4. How to Define a Product Strategy: The Value-Based Approach - Luke Gallimore
Personal Blogs
5. The Case for Value Management
6. Principles of Value Management
SAFe Reads -
7. Program Increment (Small Stoppable Chunks of Work)
8. Lean Budgets (Concept of Horizon-based Funding (McKinsey Model) and Innovation
Accounting (Lean Startup)
Feel free to browse my collection of blogs and articles under my Notion page.

35. HERE TO HELP…
SAPNA ANIL
LinkedIn: www.linkedin.com/in/sapnaanil
Email: sapnaLanil@gmail.com
Photo by James Pond on Unsplash Rise of the Value Based Product Manager | 35
FEEDBACK PLEASE?
Link: https://www.surveymonkey.com/r/X85Z22J

36. APPENDIX -
SLIDE GARAGE
36

37. INVESTMENT STRATEGY
Rise of the Value Based Product Manager | 37
31 2
1 Executed As: Strategic Initiatives
Prioritized By: weighted proportion
of Company’s Goals by Functional
Domain / Value Stream
Validated By: Quarterly financial
performance and updates to
Strategic Initiatives
Product Managers’ Influence:
Low, but must have visibility
Promise of Value: North Star, Company vision,
Corporate Goals and Objectives
PRODUCT
ROADMAP
INVESTMENT
STRATEGY
PROGRAM
INCREMENT

38. VALUE LOOP FOR THE PRODUCT ROADMAP
Rise of the Value Based Product Manager | 38
31 2
Executed As: Epics or Program
Initiatives
Prioritized By: Assumptions and Test
Hypothesis
Validated By: Impact / Outcome
Metrics, Anecdotal, CSAT Surveys
Actioned By: Revising Business
Case and environmental factors
Product Managers’ Influence: High,
Builds coalition of accountable
stakeholders.
2
Promise of Value: Business Case of hypotheses
and assumptions for the program; Value Proposition
for long-term customer or domain capability
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3

39. VALUE LOOP IN PROGRAM INCREMENT PLANNING
Rise of the Value Based Product Manager | 39
31 2
Executed As: User Stories within 3 or
4 Sprints
Validated By: Impact / Outcome
Metrics
Actioned By: Validated Learning,
Confirm Assumptions; Accept or
Reject Hypothesis
Product Managers’ Influence: High,
with strong alignment from the
Product team
3
Promise of Value: Hypothesis of discrete
incremental business value; PI Objectives
Investment Posture
Product Roadmap
Program Increment Plan
1
2
3