Product Management Archives - ProjectManager

6 Free Requirement Gathering Templates for Excel and Word

Camilo Tristancho — Mon, 09 Mar 2026 15:05:27 +0000

Clear project outcomes rarely happen by accident. Teams must capture stakeholder expectations early, organize them into structured documentation and align everyone around what the project should deliver. That’s where requirement gathering templates become valuable. They help project managers collect, structure and track requirements so planning decisions, deliverables and project timelines stay aligned from start to finish.

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1. Project Requirements Template

As projects move from idea to execution, teams must clearly document what the project must deliver and how success will be evaluated. Project requirements define the capabilities, functions and conditions that guide project scope and delivery. These requirements translate stakeholder expectations into structured documentation that informs planning, prioritization and validation throughout the project lifecycle.

This project requirements template organizes requirement gathering templates into detailed sections that guide teams through documenting all critical requirement categories. It begins with general project information and business requirements before capturing stakeholder expectations, functional and non-functional requirements and technical specifications. Additional sections address regulatory obligations, transition planning and user requirements so teams can define, track and validate deliverables throughout the project timeline.

2. Requirements Gathering Template

Stakeholders rarely describe their needs in the form of structured project documentation. Conversations, emails and meetings usually contain fragments of expectations that must be organized before planning begins. Requirement gathering converts those scattered inputs into clearly documented requirements that define project scope, system behaviors, constraints and deliverables so teams can plan work and avoid misunderstandings later.

This requirement gathering template provides a structured framework for documenting stakeholder requirements, project scope and technical expectations in a single place. It begins with project identification details and version history, then organizes information across sections for project planning, stakeholder scenarios, constraints, assumptions and dependencies. The template also captures user, functional and system requirements, workflow activities, risk management considerations, testing procedures and final stakeholder approvals.

3. Business Requirements Document Template

Organizations rarely launch projects without first clarifying what the business expects to gain. Business requirements describe the high-level outcomes, capabilities and objectives a project must achieve to support organizational strategy. They translate business objectives and strategic goals into clear targets that guide project scope, priorities and deliverables while aligning stakeholders around measurable project goals and expected benefits.

This business requirements document template organizes requirement gathering templates into practical sections teams can complete during early project planning. It starts with company and project information before guiding users through executive summaries, business objectives and a needs statement. From there, the template documents project scope, prioritized requirements, stakeholders, project timeline, cost-benefit analysis and key project constraints influencing delivery.

4. Product Requirements Document Template

Product development teams must clearly define what the product should do, how it should function and what experience it must deliver to users. Product requirements describe the features, capabilities and performance expectations that guide product development. These requirements translate customer needs and business objectives into specific product functionality, user stories and measurable success criteria.

This product requirements document template helps organize requirement gathering templates into a structured outline teams can complete during product planning. It starts with project information and product goals before documenting assumptions, constraints and strategic context. The template then defines scope through user stories and requirements, lists product features, establishes release criteria and identifies measurable success metrics to evaluate product performance.

5. Requirements Traceability Matrix Template

A requirements traceability matrix is a structured document used to link requirements to business objectives, deliverables and test cases. It ensures every requirement identified during requirement gathering templates is tracked from definition through implementation and validation.

This requirements traceability matrix template helps teams track requirement gathering templates by organizing each requirement into a structured table. The template records requirement IDs, specifications and the business goals they support while identifying who requested them and which department owns them. Additional columns link requirements to WBS, deliverables, test cases and status updates so teams can monitor progress and confirm completion.

6. User Story Template

Agile product teams rely on user stories to describe features from the perspective of the person who will use them. A user story expresses a specific need, the desired capability and the value it delivers to the user. These short statements guide product backlog refinement, sprint planning and development priorities while keeping product decisions centered on real user outcomes.

This user story template helps teams document requirement gathering templates for product features by guiding a story from initial concept through release validation. It begins with story overview details and a user story statement before capturing user context, problem rationale and scope boundaries. The template then records functional requirements, business rules, integrations, acceptance criteria, testing notes and release planning activities.

ProjectManager Is an Award-Winning Project Management Software

ProjectManager offers robust project management features such as Gantt charts, task lists, workload management charts, timesheets and real-time dashboards and reports. In addition to that, it’s also equipped with AI project insights, online team collaboration features and unlimited file storage that further help project managers ensure nothing falls through the cracks. Watch the video to learn more!

18 Free Stakeholder Management Templates for Excel & Word

Brenna Schwartz — Tue, 09 Dec 2025 20:00:04 +0000

Stakeholders are anyone who has a vested interest in the project. They can be internal, such as project managers, teams, owners or investors, or external, such as clients, customers or suppliers. There can be a lot of stakeholders in any project and managing them requires stakeholder management templates.

ProjectManager is project management software that helps you manage projects and stakeholders. If you’re not ready for a free trial of the software, we also offer dozens of free project management templates for Excel and Word that can help with every phase of your project. Here are some free stakeholder management templates.

1. Stakeholder Analysis Template

There may be many stakeholders in any project, but your job as a project manager is to identify them. Each stakeholder can have a different interest or those interests can evolve over the course of the project. Using our free stakeholder analysis template for Excel helps you devise an effective stakeholder communication plan to keep them properly informed.

There are fields to capture basic stakeholder information, including their title, contact information and influence or power over the project. Then you can place each stakeholder as they stand in relation to the project, noting their priority, if they have subject matter expertise and whether they’re decision-makers. Then you can assess each stakeholder’s commitment to the project and better manage them.

2. Project Status Report Template

Stakeholders need to stay informed throughout the project. Depending on the stakeholder, however, that level of information and the frequency in which they’re updated can change. Whether they need details or just an overview, project managers still must report regularly. Using our free project status report template for Excel is a great tool to capture a period of time in the project.

The trouble with a static template is that it has to be manually updated and the information can’t be customized to reflect each stakeholder’s concerns.

Take Stakeholder Management Online With ProjectManager

Unlike static tools, ProjectManager is an online software that delivers real-time data. Reports can be filtered to show only the information relevant to each stakeholder.

Generate reports on status, variance and more in a keystroke
Share reports in a variety of customizable formats
Free guest licenses for stakeholders offer real-time insights via dashboards and schedules. Try it free

ProjectManager has reporting tools that can be customized and easily shared. Learn more

3. Stakeholder Map Template

If you’re looking for a visual tool that can help you identify and chart your stakeholders, then you need to download our free stakeholder map template for Excel. You can use the stakeholder map to inform your decision-making when dealing with stakeholders. It’s essential to establishing a viable stakeholder communication plan.

The stakeholder map template helps you to determine who wants to know what, when they need to know it and how they prefer to get their updates.

This stakeholder map has four categories for managing your stakeholders: manage closely, keep satisfied, keep informed and monitor. Place each stakeholder you identify in the correct box and use color coding to show if they’re supportive, neutral or critical to the project.

4. Stakeholder Register Template

A stakeholder register is an easy and streamlined way to lay out the information to better understand each stakeholder, their influence and the best way to manage them. Download this free stakeholder register template for Excel to help outline stakeholders and how they may impact the project.

Ideally, use this template during the project’s planning stage to identify stakeholders as early as possible. However, it can also help form and develop the project team to ensure the right people are selected. It’s also useful to use to define success criteria, helping project managers align objectives with stakeholder expectations.

5. Stakeholder Engagement Plan Template

A stakeholder engagement plan outlines who your project’s stakeholders are, what their interests and influence look like, how and when you’ll communicate with them and what level of engagement each group needs. This stakeholder engagement plan template for Excel gives you a clear, organized structure for identifying stakeholders, mapping their influence and expectations, setting communication methods and planning engagement activities.

Instead of starting from a blank page, the template speeds up the process, improves consistency, reduces the chance of overlooking key stakeholders and makes it easier to share the plan with your team. It ultimately helps you manage relationships proactively and avoid misunderstandings or resistance that could derail the project.

6. Business Case Template

Since stakeholders have a vested interest in the project, one of the things they’re most concerned about is the costs related to executing the project. They want to know if the investment costs are worth it. You can show them this with our free business case template for Word, which summarizes project objectives, costs and benefits.

The business case is important due diligence for stakeholders by proving that their investment in the project is beneficial. They can read an executive summary, the mission statement for the project and the final deliverable that’ll be produced. There’s a place to show the project objectives and how they’ll be achieved, the financial appraisal and market assessment plus more. It’ll help get buy-in from stakeholders.

7. Cost-Benefit Analysis Template

Another free template that can help prove to stakeholders that the project is worth their investment is our free cost-benefit analysis template for Excel. It helps you look at the numbers and determine if the money you’re putting into the project is worth the deliverables.

A cost-benefit analysis template does this by adding a dollar amount to the project’s costs and benefits. By subtracting the benefits from the costs you can see what the profit if any, is for the project. This can be financial gains, but it can also determine if the business objectives and goals are worth the costs. This information can help get stakeholders on board with the project.

8. RACI Matrix

It’s clearly important to identify and define the roles and responsibilities of your project team, but often project managers will neglect the same exercise when dealing with project stakeholders. After that, your project team is just one of likely many stakeholders in the project. Using our free RACI matrix template for Excel allows you to categorize everyone involved in the project, including stakeholders.

RACI stands for responsible, accountable, consulted and informed. On our free template, you list all the stakeholders (or the entire project team) on the left side, while atop the chart is their title. In the corresponding box, you note if they’re responsible, accountable, consulted or informed. Now you have a document to guide everyone on the team, including stakeholders, who have different levels of involvement and impact on the project.

9. Skills Matrix Template

Another free stakeholder management template is the skills matrix template for Excel. Stakeholders want to ensure the project team has the needed skills to deliver the intended outcomes on time, on budget and to the required quality standards. This free template can help you do just that.

This template captures relevant details like department and job roles to highlight areas of expertise and areas where critical skills are missing. Use it to ensure the right people are assigned to the right tasks, balance workloads and avoid bottlenecks.

10. Requirements Gathering Template

Stakeholders want to know the problems being solved by the project, how it plans to achieve its objective, what condition or capacity must be met and more. That’s all addressed in our free requirements gathering template for Word. This is a key document for stakeholders and captures vital information about the project in one place.

There’s a lot covered in the free template. It lists the project requirements, from user, functional and system to software, interface, workflow, change and risks. This is more of a high-level view, which is appropriate for most stakeholders and avoids getting into the weeds. There’s even a section for everyone to sign off on the document to ensure they’re informed and in agreement.

11. Project Update Template

Stakeholders always want to know what’s going on, and this project update template for Excel helps record and communicate the project’s current status. It captures key details such as what’s been completed, what work is coming next, any risks or issues, and any support or decisions needed from stakeholders.

By using a consistent format for each reporting period, it becomes easier to communicate progress without recreating a report from scratch. It increases transparency by clearly documenting accomplishments, upcoming tasks and obstacles, which helps identify bottlenecks early and supports better decision-making.

12. Executive Project Status Report Template

An executive project status report is a high-level summary of a project’s progress designed specifically for senior leaders and stakeholders. This executive project status report template is designed to give executives a clear, concise snapshot of whether the project is on track, what’s changing and where their attention is needed without overwhelming them with day-to-day details. It helps leadership stay informed, removes surprises, and ensures the project continues to align with strategic goals.

Unlike detailed team reports, it focuses only on the information executives need to make decisions: overall project health, major milestones achieved, upcoming deadlines, risks and issues, budget status, key KPIs and any decisions or support required.

13. Team Charter Template

Team members are stakeholders, though not the only ones in a project. The free team charter template for Word is mostly focused on them, but it’s another essential stakeholder management template. It explains how the team fits into the larger context of the project, such as the project stakeholders.

Besides that, the free charter lists everyone involved in the project and provides contact information. There’s a section to outline the background of the project, its mission and objective, budget and resources and the decision-making process used by the team. There’s information on scope, performance assessments, activities and milestones and much more. It’s a great tool to communicate and get everyone on board with the project.

14. Project Request Form

A project request form template helps propose a new project, capture its purpose, outline expected outcomes and provide the details that leadership needs to evaluate if the project should move forward. The form serves as the starting point for project intake and approval.

For stakeholders, a project request is highly beneficial because it brings structure and clarity to the decision-making process. It ensures all proposals are evaluated consistently, reduces misunderstandings about what a project entails and helps stakeholders prioritize initiatives.

15. Communication Plan Template

Speaking of communication, you need a communication plan to get information to your project team. Using our free communication plan template for Word will help you define objectives and schedule communication updates with stakeholders. It’s one of the more important stakeholder management templates in that a well-informed stakeholder is easier to manage and less likely to interfere in the project.

Besides objectives, the communication plan template helps you define how you’ll achieve those objectives, in what timeframe and with what metrics to measure your success. You’ll figure out the staffing and tools associated with disseminating information as well as reviewing its effectiveness. Once you have a plan, it’s apt to change in order to remain relevant and effective.

16. Project Requirements Template

Project requirements include the key needs, specifications and expectations before the work begins. This free project requirements template brings all project needs and expectations into one clear, organized place. Instead of guessing or relying on memories, everyone can see what features, constraints, and criteria are expected from the start.

That means fewer surprises, better communication and confidence that what gets delivered matches what was promised, making it easier for the whole team to stay aligned and focused.

17. Organizational Chart Template

While it might not seem like a key stakeholder management template, knowing the organizational makeup of a company or project is how everyone in the organization or project team knows to whom they report. Use our free organizational chart template for Excel. It’s a flowchart that shows the hierarchical internal structure of an organization or project.

This document is an easy-to-digest visual of the chain of command. While smaller organizations, such as startups, or projects might not need the tool, the larger and more complex the organization or project is, the more essential this stakeholder management template becomes. Everyone must know who they report to and who has authority, which is exactly what this template illustrates.

18. Transition Plan Template

Stakeholders will want to know that any transitions will be handled smoothly. A transition plan is a set of steps, goals and timelines to better prepare for change. This document offers a structure and framework to create a unique plan to help teams identify and address potential risks and uncertainties during a transition. This free transition template for Excel saves time and streamlines the process.

Transitions can be stressful, but having a template makes the process easier. It’s especially useful to use when the project is shifting from one phase to another or when there’s a change in someone’s role or project. For example, leverage it when a team member is leaving a role to help inform what duties will change and who to inform.

ProjectManager Helps With Stakeholder Management

Once you’ve downloaded and used our free stakeholder management templates, you’ll quickly find that they can take you only so far. Templates, after all, must be manually inputted and updated; they’re not collaborative and are isolated from the rest of your project management tools. ProjectManager is project management software that helps you plan, manage and track your stakeholder management in real time.

Share Project Plans With Stakeholders

Projects need plans, but plans don’t work without your stakeholders. Creating a schedule on our robust Gantt charts allows you to manage the stakeholders on your project team, organize their tasks, link dependencies to avoid costly delays and assign them to work that you can track in real time. The project plan can be easily shared with the project team and stakeholders to keep everyone on the same page.

Monitor Progress and Performance in Real Time

Once you set a baseline on the Gantt, you can track your planned effort against your actual effort. Not only does this help you keep to your schedule and budget, but stakeholders want to be updated on that valuable data as well. The real-time dashboard requires no setup, as with lightweight tools, and tracks everything from workload to cost and time in easy-to-read graphs and charts. It’s a great way to get a high-level view of the project whenever you want.

Project managers can use resource management features to keep their teams productive. Availability can be set in advance to make scheduling simpler and our color-coded workload chart helps you see your team’s allocation. You can then balance their workload from the chart to keep them working at capacity. They’re not overallocated and stakeholders are happy to see productivity.

20 Free Product Management Templates for Excel, Word and More

Brenna Schwartz — Tue, 09 Dec 2025 19:00:14 +0000

Product management is a way to organize the development, positioning and pricing of your product. It helps you manage every step of the process that sees your product go from concept to market.

As you might imagine, having project management software helps plan, manage and track this work, but if you’re not using such tools, there are product management templates that can help you steer the course.

ProjectManager is award-winning project management software, but we understand that not everyone is ready to upgrade right away. For those of you managing product development projects, here are some of the product management templates we offer for free download on our site.

1. Product Requirements Document Template

For your product to achieve its objectives and meet the quality expectations of your end-users, many requirements must be met. A product requirements document (PRD) lists the features you’ll include in your product release. Our free product requirements document template for Word should be part of any product development to communicate to the product team what’s required when building the product.

You’ll find everything you need for your product to reach a successful conclusion and it’ll guide the development team throughout the release process. Some of the fields in our customizable template include the objects and goals, which help define what you’re building, assumptions and constraints, the problem or niche you’re targeting and how your organization is a good strategic fit for the project. There’s also room for user stories and, of course, requirements, features, release criteria, success metrics and more.

2. Product Roadmap Template

A product roadmap is an essential tool in product management. It shares the product plan with the team by showing all phases on one page. This includes the vision of the project, its direction, priorities and even the progress over time. All of this can be mapped out on our free product roadmap template for Excel. It helps with strategic decision-making and communicating the product development to the entire team.

Using the product management template is easy. It’s divided into two parts. On the left side is a simple spreadsheet where you can list all the tasks in your product development. You can add the states when those tasks will start and end as well as their duration. The right side is the visual timeline of your product roadmap. Once you’ve added to the spreadsheet, the roadmap timeline automatically populates so you can see the entire project in one place with color-coded phases to make it easier to read.

3. Agile Sprint Plan Template

The roadmap is an overview, but it’s not a tool that’ll be used by your development team. They need different tools to plan and execute the various sprints that will take the project from start to finish. Agile and cross-functional teams prefer the visual workflow of kanban boards and they can use our free agile sprint plan template to get their work done collaboratively.

Many of our product management templates can be downloaded as Excel or Word files or opened in our software for a more dynamic experience. The free agile sprint plan template opens in ProjectManager and collects the backlog from the product owner. The development team plans their sprints together with the product owner, who can update items on the product backlog when necessary.

Best of all, you can use the kanban board for agile teams, but others can switch to one of our multiple project views. Developers can use task lists and more traditional departments can track progress on Gantt charts. All views update at the same time with real-time data. Get started with ProjectManager today for free.

4. Product Backlog Template

A product backlog is a prioritized list of everything that needs to be done to build or maintain a product — features, improvements, bug‑fixes, and other work items. This product backlog template for Excel acts as a “to‑do list” for the project team and helps ensure work is aligned with business value and user needs. By keeping all tasks in one backlog ordered by priority, teams stay focused on what matters most, avoid losing track of ideas or requests, and adapt quickly as requirements change.

Using the template, you can log each backlog item with details such as description, type (feature, bug, improvement, etc.), priority, status, estimated effort and assignee. It organizes everything in a single, structured sheet, making it easier to review, update and reorder items as priorities shift. This clarity ensures your team always knows what’s next, helps avoid overlooked tasks and supports efficient planning, whether you use agile methods (like sprints) or a more flexible workflow.

5. Marketing Plan Template

Getting your product developed is part of a larger initiative of getting it to the market and in front of your target audience. This involves marketing and promotion. That’s a project for its own sake and one that involves cross-functional teams to succeed. That’s why you need to use our free marketing plan template for Word to properly go through all the phases, activities and scheduling necessary for your campaign.

Of the product management templates, this one is designed to help you plan for the marketing and advertising goals you have over a specific period. To do that, there’s a place to schedule tasks on a timeline with start and finish dates. You can also define the key performance indicators (KPIs) that’ll allow you to track the campaign and make sure you’re hitting the marks from your performance baseline. There’s even a place to profile the target market and audience.

6. Marketing Budget Template

It’s no surprise that all of these phases of product development cost money. Product owners have to forecast those costs to build an accurate budget that can cover all expenses required to build, test and bring to market your product and deliver a return on your investment. For a thorough estimate of how much it’ll cost to promote your product use our free marketing budget template for Excel.

The marketing plan template is broken up into categories and subsets for smaller tasks. There’s a column to capture the budget for the entire marketing budget but also each subtask and category. You can chart the year-to-date spending to track how much you’re spending each quarter. There’s also a column that shows what you have left in your budget. There’s room to map your marketing budget across the four quarters of the year to further ensure you’re keeping to your budget.

7. Customer Journey Map Template

A customer journey map turns user insights into actionable product decisions, helping product managers create products that better satisfy users and meet business goals. Use this customer journey map template for a structured layout to capture personas, stages, touchpoints, actions, feelings and pain points in one place.

It helps align teams across product, marketing, UX and support by providing a shared format. The template highlights friction points and opportunities, supports data-driven prioritization of improvements and is flexible and shareable, making it easy to update, customize and export for stakeholders.

8. Competitive Analysis Template

Competitive analysis gives you a clearer picture of your market: what similar products exist, how they’re positioned, what features they offer (or lack), their pricing and strengths/weaknesses. Use this competitive analysis template for Excel to help product managers make smarter, data-driven decisions. It provides a clear view of competitors’ features, pricing, strengths and weaknesses, revealing market gaps and opportunities for differentiation.

That context helps you make smarter decisions about what you build, how you price it and who you target. It reduces risk by highlighting potential threats, supports feature prioritization and roadmap planning, ensures consistent, organized data and makes insights easier to share with stakeholders, ultimately helping teams build more competitive and user-focused products.

9. Product Launch Template

Developing and making the product only gets you to the starting line. If you can’t deliver the product to your target audience, then it’s dead on arrival. Of course, that’s easier said than done. You need to have a well-thought-out product launch, which involves a lot of organization to deliver on the potential of your product. Our free product launch template is designed to connect your product to the market it’s serving.

Open the product launch template in ProjectManager and you have everything you need to deliver your product to market. First, track workflows on our aforementioned kanban boards. Customize columns to represent your workflow and use task cards to track whatever you need, from user stories, prototypes, user feedback and more. Then switch to the Gantt chart to view the product launch timeline. Again, whatever project view you use, the data is the same and it’s always up to date.

10. Go-to-Market Strategy Plan Template

A go-to-market (GTM) strategy plan template helps your product reach the right audience with clarity and purpose; it defines who the ideal customers are (“who”), what value you offer, how you’ll communicate that value and through which channels you’ll deliver it. Use this go-to-market plan template to plan every step, from defining customer personas and value propositions to mapping channels, budgets and launch activities.

Because everything is laid out in a shared, centralized document, it ensures cross‑team alignment, from marketing and sales to product and customer success, which helps the entire launch run more smoothly.

11. Statement of Work Template

There are product management templates that you need before you even start the project. One of those is a statement of work (SOW). It shows the steps of the process you’ll be using, including activities and deliverables, to capture the essential project data. You don’t want to neglect anything critical and have it come to haunt you when in production. That’s why we have a free statement of work template for Word to help you manage the process.

The SOW template doesn’t just detail the project but communicates that information to the product and development team or any other relevant parties. Our free template includes everything you’ll need, from background to the purpose of the project, the scope of work, schedule, deliverables, milestones and more. Plus, it’s customizable. Anything that you don’t need can be deleted and anything not included, you can easily add to ensure it’s as thorough as possible.

12. Media Plan Template

Download this free media plan template for Excel for a structured framework to plan, execute and track marketing campaigns across channels. It helps marketers identify target audiences, select the most effective media outlets, allocate budgets and schedule content or ads efficiently.

By consolidating all media activities in one place, the template improves coordination, ensures campaigns align with product goals, and allows teams to measure performance against KPIs. This leads to more strategic, cost-effective and impactful marketing efforts.

13. Work Order Template

Not all products are built in-house. There’s often the need to outsource some part of the product to contractors. In order to make sure that work is done to your specifications, you need a contract between all parties involved. Our free work order template for Excel organizes the tasks you require in order to keep you on schedule and deliver the product as you want and when you want it.

When you download our free work order template, you’ll see that it has fields for your company information and dates to define the work that’s being contracted. There’s also a place to describe that work so it’s clear and there are no misunderstandings as to what’s expected of the contractor. Finally, after everyone reviews the work order, there’s a place to date and sign it to create a legally binding document.

14. Purchase Order Template

If you need to source products or services from outside vendors, you’ll want to use our free purchase order template for Excel. This acts as a contract between a buyer and a seller and is an essential document to keep the product development moving forward without incident. You need to have an agreement and the purchase order is that legal document that covers both the product owner and whichever vendor they’re working with.

You’ll find everything you need to make the transaction smooth between you and the seller. There’s vendor management information, including contact information, shipping details and inventory that includes what items are being purchased and a place to sign and date the document to make it legally binding. You don’t want to leave loose ends that might make the item unavailable when you need it.

15. Cost-Benefit Analysis Template

We’ve saved one of the most important product management templates for last. Use our free cost-benefit analysis template for Excel to see if the product is worth the time and effort you’ll have to put into it. This template will help you determine if the money you invest in the project is going to have a return on that investment, whether in terms of making money or providing some valuable benefit that makes it something you’ll want to pursue.

How does a cost-benefit analysis work? It’s not that hard, though collecting all the information takes time. Basically, you’re adding up the quantitative costs, whether direct, intangible and opportunity and the quantitative benefits, such as direct, indirect, intangible and competitive. Then you compare the two and see if the costs are worth the benefits.

16. Product Development Template

Use this free product development template to help turn an idea into a viable product in the marketplace. Organize tasks and build a roadmap to turn a concept into a reality. This project management template opens in ProjectManager, which gives users real-time data, a collaborative platform and access to resource, risk and task management tools as well as dashboards and reports.

Some of the benefits of using the free product management template are that users get customized views, built-in columns, subtasks, real-time data and the ability to attach documents, images, schematics and more. There are also multiple views to execute the product management template on kanban boards, Gantt charts and more. See the whole product development on a roadmap and keep the team’s workload balanced so they stay productive.

17. Kanban Board Template

This kanban board template for Excel helps visualize the workflow. The kanban board is a popular tool with DevOps, software developers and more. The process stages are represented by columns and tasks are set on cards that move through production, column by column.

This product management template is customizable and can easily be made to reflect any production schedule. The cards are also customizable. They are outlined with space to define the task title, describe what the task is, who it’s assigned to and the due date.

18. Inventory Template

This free inventory template for Excel is used to document the level of inventory one has in stock and monitor the inventory turnover to ensure that there is always enough inventory to keep production moving uninterrupted. This free product management template lists all the inventory businesses use in their operations.

Manufacturers use this free product management template to make sure they have adequate stock to keep work moving smoothly by tracking turnover and knowing how much to reorder and when to do so to avoid any gaps in production.

19. SWOT Analysis Template

SWOT analysis is a method of evaluating strengths, weaknesses, opportunities and threats in an organization, both internal and external. This knowledge will inform the work one is planning to do and help to invest in the right projects that will deliver a return on investment or some such benefit to the company.

The SWOT analysis product management template is divided into four parts, one for strength, one for weakness, one for opportunity and one for threats. These are then defined as either internal or external, positive or negative. Once the four quadrants are filled, product managers have the information they need to make a strategic plan.

20. Capacity Planning Template

Capacity planning allows product managers to know how much production capacity is needed to meet the demand for their products. This is especially crucial as demand is constantly changing and this free capacity planning template for Excel allows product managers to better manage resources, time, teams and work.

This free product management template lists tasks and their duration, including start and end dates. It also lists the associated resources for those tasks and the hourly rate for the resources and maps this on a project timeline. Using this product management template helps with resource availability and the resource utilization rate.

How ProjectManager Helps With Product Management

These free product management templates are useful, but as we noted earlier, they all fall shy of what project management software can do. ProjectManager isn’t a static spreadsheet or Word document. It’s online software that updates in real time. You don’t have to constantly be manually adding data. Plus, it’s collaborative even for cross-functional product and development teams. Everyone is always working with real-time data, whether they’re in the next office or another time zone.

Create Robust Roadmaps on Gantt Charts

You need to see the whole product development in one place to better understand how to best allocate your resources. Our roadmap shows you every stage of the product management process on a visual timeline. See all the product tasks and milestones and even link all four types of task dependencies to avoid costly delays. You can toggle to the kanban view so teams can manage their sprints or the calendar view to plan your product launch.

Track Your Progress With Real-Time Dashboards

When you set a baseline on the Gantt chart, you capture the product plan and are then able to compare it to your actual progress to make sure you’re staying on schedule. Get a high-level view of your time, tasks, workload and more with our live dashboards. There’s no time-consuming configuration as with lightweight alternatives. Our dashboard is ready when you are.

When you want to get more detail than a dashboard provides, use our project reports which can generate status reports, reports on variance, timesheets and much more, all with a keystroke. Each report can be filtered to show only the data you want to see and then easily shared with stakeholders to keep them updated.

Production Monitoring: Production Monitoring Systems Explained

Peter Landau — Wed, 03 Sep 2025 15:00:32 +0000

Manufacturers compete on speed, quality and reliability, which makes production monitoring a core discipline for keeping lines moving and customers happy. With the right practices, teams get instant visibility into throughput, downtime, scrap and labor so they can correct issues before small delays snowball into missed orders. Clear insight into what is happening on the floor helps leaders set realistic schedules, control costs and maintain consistent output across shifts and sites.

As operations scale, manual checks and siloed spreadsheets cannot keep pace with the volume of data or the speed of decision-making. Manufacturers need connected tools that turn raw signals into action. That is why forward-thinking plants elevate manufacturing monitoring from a clipboard exercise to a digital nerve center that informs planning, resourcing and continuous improvement.

What Is Production Monitoring?

Production monitoring is the ongoing practice of tracking the performance of your lines, workcells and teams to ensure targets are met and problems are resolved quickly. It brings together indicators like cycle time, changeover duration, scrap rates, first pass yield and unplanned downtime to show whether output is on track. When manufacturing monitoring is executed well, managers see a real-time picture of flow, constraints and resource use, then act with confidence to keep orders moving.

In day-to-day terms, production monitoring connects people, machines and schedules so decisions happen close to the work. Operators surface issues, supervisors rebalance tasks, planners adjust capacity and leadership reviews trends to guide investments. The value compounds when monitoring is continuous and standardized across lines, because insights from one area help prevent recurring issues in another.

Project management software centralizes schedules, tasks and resources in one system that mirrors how work actually happens. Instead of piecemeal logs, teams manage assignments, dependencies and approvals alongside live status updates. This alignment accelerates response times, improves handoffs between shifts and ensures every change is reflected across calendars, boards and reports without duplicate data entry.

ProjectManager combines interactive Gantt charts, kanban boards, calendars and task lists with live dashboards that surface progress, workload and costs in real time. Managers can link task dependencies to protect the critical path, visualize bottlenecks on boards, rebalance capacity with workload charts and verify performance through customizable reports. This blend of planning power and live visibility makes our software a strong fit for plants that want to raise on-time delivery while reducing waste and rework. Get started with ProjectManager today for free.

ProjectManager’s Gantt chart helps with production monitoring. Learn more

What Is a Production Monitoring System?

A production monitoring system is the technology and process stack that captures operational data from people, machines and software, then presents it in timely, useful ways for action. On the data side, it may pull from operator inputs, machine counters, barcode scans or integrated ERPs.

On the action side, it turns those signals into dashboards, alerts and prioritized tasks, so supervisors can fix flow issues, planners can refine schedules and leaders can track goals against actuals. For manufacturing monitoring to deliver value, the system must be accurate, fast and embedded in daily routines, giving every role the information needed to keep output predictable and quality consistent.

What Are the Key Elements of a Production Monitoring System?

A production monitoring system is built on interconnected layers that work together to capture, process and act on manufacturing data. At the foundation, the hardware layer provides machines, sensors and infrastructure for real-time data collection. The software layer then integrates and processes this information, connecting production with enterprise systems.

The visualization and analytics layer transforms raw numbers into meaningful dashboards, reports and predictive insights. Finally, the human and process layer ensures people use this information effectively through defined workflows, responses and continuous improvement practices. Together, these layers enable efficiency, quality, and informed decision-making.

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1. Hardware Layer (Data Capture & Infrastructure)

The hardware layer consists of the physical components that generate and transmit production data. This includes machines, programmable logic controllers (PLCs), and a wide range of sensors installed throughout the shop floor that measure cycle times, defects, energy use and environmental conditions.

IoT (Internet of Things) gateways and edge devices preprocess and transfer signals from the shop floor to higher systems. Networking infrastructure, such as industrial Ethernet, Wi-Fi or fieldbus, ensures reliable communication. Together, these elements provide the foundation for real-time production monitoring.

Machines & Controllers

PLCs (Programmable Logic Controllers)
CNC controllers, DCS (Distributed Control Systems)

Sensors

Production flow: proximity switches, optical counters, RFID readers
Quality: vision systems, barcode scanners, weight sensors, micrometers, cameras
Condition monitoring: vibration, temperature, pressure, current sensors
Environment: humidity, air quality, energy meters

IoT Gateways / Edge Devices

Collect sensor/PLC data, buffer it, sometimes preprocess before sending upstream

Networking Infrastructure

Industrial Ethernet, Wi-Fi, 5G, fieldbus (e.g., Modbus, Profibus), OPC-UA for interoperability
Firewalls and secure switches for OT (Operational Technology) networks

2. Software Layer (Collection & Processing)

The software layer integrates, manages, and processes production data captured from hardware. SCADA systems and IoT middleware standardize input from PLCs and sensors, while manufacturing execution systems (MES) track orders, WIP, downtime and scrap. ERP systems connect production data with finance, inventory and supply chain.

CMMS tools manage maintenance activities using failure data. Databases or cloud platforms store time-series data for advanced analysis. This layer transforms raw signals into structured, contextualized information usable across production and enterprise systems.

Data Acquisition / Middleware

SCADA (Supervisory Control and Data Acquisition) systems
IoT/edge software for protocol translation (PLC → MQTT/HTTP, etc.)

MES (Manufacturing Execution System)

Tracks production orders, batches, WIP, downtime, scrap, operators, machine states
Provides schedule adherence, traceability, electronic batch records

ERP Integration

Connects production data with finance, procurement, inventory and customer orders

CMMS (Computerized Maintenance Management System)

Links equipment downtime/failure data to maintenance work orders and schedules

Databases / Data Lakes

SQL/NoSQL/Time-series DB (e.g., InfluxDB) to store sensor and log data

See how ProjectManager’s software can support your manufacturing projects and production processes in the short video below.

3. Visualization & Analytics Layer

The visualization and analytics layer turns structured data into actionable insights. Dashboards, HMIs, and on-boards give operators and supervisors live visibility into KPIs like OEE, FPY, and downtime. Reporting tools summarize performance trends through Pareto charts, SPC or root-cause analysis. Predictive analytics forecast machine failures, quality risks, and scheduling conflicts using advanced algorithms. Alerts and notifications highlight exceptions in real time. This layer ensures stakeholders can quickly interpret production data, prioritize actions and drive continuous improvement initiatives.

Dashboards & HMIs

Line-level: Andon boards, operator HMIs, live OEE displays
Plant-level: Dashboards for supervisors, planners, quality managers

Analytics & Reporting

KPI calculation (OEE, FPY, MTBF, scrap, cycle times)
Pareto charts for downtime/defects
Predictive analytics (machine learning for predictive maintenance, demand forecasting)

Alerts & Notifications

Threshold-based triggers (SMS, email, push notifications, and on lights)

4. Human & Process Layer

The human and process layer ensures production monitoring systems create value through people and workflows. Operators record downtime reasons, defects, or corrective actions, while supervisors and managers review dashboards, escalate problems, and prioritize improvements. Standard operating procedures define how alerts are handled, who responds, and how issues are resolved. Training, safety practices, and communication routines further enhance reliability. This layer aligns people, processes, and decision-making with system insights, ensuring production data translates into efficiency, quality, and compliance.

Operators (log downtime reasons, defects, corrective actions via terminals/tablets)
Supervisors/Managers (review dashboards, prioritize improvements)
Standard Workflows (who responds to alarms, who signs off on quality checks, escalation paths)

15 Key Production Monitoring Areas

Production monitoring focuses on tracking performance metrics that impact efficiency, quality and output. Each metric provides insights into different aspects of the manufacturing process, helping managers identify areas of improvement and ensure operations run smoothly. Below are 15 critical areas to monitor for optimal performance.

These metrics not only help detect issues early but also guide decision-making on production schedules, resource allocation and quality control. By understanding and measuring these areas, manufacturers can improve profitability, reduce downtime and ensure consistent product quality.

Cycle Time: The total time it takes to complete one production cycle from start to finish.
Takt Time: The rate at which products must be produced to meet customer demand.
First-Pass Yield (FPY): The percentage of products that meet quality standards without rework or scrap.
Scrap and Rework Rates: Measures how much production is lost due to defects or requires additional work.
Process Capability (CP) & Process Capability Index (CPK): Indicates how well a process can produce within specified limits consistently.
Overall Equipment Effectiveness (OEE): A comprehensive metric that measures equipment productivity across availability, performance and quality.
Planned & Unplanned Downtime: Tracks both scheduled maintenance and unexpected production interruptions.
Mean Time Between Failures (MTBF): The average time between equipment breakdowns, reflecting reliability.
Mean Time to Repair (MTTR): The average time it takes to fix equipment and resume normal operations.
Inventory Turnover: Indicates how often inventory is sold and replaced over a given period.
OTIF: On-Time In-Full, a metric tracking whether orders are delivered as promised.
Labor Productivity: Measures output per labor hour, reflecting workforce efficiency.
Incidents and Near Misses: Tracks safety-related events to improve workplace safety and compliance.
Schedule Adherence: Measures how closely production follows the planned schedule.
Changeover Time: The time it takes to switch from producing one product to another.

Benefits of Production Monitoring

We’ve outlined only a handful of the benefits that production monitoring has to offer.

1. Improved Efficiency

Production monitoring ensures that every stage of the manufacturing process is tracked in real time. By analyzing performance metrics such as cycle time, OEE and downtime, managers can identify inefficiencies and optimize workflows. This leads to smoother operations, reduced waste and higher output.

2. Enhanced Quality Control

Consistent monitoring helps detect defects early and track first-pass yield, scrap rates and rework. This minimizes quality issues, reduces costs associated with defective products and maintains customer satisfaction through reliable production standards.

3. Better Resource Utilization

By monitoring machine performance, labor productivity and material usage, manufacturers can allocate resources more effectively. This prevents overuse or underutilization of equipment and staff, lowering costs while maintaining high productivity levels.

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4. Increased Equipment Reliability

Tracking MTBF and MTTR metrics supports proactive maintenance, reducing unplanned downtime and extending the lifespan of machinery. Predictive analytics can also anticipate failures before they occur, allowing teams to act before production is impacted.

5. Data-Driven Decision-Making

Production monitoring provides actionable insights through dashboards, reports and trend analyses. Managers can make informed decisions quickly, improving schedule adherence and overall profitability.

How to Manage Production Projects With ProjectManager

Managing production projects effectively requires visibility across multiple workflows, tasks and deadlines. ProjectManager provides several project views to suit different management styles and operational needs. Gantt charts offer a detailed timeline of tasks and dependencies, helping managers visualize the critical path and schedule resources efficiently.

Kanban boards give teams a dynamic way to track progress and move tasks through production stages, while calendar views help plan and balance workloads across shifts. Task lists allow managers to assign, prioritize and check off activities, ensuring no steps are overlooked. All views update in real time, so everyone stays on the same page and production progress is transparent across teams.

Optimize Resource Management

ProjectManager’s resource management tools allow managers to allocate people, machinery and materials efficiently. Workload charts display who is working on what and highlight any overassigned staff or idle resources, making it easy to rebalance tasks before bottlenecks occur.

Managers can set priorities, adjust schedules and reassign resources with a simple drag-and-drop interface. Equipment and material usage can also be tracked, ensuring critical machinery is utilized fully and production costs remain controlled. These tools empower production managers to prevent downtime, reduce bottlenecks and maximize output across all projects.

Track Progress in Real Time

Keeping projects on schedule requires constant monitoring of task completion, milestones and dependencies. ProjectManager provides live dashboards and customizable reports that show overall project health, task status, budget usage and resource allocation. Notifications alert managers to delays or completed tasks, allowing them to respond immediately.

Time tracking ensures labor hours are recorded accurately, while reporting features provide insight into cost performance and productivity trends. By combining visual tools with real-time updates, ProjectManager gives production teams the ability to anticipate problems, make informed decisions and maintain steady progress toward project goals.

8 Agile Templates: Which Free Agile Template is Right for You?

Camilo Tristancho — Fri, 13 Jun 2025 19:00:19 +0000

Agile project management has become a cornerstone for teams aiming to deliver value quickly and adapt to changing requirements. With its iterative approach and focus on collaboration, agile helps streamline workflows, foster transparency and prioritize customer needs. However, implementing agile effectively requires the right tools—especially agile templates that standardize processes and improve consistency across teams.

Whether you’re new to agile or looking to refine your current setup, having access to ready-made agile templates can significantly reduce setup time and boost productivity. In this roundup, we explore essential agile templates for Excel, Word and more that support key activities such as sprint planning, backlog grooming and more—making it easier to stay organized and aligned from sprint to sprint.

1. Agile Sprint Plan Template

Try this free agile sprint plan template, which opens up in ProjectManager’s kanban board. It is a structured tool that helps teams organize, prioritize and track work items during a sprint within the agile framework. Unlike traditional sprint planning that divides work into time-boxed iterations, a kanban board focuses on continuous delivery and workflow management. The agile template is fully customizable so users can name columns as they please, such as “backlog,” “to do,” “in progress,” “review” and “done,” each representing a stage in the workflow.

This visual layout enables teams to map out user stories, tasks or features, and move them across columns as work progresses. The sprint plan template ensures clarity on what needs to be done, who is responsible and how work is flowing through the system. It also helps teams limit work-in-progress (WIP), identify bottlenecks and maintain focus on delivering value continuously. Agile teams using a kanban benefit from this template’s flexibility, visibility, and its seamless integration with ProjectManager’s resource management features and real-time tracking features, making it easier to adjust plans in real time and keep all stakeholders informed throughout the sprint.

2. Agile Roadmap Template

This free agile roadmap template for Excel is a visual planning tool that outlines the strategic direction of an agile project over time. It helps teams and stakeholders align on goals, priorities and timelines while remaining flexible to accommodate change. Unlike traditional roadmaps that set rigid deadlines, an agile roadmap is dynamic and adaptable, typically organized by themes, epics or features rather than fixed dates.

This agile template includes a list of tasks, their start and end dates as well as the planned duration for each. Once that data has been added to the spreadsheet on the left-hand side of the template, the right-hand timeline is automatically populated with a bar chart visualizing those tasks. It offers a clear overview of what’s planned, what’s in progress and what has been delivered, making it an essential communication tool between product managers, development teams and executives. Agile roadmap templates are especially useful for balancing long-term vision with short-term execution, helping teams stay focused while maintaining agility.

If you’ve already opened the agile sprint plan template in ProjectManager you’re aware of the difference between a static Excel document and dynamic project management software. If you haven’t, then you really should give our roadmap a try. It goes beyond an agile template to schedule tasks, resources and costs, links all four types of task dependencies, filters for the critical path and can set a baseline to track progress in real time. Our software is more customizable than templates. Users can add columns or just open the roadmap in the sheet view, which removes the timeline. Get started with ProjectManager today for free.

ProjectManager’s roadmap is better than an agile template. Learn more

3. Kanban Board Template

Use this free kanban board template for Excel to help teams manage workflow, tasks and project progress in a clear, organized way. This agile template is divided into columns, which can be customized to fit one’s process. Traditionally, these columns are titled: to do, in progress and done. The kanban board offers a flexible view of task status and workload distribution. A kanban template simplifies the setup process by providing a ready-to-use structure that teams can quickly populate with tasks, labels, deadlines and assignees. These templates help standardize processes, ensuring consistency across projects while reducing the time needed to organize and visualize team activities.

Using an agile template improves project transparency and enhances team collaboration by offering visibility into what everyone is working on. Team members can move task cards across columns as work progresses, which encourages accountability and helps identify bottlenecks or delays early on. The visual nature of kanban also supports agile and lean methodologies by enabling teams to limit work in progress (WIP), focus on continuous delivery and optimize efficiency. Kanban templates can adapt to nearly any industry or team workflow, making them an essential tool for modern project and task management.

4. Gantt Chart Template

Download this free Gantt chart for Excel to illustrate a project schedule over time. It uses horizontal bars to represent tasks, with the position and length of each bar reflecting the task’s start date, duration and end date. Tasks are typically organized along the vertical axis, while the timeline runs along the horizontal axis. This layout helps teams see what work is scheduled, what tasks depend on others and how resources are allocated. Originally designed for traditional, waterfall-style project management, Gantt charts have evolved into flexible, dynamic tools used in various methodologies, including agile. This is an agile template that is especially useful when working with cross-functional teams, some of whom might be working in a more traditional methodology.

While agile emphasizes flexibility and iterative development, Gantt charts can be adapted to agile workflows to provide structured visibility without undermining agility. For example, in an agile sprint, a Gantt chart can map out sprint goals, user stories and tasks within a two-week period. It can also help track multiple sprints over a release cycle or visualize epics and features across a product roadmap. Teams can adjust timelines in real time to reflect changes in backlog prioritization or sprint planning. By combining agile’s flexibility with the scheduling power of Gantt charts, teams benefit from a hybrid approach that enhances coordination, transparency and timely delivery, especially in larger or cross-functional projects.

5. Product Backlog Template

Use this free product backlog template for Excel to capture, organize and prioritize all the work items, features, enhancements, bug fixes and technical tasks that need to be addressed in a product development process. In agile methodologies, particularly scrum, the product backlog serves as the single source of truth for the team’s work and is maintained by the product owner. This agile template includes fields such as the item title, description, priority, status, sprint assignment and acceptance criteria. By using a standardized template, teams can ensure clarity, consistency and alignment on what needs to be built and why, helping avoid confusion and scope creep during iterations.

As an agile template, the product backlog plays a central role in facilitating iterative planning and continuous delivery. It provides a dynamic list of user stories and requirements that evolve as the project progresses and as customer needs change. During sprint planning meetings, agile teams pull items from the top of the backlog—those of highest priority and readiness—and break them into manageable tasks for the upcoming sprint. This workflow allows for flexibility and responsiveness to feedback, while the template structure keeps the process organized and transparent. A well-maintained product backlog template helps the team focus on delivering value each sprint and serves as a communication bridge between stakeholders and the development team.

6. Test Plan Template

Use this free test plan template for Excel to outline the strategy, resources, scope, schedule and specific tasks required for testing a software product or system. It includes sections such as the objective of the test, test items, features to be tested, testing tasks, responsibilities, resources, environment setup, schedule, risk identification and criteria for test success or failure. This agile template serves as a comprehensive guide for QA teams to follow and helps align the testing process with business and technical requirements. By using a standardized template, organizations ensure consistency, repeatability and thorough documentation across all testing activities, reducing the chances of errors and oversights.

The test plan plays a key role in supporting continuous integration and delivery, which makes it an ideal agile template. Unlike traditional test plans that are static and created only once, an agile test plan is dynamic, evolving throughout the development lifecycle. It integrates with iterative cycles and is frequently updated to reflect the changing scope and priorities of the project. Agile test plan templates are often lightweight and focus on defining what needs to be tested in each sprint, how automated and manual testing will be handled and how acceptance criteria will be validated. These templates ensure testing is embedded within the development process rather than treated as a separate phase, promoting collaboration between developers, testers and product owners to deliver higher-quality software more efficiently.

7. Task Tracker Dashboard Template

This free task tracker dashboard template for Excel is used to monitor and manage tasks across teams and workflows. It provides a centralized view of all ongoing, pending and completed tasks, allowing project managers and team members to assess progress, identify bottlenecks and ensure accountability. This agile template task tracker dashboard includes components such as task lists, assignee names, due dates, priority levels and status indicators (e.g., not started, in progress, completed). These dashboards enable teams to stay aligned on goals and deadlines.

In agile environments, a task tracker dashboard template works as an agile template by supporting transparency, responsiveness and continuous improvement. Agile teams rely on visual boards to keep track of the user stories, tasks and bugs that populate each sprint. The dashboard becomes an evolving map of the team’s workflow, making it easier to conduct daily standups, plan sprints and review progress during retrospectives. The dashboard empowers team members to self-manage their work, flag issues early and adapt quickly to changing priorities—all key tenets of agile project management.

8. Budget Dashboard Template

Download this free budget dashboard template for Excel to provide a clear, real-time overview of a project’s or organization’s budget performance. It consolidates key financial data into an easy-to-read layout, featuring graphs, charts and tables that display budgeted versus actual expenditures, spending by category, cost trends over time and remaining balances. This agile template allows stakeholders to track financial health at a glance. Users can monitor income, expenses, variances and financial KPIs, improving oversight and supporting timely decision-making.

As an agile template, a budget dashboard is especially valuable for Agile teams and product owners who must continuously evaluate cost efficiency throughout project iterations. Agile projects involve frequent changes in scope and resource allocation, and a budget dashboard helps teams stay financially agile by tracking how spending aligns with sprint goals and overall product value. This visibility allows for better forecasting, quicker adjustments to funding needs, and data-driven prioritization of features or epics. Because agile emphasizes adaptive planning and continuous delivery, a well-maintained budget dashboard ensures financial control without slowing down development, keeping teams accountable and focused on delivering value within financial constraints.

How ProjectManager Takes Agile Templates Further

Agile is an iterative approach that demands flexibility, which is alien to static documents like templates. Much more appropriate would be to upgrade to project management software. ProjectManager is award-winning project and portfolio management software that offers an all-in-one dynamic platform that integrates agile tools with broader project management capabilities. There are kanban boards that are the workhorse of any agile project, but also Gantt charts, task, list and calendar views that allow cross-functional teams to work together in real time. Unlike templates, our software provides real-time updates, collaboration tools, automated workflows with task approvals and other tools to give users the flexibility to adapt their workflow as projects evolve without needing to switch tools.

Stay Efficient, Balanced and Adaptive With Resource Management Features

Agile emphasizes flexibility, rapid iterations and continuous improvement, all of which require clear visibility into team capacity and resource allocation. Our software provides real-time workload charts to see allocation and balance workload to keep teams productives, and availability tracking, allowing scrum masters, product owners and team leads to ensure that no one is overburdened and that tasks are evenly distributed across the team. A team page gives users a summary of the team’s activities, which can be filtered by progress or priority, and tasks updated without leaving the page.

Get Transparency, Accountability and Continuous Improvement With Real-Time Project Dashboards and Reports

With real-time tracking features like dashboards for projects or portfolios, progress bars and detailed reports, teams can instantly see how work is progressing across sprints, backlogs and iterations. This visibility supports daily standups, sprint reviews and retrospectives by providing clear, up-to-date metrics on completed tasks, remaining workload and team performance. Dashboards and reports help identify blockers, missed deadlines or scope creep early, allowing teams to adapt quickly. ProjectManager also integrates with kanban boards, Gantt charts and task lists, giving agile teams flexibility in how they view and monitor work.

How to Make a Prototype: Product Prototyping Basics

Brenna Schwartz — Thu, 27 Mar 2025 19:00:46 +0000

Ideas are essential to product development, but they’re intangible. Turning an idea into a product requires many steps. One of the first is to create a product prototype. If you want to know what product prototyping is, you’ve come to the right place.

Below, we’ll define what a prototype is, why it’s important to make a product prototype and explore how to make a prototype. Along the way, we’ll offer tips, particularly on how project management software can help you realize your idea and turn a product prototype into a successful product launch.

What Is a Prototype?

A prototype is the physical manifestation of an idea, an important step in product management. That is, it takes the conceptual product and brings it into the real world. There are various ways that a prototype can be created, from a quick sketch to something three-dimensional, depending on the time and effort you want to spend.

Paper sketches are the simplest type of product prototype, but you can also make a digital prototype. These mockups can help further the design, materialize your product vision and get feedback from the engineering team. Of course, you can make physical prototypes as well.

There are four types of product prototypes. High-fidelity user prototypes test usability, live data prototypes test behavior with data, low-fidelity user prototypes test the value proposition and feasibility prototypes test technical limitations.

A product prototype can even go through many stages, starting with a rough to a more functional, almost complete version of the product. It’s through these exercises that design and engineering departments communicate and develop the idea into a working product.

Having a tool that can bridge the gap between design and engineering is essential to product prototyping. ProjectManager is project management software with multiple views that allow departments to work on the tools they prefer without hindering collaboration. Whether it’s a Gantt chart, task list or kanban board, all data updates in real time to always keep everyone working on the most current product prototype. Get started with ProjectManager today for free.

ProjectManager’s multiple project views, such as kanban boards, foster cross-functional productivity. Learn more

Examples of Projects That Would Require a Prototype

Many projects see significant benefits from prototyping, especially those that involve user interaction, complex designs or new technologies. Here are some examples across industries.

Architecture Prototype Example

In an architectural project, let’s say there’s a modern park pavilion being built. The initial prototype would consist of various architectural sketches of pavilion shapes and layouts on paper. Once the ideal sketch is chosen, a refined 3D digital model is created to help visualize the spatial flow and sunlight patterns. The final prototype would consist of a physical scale model showing the materials and how the pavilion fits within the park’s landscape.

Engineering Prototype Example

Engineering projects, such as creating a new bicycle pedal design, would start with an initial prototype consisting of a rough 3D-printed plastic model that helps test the size and shape. From there, a metal version would be created to test the pedal’s strength and durability. Finally, a working prototype with integrated sensors would be built to collect data to make any adjustments as needed.

Manufacturing Prototype Example

If a new type of kitchen spatula is being created, the initial prototype would consist of a clay model that’s sculpted to test the handle’s grip and shape. After collecting feedback, the next prototype would consist of a 3D-printed plastic version to test the spatula’s heat resistance and flexibility. The final prototype may consist of a small batch of food-grade silicone spatulas. Any user or market feedback will be implemented before the final product is released.

Technology Prototype Example

For this example, let’s say there’s a new mobile app being developed to learn a new language. The first step is to create an interactive wireframe to map out user flows and screen layouts. From there, a clickable mock-up with sample content can help test the app’s core functionality, such as conversation simulations and vocabulary quizzes. Then, a limited yet functional app version will be released to a group of beta testers, where they can submit feedback before the app becomes available.

What Are the Benefits of Making a Product Prototype?

The popularity of product prototyping stems from its importance in product management. The last thing you want to do is launch your product to the market and be inundated with complaints about how this, that or the other thing isn’t working.

One benefit is being able to detect design problems early when they can be resolved cheaply, easily and without damaging your brand.

There’s also the benefit of being able to make more accurate forecasts of the production costs, manufacturing time and the materials you’ll need to make the product. This includes the equipment or machinery you’ll need for production.

It’s also a perfect time to test your product to figure out its usability and durability. Depending on the type of prototype, it could also be shared with customers or end-users to get feedback from them.

The product prototype is a way to determine the function and final design of the product. However, it’s also a useful tool for attracting investors. Showing the product prototype can help you raise the necessary funds to produce and market your product.

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Product Launch Template

Use this free Product Launch Template to manage your projects better.

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Who Should Be Involved in Making a Prototype?

Different project roles will be looped into making a prototype depending on your industry, the project’s stage and its nature. Let’s consider a software project, for example. During the development and creation stages of a software project, UX and UI designers are central to the prototyping process as they create mockups and wireframes.

Developers are also involved as they build functional prototypes and ensure they’re feasible with development constraints. The product manager is involved as they define the prototype’s goals and scope. They can also gather and incorporate feedback from stakeholders throughout these phases.

Once the prototype is built, then comes the reporting phase. Here, roles such as subject matter experts (SMEs) will provide their expertise and ensure the prototype accurately reflects industry standards. End-users will help validate the prototype as well, offering usability testing and real-world feedback. If you work in a different industry, you’ll have other roles interact during the development of a prototype.

How to Make a Prototype in 6 Steps

Now that you see the importance of not jumping into production without first having tested a product prototype, it’s time to learn how to make one. As you might imagine, this is a time-consuming but essential process, it’s not to be overlooked. These six steps will ensure you do a thorough job.

1. Start With a Product Vision

First comes the idea. You have to start somewhere. If you’re not inspired, don’t worry. Most product development doesn’t start with a lightning bolt. It’s best to begin by researching the market and competition. Brainstorming with your team is also a great way to generate ideas. But most of all, your idea should fill an unserved niche or respond to a problem that customers face.

2. Create a Sketch or Use Computer Aided Design (CAD)

Now that you have the idea, you need to get it down on paper. This can be done as a simple sketch, but more common is the use of software such as CAD, which stands for computer-aided design. It can create a 3-D replica of your product idea. That includes dimensions but also shows the product in a virtual simulation, helping you refine the product.

3. Make a Proof of Concept

Once you’ve sketched the idea, you need to create a proof of concept. That’ll show that the product can be developed and how it’ll be developed. It can also be when you test the product and explore its feasibility in a real-world scenario.

4. Make a Physical Product Prototype

Once you’ve done the due diligence and have shown that the product is viable, you’ll want to build a physical product prototype. This should be very close if not exactly like the final product that you’ll market. To do this there are a couple of common approaches. One is 3-D printing, which has become more standard and can even be used in mass production. It’s cost-effective but tends to be fragile and as yet lacks functionality. The other is CNC prototyping, which is a machine that allows for almost perfect, functional copies of a product. However, they’re expensive to install, learn to operate and maintain. A third option would be virtually simulated prototypes, but this doesn’t fit all needs.

5. Test the Prototype

Now that you have a product that you can hold in your hands you have to make sure it does what you created it to do. To validate the design decisions before mass production, you want to have real users try the product and identify issues that might arise. This way changes can be made to build a final product that meets users’ needs and expectations.

6. Create a Production-Ready Prototype

Finally, once you’re certain the product prototype is ready and all the bugs have been worked out, build a production-ready prototype that fits your budget. Figure out the materials and check with reliable vendors to determine costs. At this stage, it’s advisable to create a product roadmap to keep track of any future improvements made to your product.

Product Prototyping Tips

Product prototyping can vary depending on what you’re prototyping, the product you’re manufacturing, etc. Regardless of what or how you use a product prototype, there are a few tips that are universal to the process.

Protect Your Design

Once you’ve designed your prototype and have identified its flaws, you need to protect your intellectual property. The process of filing for a patent should start at least a year before you disclose the work. That helps you avoid plagiarism and other companies copying the design. It’s best to hire a patent lawyer who has expertise and experience. Before filing for a patent, it’s a good idea to have your team, and anyone who is part of the evolution of the design, sign a nondisclosure agreement (NDA).

Use Benchmarking and Competitive Analysis

Benchmarking and competitive analysis are tools that help companies understand the market. Using the ongoing process of benchmarking to measure your product through its development is a way to gather data to improve your product. At the same time, it’s important to understand the market your product will be introduced into and the competitors that your product will need to differentiate itself from. You do this by figuring out their strengths and weaknesses so your product can exploit them.

Consider Costs While Designing Your Product Prototype

Last, but certainly not least, you must always consider cost when product prototyping. There are many stages to making a prototype, from concept to testing and more. Each of these has a related cost and they add up fast. The cost varies depending on the type of product you’re building, but you should research the typical cost for these activities in order not to create a money pit that buries your product under costly expenses.

ProjectManager Helps With Product Prototyping

There’s a lot to manage and track in product development. Just product prototyping alone is a major endeavor. Project management software can help make the process more efficient. ProjectManager is online project management software that helps you plan, manage and track your product prototyping. Our software can also be used throughout the development of your product through manufacturing and marketing.

Manage Time, Cost and Resources

Product prototyping involves the organization of many tasks and stages of development. Manage that work with our robust Gantt charts. Managers can assign tasks, link all four types of dependencies and set milestones on a visual timeline. When you set a baseline, you can benchmark your product against the plan to make sure your actual effort is aligned with your planned effort to help deliver your product on time.

Track Progress in Real Time

To keep to your budget and schedule, you need metrics to measure your progress and the performance of your team. Using our real-time dashboards gives you a high-level view of everything from time on tasks to costs, workload and more. There’s no need to configure the live dashboard as with lightweight products; it’s ready when you are.

If you want to look more closely at the data, it’s easy to generate reports on status, variance, timesheets and more. Every report is customizable to show only the data you want to see. They can also be shared to keep your stakeholders updated and manage their expectations.

ProjectManager is award-winning software that empowers teams to work more productively. Manage, risk, tasks and resources to keep your product on track and deliver success. Join teams at Avis, Nestle and Siemens who use our tool. Get started with ProjectManager today for free.

The post How to Make a Prototype: Product Prototyping Basics appeared first on ProjectManager.

Product Backlog and Sprint Backlog Management: A Quick Guide

Jason Westland — Wed, 12 Mar 2025 16:55:19 +0000

Agile is a useful project management methodology when used correctly. Unfortunately, if the whole team is not familiar with it, things can become inefficient. To avoid that, all agile team members must know what a product backlog and sprint backlog are, both of which are essential for planning and prioritizing tasks in agile project management. These concepts also apply to scrum, kanban and other similar agile frameworks.

What Is a Product Backlog?

The product backlog is a list that compiles all the tasks and user stories that must be done to complete the whole project. But it’s not just a simple task list. An effective product backlog breaks down each of the backlog items into a series of steps that help the development team.

The product backlog is important for product management, and the implementation of agile and it’s also one of the seven scrum artifacts that shape the scrum methodology. But even if it’s been planned out, the product backlog is not set in stone. Like most aspects of agile project management, there are going to be changes. Flexibility is crucial.

Agile teams can get help managing a product backlog with project management software. ProjectManager is online work and project management software designed for agile and traditional projects. Our robust task list project view can collect product backlog items, set priorities, add descriptions and assign team members. Since we have multiple project views, teams can then switch to the kanban board view and collaborate to plan their sprints. Get started with ProjectManager today for free.

ProjectManager’s task lists help teams manage their product backlog. Learn more!

What Should Be Included in a Product Backlog?

While the concept of a product backlog is simple enough, it can be unwieldy, as it’s composed of everything that must be completed to bring in a successful project. One must know the project inside and out, and then have the skill set to break each of those individual tasks into a series of steps that can then be assigned to the team, who must not only complete it but understand it. Here are the most important elements of a product backlog.

User Stories & Epics

User stories are short, simple descriptions of a feature or functionality from the end user’s perspective, typically following the format: “As a [user], I want [feature] so that [benefit].” Epics are larger user stories that require multiple sprints or tasks to complete and are later broken down into smaller, actionable user stories.

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Product Backlog Template

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Technical Improvements

These are backend or infrastructure-related enhancements that improve system performance, scalability, security or maintainability. Examples include refactoring code, optimizing database queries or upgrading frameworks.

Bug Fixes

Bug fixes address defects in the software that impact functionality, performance or user experience. These issues are identified through testing, user feedback or monitoring tools and must be prioritized based on their severity and impact.

Research & Spikes

Spikes are time-boxed investigations or experiments to gain knowledge, reduce uncertainty or evaluate technical feasibility. They are often used when teams need to explore new technologies, architectural decisions or complex requirements before committing to implementation.

Non-Functional Requirements

These define system attributes such as performance, reliability, scalability and security. Unlike functional requirements, which describe what the system should do, non-functional requirements specify how well the system should perform under various conditions.

Dependencies & Constraints

Dependencies are tasks or requirements that rely on completing other work items before they can be implemented. Constraints refer to limitations such as budget, time, regulatory requirements or technical restrictions that influence how a product is developed.

Story Points

Story points are a unit of measure used in agile project management to estimate the effort required to complete a task or user story. They consider complexity, risk, and time, helping teams gauge workload and prioritize tasks without relying on exact time estimates.

Acceptance Criteria

Acceptance criteria are the specific conditions and requirements that a product or feature must meet for it to be considered complete and acceptable by the customer or stakeholder. They provide clear guidelines for successful implementation and testing.

Backlog Items Priority Levels and Status

Backlog items’ priority levels and status help teams organize and track work in an agile backlog. Priority levels (e.g., high, medium, low) define importance, while status (e.g., to-do, in progress, done) indicates progress toward completion.

What Is a Sprint Backlog?

The sprint backlog is a subset of the product backlog. The sprint backlog comes from the product backlog, but it contains only the product backlog items that can be completed during each agile sprint. Think of it as the marching orders for the team as they go off on their short sprint.

The complexity of the project will determine the sprint backlog, but overall the idea is to dedicate the team only to those tasks that can be completed during the sprint. Of course, if it is a complex project the sprint backlog can also grow in complexity and length.

Unlike the product backlog, though, the sprint backlog is unchanged during the period of the sprint. It can be changed, but only during the sprint planning meeting. Once agreed upon, the items and steps to complete them are frozen for the length of the sprint.

Product Backlog Example

The product backlog example below shows the epics, user stories, bug fixes, spikes and technical improvements a software development team plans to work on over two different sprints. It also shows a priority level, story points, assignee status and acceptance criteria for each backlog item.

Sprint Backlog Example

A sprint backlog contains the tasks the development team commits to completing within a sprint. Below is an example of a two-week sprint focused on improving user authentication and enhancing the checkout process.

Sprint Goal:

Enhance user authentication and improve the checkout experience for a smoother purchasing process.

Sprint Backlog Items:

User Story: As a user, I want to reset my password via email so I can regain access to my account. (High Priority, Assigned to Development Team, In Progress, 5 Story Points)
- Implement the “Forgot Password” functionality (High Priority, Assigned to John, In Progress, 3 Story Points)
- Design the password reset email template (Medium Priority, Assigned to Sarah, To Do, 2 Story Points)
- Integrate email service for password reset (High Priority, Assigned to Mike, To Do, 3 Story Points)
Bug Fix: Fix the checkout button not responding on mobile devices (Critical Priority, Assigned to Emma, Done, 2 Story Points)
Technical Improvement: Optimize database queries for faster page load times (Medium Priority, Assigned to James, To Do, 5 Story Points)
Spike: Research two-factor authentication (2FA) implementation options (Low Priority, Assigned to Linda, To Do, 3 Story Points)
Non-Functional Requirement: Ensure password reset meets security best practices (High Priority, Assigned to Development Team, To Do, 2 Story Points)

Throughout the sprint, tasks move through different statuses such as To Do, In Progress and Done, ensuring that progress is tracked effectively.

We created the product backlog and sprint backlog examples above using our free product backlog template for Excel. However, while Excel templates can be useful for agile teams, they can’t compete with ProjectManager, a project management software for agile and product development teams.

ProjectManager’s product backlog shows project tasks and user stories, as well as their deadline, who’s assigned to complete them, their priority level and percent complete. Managers can easily drag and drop these tasks to refine the product backlog. In addition, ProjectManager also allows team members to interact in real time.

Who Owns the Product Backlog?

The product backlog is created by the product owner, who is the project’s key stakeholder and therefore has a full vision of the project. The product backlog is a guide for the agile team and therefore must be written out clearly and simply to avoid any miscommunication or misunderstandings.

To make the process as thorough as possible, it must be organized, and each item explained in full as part of the plan to move successfully through the project.

The product owner knows what the customer wants and can work backward from there to make sure everything is done to meet that goal. That’s the product owner’s lodestar, and if the customer’s interests are always leading the backlog, the work will be effective.

Who Owns the Sprint Backlog?

The development team owns the sprint backlog in scrum. While the product owner is responsible for prioritizing and managing the overall product backlog, once a sprint begins, the development team selects the work they commit to completing and has full ownership of the sprint backlog.

The scrum master ensures that the team follows scrum practices, but they do not control the sprint backlog. Only the development team can add, remove or modify tasks within the sprint backlog during the sprint, based on progress and new insights.

Product Backlog Template

We’ve created a free product backlog template for Excel, which allows agile project management teams to manage their backlog items and plan sprints.

How to Manage a Product Backlog and Sprint Backlog

It’s clear that for the team to work effectively, they must understand the difference between a product backlog and a sprint backlog, and how these two scrum artifacts interact to move the project forward.

1. Identification of Product Backlog Items

Identifying project backlog items involves gathering, defining and prioritizing requirements that contribute to the project’s goals. This includes user stories, features, bug fixes, technical improvements and research tasks. Inputs come from stakeholders, customers and the development team. The product owner ensures backlog items align with business objectives, while refinement sessions help clarify and estimate their effort.

2. Product Backlog Refinement or Product Backlog Grooming

To respond to changes and adapt to an agile framework, agile teams constantly update their product backlogs. That’s known as backlog grooming or backlog refinement. It consists of adding, deleting and prioritizing tasks in the agile product backlog to maximize the efficiency of an agile workflow. This is done during an agile event called a product backlog grooming meeting. The product owner is responsible for overseeing this process, but everyone in the agile team helps.

3. Product Backlog Prioritization

Product backlog prioritization ensures the most valuable and impactful items are addressed first. The product owner prioritizes backlog items based on factors like business value, customer needs, dependencies and technical feasibility. Techniques such as MoSCoW (must-have, should-have, could-have, won’t-have), WSJF (weighted shortest job first) and value vs. effort help determine priority. Regular backlog refinement keeps priorities aligned with project goals.

4. Effort & Complexity Assessment

Effort and complexity assessment helps the development team estimate the time and resources required for backlog items. Techniques like story points, T-shirt sizing (S, M, L, XL) and planning poker are used to gauge complexity and workload. Factors such as technical difficulty, dependencies and risks influence estimates. Accurate assessments support sprint planning, ensuring realistic commitments and balanced workloads.

5. Sprint Planning

During the sprint planning meeting, everyone on the development team should discuss what must be done and how it will be completed to determine what product backlog list and the items from that list are then moved to a sprint backlog list.

At this point, each item on the sprint backlog is broken down into tasks or steps that will be taken to complete the item. All of this must be communicated and agreed upon. As noted above, once started there can be no changes to the tasks and steps needed to complete them.

6. Execution of Product Backlog Items

This occurs during sprints, where the development team selects high-priority tasks from the backlog and works on them incrementally. Tasks are broken down into actionable steps, assigned to team members, and tracked using scrum boards or kanban. Daily stand-ups help monitor progress, address blockers and ensure alignment. Completed items undergo testing and review before deployment.

7. Sprint Review and Retrospective

Sprint review involves the development team presenting completed work to stakeholders for feedback. This session ensures that the product aligns with business needs and allows for adjustments to the backlog based on insights gathered.

Sprint retrospective focuses on internal team improvements. The team reflects on what went well, what could be improved, and action items for enhancing future sprints, fostering continuous improvement.

Product Backlog vs. Sprint Backlog: Key Differences

Understanding the difference between a product backlog and a sprint backlog is essential for effective agile project management. While both are key components of scrum, they serve different purposes. The product backlog is a dynamic, high-level list of all project requirements, while the sprint backlog is a focused subset of tasks selected for a specific sprint. The chart below highlights the key differences between the two.

Feature	Product Backlog	Sprint Backlog
Purpose	Contains all potential work for the product	Defines work committed for the current sprint
Ownership	Managed by the Product Owner	Managed by the Development Team
Scope	Broad, covers the entire product	Focused, limited to a single sprint
Contents	Features, user stories, technical tasks, bug fixes, research items	Selected user stories, tasks, bug fixes, and sprint goals
Timeframe	Long-term, evolving over time	Short-term, updated only during the sprint
Prioritization	Continuously refined and reprioritized	Fixed during the sprint (unless critical changes occur)
Level of Detail	Can include high-level epics and partially defined tasks	Fully refined and broken down into actionable tasks
Flexibility	Items can be added, removed, or reprioritized at any time	Items are locked in once the sprint starts (except in special cases)

What Does an Effective Sprint Backlog Look Like?

By definition, the sprint backlog is easier to create. It’s smaller and more digestible, but that doesn’t mean it can be developed without thinking strategically about the capacity of the team and the resources at hand. If you give a team more than it can handle, the product gets bogged down.

Teams might feel they can do more than they can, so it’s up to the development team and the scrum master, an expert in scrum methodology who guides through skill and experience, to know what the team can do by having a good estimation of their ability.

Define Parameters for the Sprint

Remember, a sprint is usually only over two weeks, though this time can differ depending on the size of the team and project resources, so the sprint length is another variable to determine. The sprint, while short, must not overtax the team or force them to rush and produce a sloppy deliverable.

Therefore, as the sprint backlog and the steps necessary to complete are being figured out by the development team, brainstorm with them, and open a dialogue to determine what is feasible in terms of a strategy for the sprint.

Before moving a task from the product backlog to the sprint backlog, the product owner and scrum master must be sure the team is clear on the steps needed to complete that task. Get them to sign off, so no confusion could cause trouble during the sprint.

Don’t Forget to Prioritize

It’s always a good idea to prioritize tasks on your product backlog from crucial to less important. This is a task for the product owner, being the one most intimate with the needs of the stakeholders.

While the scrum master would seem a logical choice to help with prioritizing, it’s important to remember that the scrum master is only there to help with the process, not with the product. But that’s another term and process for another time.

With knowledge of the product backlog and sprint backlog, you’re well on your way to using agile to help with your project management. It’s a great organizing principle, and one more arrow in your quiver.

Agile Project Management Templates

As stated above, agile is an important project management methodology used in many industries such as product and software development. There’s a lot to learn about agile and for that reason, we’ve created free guides and templates to help you manage your agile projects. Here are some of the most important templates to help with your product backlog.

Requirements Gathering Template

Our free requirements gathering template for Word can help you collect what information you need to solve the problem or achieve the objective of your project. This is where the product backlog starts to help stakeholders and users understand what is required. Once they all agree, teams can start to develop the tasks necessary to get there.

Product Development Template

You have the requirements, but you need to know the pathway to deliver the product to market. That’s where our free product development template comes in. It helps you organize all the parts so they work together to deliver the product on time and within its allotted budget. Get everyone involved in product development, from idea to product design.

Agile Sprint Plan Template

The whole point of having a product backlog is to prepare your team for upcoming sprints. Our free agile sprint plan template lets you involve the entire team in the collaborative process of planning for a sprint. See the phases of the sprint and fill in the details, which saves time and gets your team to work faster.

Manage Your Backlog with ProjectManager

ProjectManager is award-winning software that helps agile teams manage their product backlog and collaborate in planning sprints. Our multiple project views let agile teams work with the tools they prefer while giving other departments that might manage their work differently the features they require. All project views share real-time data so there’s a signal source of truth that keeps everyone working together.

Manage Your Backlog on Kanban Boards

One of the multiple project views in the kanban or scrum board, an essential agile project management tool. This visual workflow feature allows teams to manage their backlog on cards and then work together in planning sprints. Managers get transparency as cards move from one column to the next, representing the production cycle. If there’s a potential bottleneck, managers can reallocate resources quickly to clear it up and keep teams moving forward.

Track Progress With Real-Time Dashboards

For a high-level view of the progress and performance of your team, we have real-time dashboards. There’s no setup required as with other inferior tools, and the software automatically captures and calculates six project metrics that are then displayed in colorful and easy-to-read graphs and charts. Managers get critical information that provides them with valuable insights in real time to make better decisions.

Generate Reports With One Click

When you need more detail than the dashboard can provide, there are several real-time reports that you can generate with a keystroke. Get reports on project status, variance, costs and more. All our reports can be filtered to show only the data you want to see. It’s easy to share them as PDFs or even printed out, depending on how your stakeholders prefer to be updated. More data means a better understanding of your project for you and your stakeholders.

Our software is collaborative to the core, which is what agile teams need to work better together, whether that’s managing their backlog or planning sprints. Comments can be made at the task level, you can even tag someone not in the team if you require their opinion. Teams can also share files. All updates are delivered by email notifications or in-app alerts so everyone is always working together.

When creating a product backlog and sprint backlog, it’s crucial to have the right tools to organize, prioritize and assign all those tasks. ProjectManager is online project management software with a real-time dashboard to track the progress of the project and offers a robust online platform with kanban boards for teams to collaborate during sprints. Try it today and see for yourself with this free 30-day trial.

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15 Best Cost Control Techniques

Brenna Schwartz — Fri, 28 Feb 2025 20:00:57 +0000

Whether you’re managing a project in construction or manufacturing, keeping costs down is paramount. The lower your costs, the higher your profits. It’s as simple as that. This is why cost control techniques are so important in project management and business administration.

To understand cost control methods, let’s first define what cost control is and then we’ll explore the steps you can take to implement cost control. There are also a number of cost control techniques that can help, which we’ll also outline. Learn how strategic cost management techniques can help you better manage construction or manufacturing projects.

What Is Cost Control?

Cost control is a practice performed across businesses in most industries. Cost control works by identifying and reducing expenses to increase the profitability of the company. Cost control as a process begins with estimating costs, making a budget and then implementing cost control methods.

Actual financial results are compared with the budgeted expectations and if the actual costs are more than what was budgeted, actions to reduce those costs must be implemented.

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Cost Benefit Analysis Template

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Comparing costs is but one way to analyze the financial performance of an organization or project. Through this analysis, companies can make more accurate and informed projections to help them minimize their costs and identify areas where they’re overspending. Depending on the type of business, vendor management can also be part of the cost control process as supplies can be a significant cost and potential area of savings.

These costs must also be managed and project management software can help you identify, manage and control costs. ProjectManager is award-winning project management software that has real-time Gantt charts that help you track project cost variance. Once you’ve set a baseline on our Gantt chart, the live dashboard automatically collects project costs and displays them in an easy-to-read graph that shows the actual, planned and budgeted costs. Unlike lightweight tools, there’s no lengthy setup required. Once you’ve set up the Gantt chart, you can monitor project costs in real time on views like the project dashboard.

ProjectManager has real-time dashboards to manage cost control. Learn more

Cost Control Techniques

The more accurate your estimates, the more profitable you’ll be. We’ve already mentioned that, but it’s worth repeating. Estimating can be daunting. It’s far from an exact science, but it’s critical in cost control. We’ve outlined several cost control techniques you can apply to make better cost forecasts.

1. Cost-Benefit Analysis

One way to control costs is by not taking on a project that is never going to give you the return on investment you want. That’s where a cost-benefit analysis comes in handy. It’s a way to estimate the strengths and weaknesses of the project to determine if it’s worth taking on the risk. Therefore, it determines if the investment is sound, as in benefits outweighing costs.

2. Earned Value Management

Earned value management uses costs, schedule, technical scope and risk to measure project performance against a baseline. This helps to identify issues as well as forecast costs by measuring performance against the planned value, actual cost and earned value.

3. Cost Reduction

The best cost control is to reduce costs. There are many ways to implement cost reduction in projects, from proper allocation of resources to mentoring and retaining your team. Project managers should explore all aspects of cost reduction, whether that’s process improvements, reducing project scope or even outsourcing as needed.

4. Cost Accounting

Cost accounting is the monitoring, analyzing and recording of variable and fixed expenses related to the production of goods and services. Through this process, project managers can adopt greater productivity measures, make better strategic decisions and keep to their budget. This is all done, as will cost control, to raise the net profit margins through budgeting, forecasting, the price of the product or service and aligning with corporate strategy.

5. Activity-Based Costing

This cost control technique assigns overhead and indirect costs to related products and services and recognizes the relationship between costs, overhead and manufactured products. It assigns indirect costs to products less arbitrarily than more traditional methods of cost control.

An issue with the activity-based costing technique, though, is that indirect costs such as management and office staff salaries can be difficult to assign to a product.

6. Budgetary Control

Simply put, budgetary control is the management of income and expenditure. Like many cost control techniques, it’s all about comparing the actual costs against the planned costs to identify if there’s a discrepancy between them.

7. Target Costing

Target costs are when a company plans for the price points, product costs and margins it wants to achieve for its new product. If the manufacturing of this product cannot meet these constraints, then the project is shelved. This provides manufacturers with a way to monitor products from the earliest design phase throughout the project’s life cycle to help them invest only in those projects that will increase the company’s profitability.

8. Total Cost of Ownership (TCO)

Total cost of ownership is an estimating process that determines how much money will be spent on an asset over the course of its useful life. That means, from the point of purchase to when the asset is disposed of. This helps to avoid buying assets that won’t bring a return on investment, as the cost to buy, use and maintain is more than the benefit the asset provides.

9. Value Engineering

While its focus is broader than just reducing cost, value engineering is used in cost control to optimize the balance between cost, function and quality. It involves analyzing the functions of a project, product or service to identify ways to achieve the desired outcomes at the lowest cost without compromising quality or performance.

10. Job Costing

This is primarily used in industries where products or services are customized ,such as construction, manufacturing and professional services. Job costing consits in tracking costs related to specific jobs or projects, making it possible to control and monitor costs on a job-by-job basis. It tracks direct costs, identifies cost overruns, improves cost estimation, helps to allocate indirect costs, monitors performance and more.

11. Cost Variance Analysis

Cost variance analysis involves comparing the actual costs incurred in a project or operation to the budgeted or standard costs. It helps identify discrepancies between the planned and actual performance, enabling organizations to take corrective actions to stay within budget, optimize operations and improve overall efficiency.

12. Target Costing

Use target costing as a proactive cost control technique. It focuses on managing costs by setting a target cost for a product or service based on its desired selling price and profit margin. The objective is to meet the target cost without compromising quality, functionality or customer satisfaction. This technique is commonly used in industries where competition is fierce, and price sensitivity is high, such as manufacturing and automotive industries.

13. Zero-Based Budgeting

This method of budgeting is where every expense must be justified for each new period, starting from zero, rather than relying on previous budgets or historical expenditures. It’s an approach that ensures that every dollar spent is scrutinized and aligned with the organization’s goals, making it a powerful tool for cost control by enhancing cost efficiency, encouraging accountability and promoting better financial decision making.

14. Break-Even Analysis

Break-even analysis is an effective cost control technique that helps businesses determine the point at which they cover all their costs and begin to make a profit. It identifies the level of sales needed to break even–i.e., when total revenues equal total costs, and no profit or loss is made. This analysis is crucial for understanding the relationship between fixed and variable costs and helps businesses manage their cost structure and profitability.

15. Life Cycle Costing

Another effective cost control technique is life cycle costing, which involves assessing the total cost of a product or project over its entire lifespan, from design and development to operation and disposal. This approach helps organizations make more informed decisions about costs, by not only considering the initial costs but also the long-term expenses related to maintenance, operation and eventual decommissioning or disposal.

How to Control Costs

Being able to monitor costs in real time is important, but that’s only part of a thorough control cost process. This is a process that needs constant monitoring, but there are steps that you can implement before the project begins to set the stage for controlling costs. Follow these steps to better control costs in your project or business.

1. Identify Your Resource Requirements

Controlling costs starts with planning. One of the most costly aspects of any project or business is the resources needed to do the work. This includes labor, but also equipment, materials and anything required to execute tasks. By identifying these resources with the use of a work breakdown structure to identify deliverables and tasks, project managers can list the resource requirements with greater accuracy.

2. Estimate Costs

Now that you’ve listed the resource requirements, you’ll want to estimate how much each of those will cost. The more accurate you are, the better, of course. Therefore, you’ll want to meet with the project team as they have the experience and can give you more realistic estimates. There’s also historical data that can help you determine the cost compared to what similar projects cost. Finally, don’t neglect expert opinion. Seek it out.

3. Create a Budget

Knowing your deliverables, tasks and resources and having an accurate forecast of costs means that you’re ready to develop a budget. Again, the more accurate the budget, the more likely you can adhere to it and stay profitable. Creating a budget starts by allocating costs to each task on the project schedule. All the activities on a workflow will have a line item cost in the budget.

4. Track & Control Costs

Once the project execution phase begins, so does the monitoring and controlling phase. As teams work on their tasks, the project manager will keep track of their work and the associated costs. Setting a cost baseline captures the budget and makes it easier to compare actual costs to the budget to make sure there’s no overspending. If there is, then the schedule or scope needs to be adjusted to make up for the extra cost if you want to keep the project balanced.

Free Cost-Benefit Analysis Template

One of the best ways to know whether a project is viable in terms of cost is to use a cost-benefit analysis. Download this free cost-benefit analysis template for Excel to determine if a project is viable from a cost perspective. It helps you quickly crunch the numbers and helps determine if the project is worth undertaking.

Importance of Cost Control In Construction

The importance of cost control should be clear, but how does it translate across various industries? Let’s take construction, where cost control is a vital tool to keep expenses under control. This is done by managing labor, materials and overhead costs to keep to the budget. Estimating, as always, is key, but so is monitoring throughout construction otherwise it’s possible to burn through the budget and lose most if not all of a general contractor’s budget.

Importance of Cost Control In Project Management

As in any industry, cost control in project management follows similar lines of collecting actual costs and comparing them to the planned costs of the project. Therefore, cost control is essential to ensure that you’re not spending too much, minimizing costs and revealing areas in the project where costs are spiking so they can be controlled.

Importance of Cost Control In Manufacturing

Manufacturing is no different when it comes to reaping the benefits of cost control. It allows manufacturers to identify waste in their production and work towards eliminating it. But it’s not merely during the manufacturing process where cost control can be effective, but also with administrative costs and even in the selling and distribution process.

How ProjectManager Helps With Cost Control

In order to implement cost control more effectively you’ll want to use project management software. ProjectManager is award-winning project management software that delivers real-time data to help project managers make more informed decisions. More than the accuracy of our data is the wide spectrum of our features that give you the power to monitor and control costs to keep projects within the budget and capture overspending quickly so they can be resolved and not negatively impact your profit margin.

Manage Labor Costs With Online Timesheets

Identifying and tracking resources is an important part of cost control. Labor isn’t only your most important resource but often your most expensive. Our secure online timesheets allow you to monitor the progress that each team member is making on their assigned task to ensure that they’re keeping to the schedule. We also streamline the process by making it easy to carry one task from one week to the next, automatically add them and lock timesheets once submitted.

Keep Teams Productive With Workload Charts

Being able to monitor your team’s workload helps make sure they’re not overburdened with tasks, which leads to low morale and reduced productivity. Our color-coded workload chart makes it easy to see at a glance who has how many assignments. You can then balance the workload without having to leave the chart, making sure that everyone is working at capacity but not overallocated.

There are many other ways to avoid overspending on a project. Our risk management features, for instance, help you identify, track and mitigate risk in your projects, which can put an undue strain on your budget. Task management features keep teams productive and resource management tools help you identify, manage and track resources throughout the project.

ProjectManager is online project management software that connects teams whether they’re in the office, on the job site or anywhere in the world. Our collaborative platform lets you share files, comment at the task level and much more. Join teams at companies as diverse as Avis, Nestle and Siemens who are using our software to deliver successful projects. Get started with ProjectManager today for free.

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Acceptance Criteria in Project Management: A Quick Guide

Brenna Schwartz — Thu, 20 Feb 2025 20:00:02 +0000

When a project or product manager is in the planning stage, they’re scheduling tasks to meet a schedule and not exceed the budget. But if the customer needs aren’t met with the deliverables being created, the project is a failure. Equally or more important than meeting deadlines and avoiding cost overruns is acceptance criteria.

Why are acceptance criteria important? We’ll explain by defining the term and detailing what should be included to help the development team produce successful deliverables. Then we’ll explain when this process occurs, who defines it and more.

What Are Acceptance Criteria?

Acceptance criteria in project management are the specific conditions, requirements or standards that a deliverable must meet before it is accepted by stakeholders, clients or end users. These criteria define what is considered a successful completion of a project, task, or product feature.

For acceptance criteria to be useful it must follow certain characteristics. For example, it should be unambiguous, avoiding vague language to avoid misinterpretation. The criteria should also be measurable and testable, meaning that pass and fail conditions are defined and can be verified. Naturally, the deliverables must contribute to overall project objectives and align with business goals. Finally, they should be realistic and achievable given the resources and constraints of the project.

Once criteria acceptance is set, the project must be managed in a way that deliverables meet those standards. The best way to do this is by employing project management software. However, not all project management tools are alike. ProjectManager is award-winning project and portfolio management software with multiple project views to manage, execute and track deliverables in real time.

Product managers can fulfill the product owner’s needs by scheduling tasks, resources and costs on robust Gantt charts. But they do more than that. Our Gantt charts link all four types of task dependencies to avoid delays and cost overruns, filter for the critical path to identify essential tasks and set a baseline to track planned effort against actual effort in real time. Those plans are then shared across the software allowing teams to manage their backlog and do sprint planning on kanban boards or task lists, which product owners can stay updated on the calendar view. Get started with ProjectManager today for free.

ProjectManager’s Gantt charts help projects meet acceptance criteria. Learn more

What Should Be Included in Acceptance Criteria for Project Deliverables?

Acceptance criteria define the specific conditions a project deliverable must meet to be considered complete and accepted by stakeholders. Clear, well-defined criteria help ensure quality, align expectations and provide a basis for testing and validation. Below are the key components that should be included.

Deliverable Description: Provides a clear definition of the deliverable, including its purpose, scope and expected outcome to ensure it meets stakeholder expectations and business requirements.
Functional Requirements: Specifies the core functions, features and capabilities the deliverable must include to meet user and business needs.
Non-Functional Requirements: Covers additional attributes such as security, usability, scalability and reliability that impact performance but aren’t directly related to functionality.
Performance Requirements: Defines how well the deliverable should operate, including speed, capacity, load handling and response times to ensure optimal efficiency.
Quality Requirements: Establishes standards for accuracy, consistency and reliability to maintain high-quality output and user satisfaction.
Compliance and Regulatory Requirements: Outlines industry-specific regulations, legal obligations and company policies that the deliverable must adhere to, ensuring legal and operational compliance.
Constraints and Limitations: Identifies any restrictions such as budget, time, technology or resource constraints that could impact the deliverables’ development and implementation.
Success Criteria and Testability: Defines measurable success indicators and outlines how the deliverable will be tested to confirm it meets acceptance criteria.
Review and Approval Process: Specifies the steps for internal and external review, stakeholder validation and formal approval before final acceptance and project closure.

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When Should Acceptance Criteria Be Defined?

Acceptance criteria should be defined during the project planning phase before development or execution begins. Establishing clear criteria early ensures that all stakeholders share a common understanding of what constitutes a successful deliverable. It also helps prevent misunderstandings, scope creep and costly revisions later in the project lifecycle.

During requirement gathering and refinement, acceptance criteria should be developed alongside functional and non-functional requirements. In agile methodology, they are typically written as part of user stories in collaboration with product owners, developers and quality assurance (QA) teams. This approach ensures that criteria are realistic, testable and aligned with business objectives.

Acceptance criteria should be finalized before work begins on any deliverable to serve as a clear benchmark for success. However, they may be refined throughout the project based on feedback, evolving business needs or regulatory changes. Ensuring criteria are well-documented and agreed upon before execution helps streamline validation, testing and final approval.

Who Defines the Acceptance Criteria for Project Deliverables?

Project stakeholders, including clients, product owners and business analysts typically define acceptance criteria. They ensure the deliverables align with business goals, regulatory requirements and stakeholder expectations. Stakeholders provide input on what success looks like and specify essential features, functionality and quality standards.

The project team, including developers, designers and quality assurance specialists, collaborates with stakeholders to refine the acceptance criteria. They ensure the criteria are realistic, measurable and testable within the given project constraints. Agile development teams often define acceptance criteria as part of user stories, ensuring clarity before development begins.

In many cases, project managers facilitate the definition process, ensuring all parties agree on the acceptance criteria before execution. They help document and validate acceptance criteria, making sure they serve as a clear guideline for deliverable evaluation. Final approval typically involves key stakeholders who ultimately accept or reject the deliverable based on these predefined standards.

How to Write Acceptance Criteria

Writing clear and well-defined acceptance criteria is essential to ensuring that project deliverables meet stakeholder expectations and quality standards. The process involves identifying key stakeholders, gathering requirements, defining testing methods and ensuring traceability. Below are the key steps to follow.

1. Identify Key Project Stakeholders

Start by determining who is responsible for defining and approving the acceptance criteria. This includes clients, product owners, end users and project team members. Engaging the right stakeholders ensures that the acceptance criteria reflect real business needs and expectations.

2. Gather Requirements for Project Deliverables

Work closely with stakeholders to define the functional and non-functional requirements of the deliverables. This step involves documenting what the deliverable must accomplish, any constraints and specific success conditions that need to be met.

3. Establish Acceptance Testing Methods and KPIs

Define how the deliverable will be tested and measured against the acceptance criteria. Establish key performance indicators (KPIs) to assess functionality, performance and quality. Testing methods may include user acceptance testing (UAT), automated testing or performance evaluations.

4. Create a Requirements Traceability Matrix (RTM)

A requirements traceability matrix (RTM) helps track acceptance criteria from definition to validation. It ensures that all project requirements are linked to their corresponding tests and deliverables, helping teams verify that each requirement is met before approval.

Benefits of a Well-Defined Acceptance Criteria

Well-defined acceptance criteria ensure clarity and alignment among all project stakeholders by setting clear expectations for deliverables. They help prevent misunderstandings between teams, clients and end users by providing a shared definition of success. This clarity reduces the risk of scope creep and ensures that development efforts stay focused on meeting specific business needs.

Having detailed acceptance criteria improves quality and testing efficiency by providing measurable and testable conditions for evaluating deliverables. Quality assurance teams and developers can use these criteria to validate functionality, performance and compliance before submission. This structured approach minimizes defects, reduces rework and ensures the final product meets expected standards.

Acceptance criteria also streamline the approval and acceptance process, making it easier for stakeholders to verify whether a deliverable meets requirements. With predefined success criteria, project teams can quickly address gaps or revisions before the final handover. This results in smoother project execution, faster decision-making and greater stakeholder satisfaction.

Acceptance Criteria Examples

Acceptance criteria vary across industries and project types, but they always serve the same purpose—defining the conditions a deliverable must meet to be considered complete. Below are two examples of acceptance criteria: one for a manufacturing project and another for a user story in software development.

Manufacturing Project Acceptance Criteria

For a manufacturing project, acceptance criteria ensure that the final product meets quality, safety and performance standards. That process can look like the following.

The product must be manufactured using ISO 9001-compliant materials and processes
Each unit must pass a quality inspection, ensuring no defects greater than 0.5mm in variance
The final product must withstand temperatures of up to 200°C without deformation
Packaging must meet industry-standard safety guidelines to prevent damage during transportation

User Story Acceptance Criteria

In software development, acceptance criteria define the expected behavior of a feature within a user story.

User Story: “As a user, I want to reset my password so I can regain access to my account if I forget it.”

A “Forgot Password” link must be displayed on the login page.
The system must allow users to enter their registered email to receive a reset link.
The reset link must expire after 24 hours for security reasons.
The new password must meet minimum security requirements (e.g., at least eight characters, including one number and one special character).
Users should receive a confirmation email after successfully resetting their password.

How ProjectManager Helps Manage Projects and Meet Acceptance Criteria for Deliverables

Having acceptance criteria is one of the many things project managers do to set their projects up for success. As we noted, it’s as vital to delivering projects as planning, budgeting, resource management, monitoring and controlling. But it is also only a small part of that big list of needs a project demands to reach a successful conclusion.

That’s why project management software is so important. It has the features project managers and their teams need to meet acceptance criteria and more. ProjectManager has multiple project views that allow everyone to have the right tools for the right job, but that’s only the beginning of the benefits of our software.

Robust Resource Management and Cost Tracking Features

Resource planning starts on the Gantt chart, where human and nonhuman resources are scheduled. Then, when onboarding the team, project managers can set their availability, including PTO, vacation, global holidays and skill sets, which helps assign the right task to the right person. The color-coded workload chart shows resource allocation over a project or multiple projects. This makes it easy to see who is overallocated or underutilized and then balance the team’s workload to keep them working at capacity. There’s even a team page for a summary of the team’s daily or weekly activities, which can be filtered by priority, progress and more.

Real-Time Project Management Dashboards

Monitoring progress and performance allows project managers to catch issues that can impact the acceptance criteria and resolve them. For a high-level overview, toggle to the real-time project or portfolio dashboards to view one or multiple projects. Easy-to-read graphs and charts show cost, time, workload and more. For more details, visit our customizable reports, which can be generated with a keystroke. There are reports on project or portfolio status, variance, timesheets, workload and more. Each can be filtered to focus on key data points or provide a summary of progress to share with stakeholders. Even our secure timesheets help. They streamline the payroll process but also track labor costs to help keep to the budget.

RICE Framework for Prioritization in Product Management

Peter Landau — Wed, 04 Sep 2024 16:00:13 +0000

What are you going to put on your product roadmap? It’s not an easy question. Which product gets the green light? What features need priority? The RICE framework provides a scoring model for product managers when prioritizing roadmaps.

RICE is an acronym that stands for reach, impact, confidence and effort. Read on to learn how these words can help with product management and determine what are the pros and cons of using a RICE framework for prioritization.

What Is the RICE Framework?

The RICE framework is a scoring method used by product managers to prioritize what’s placed on a product roadmap. This can include products, features and other initiatives. RICE stands for reach, impact, confidence and effort, and these four factors help determine what gets priority.

Having a method by which to prioritize is crucial to building a product roadmap. The RICE model helps product managers know what to work on first from the list of opportunities for improvement and feedback received from customers.

The RICE framework helps you look at each factor of a product idea objectively and balance costs and benefits. This is a relatively new method developed by messaging software maker Intercom. They developed this scoring method to help make consistent decisions across different ideas.

Once you’ve decided what goes on your product roadmap, you need project management software to build and manage that roadmap. ProjectManager is project management software that helps you plan, schedule and track your product roadmap. Use the Gantt chart to see the products and features scheduled from start to finish in one place. You also get metrics such as planned effort, actual effort and more to keep your product on track. Get started with ProjectManager today for free!

ProjectManager’s roadmap helps you prioritize your product features. Learn more

What Is a RICE Score?

A RICE score is a numeric value that helps product development teams better understand what product features have the highest priority level and should be delivered first. The RICE score of a product feature is calculated using three key elements; the RICE scoring model, RICE formula and RICE matrix.

The higher the RICE score, the better the relationship between the potential value of a product feature and its required effort.

RICE Scoring Model

We’ve explained what the RICE framework is, but how does it work? The first step is understanding the four factors that are used to score priority. Let’s go a bit deeper into each aspect of the RICE scoring model.

Reach

In RICE analysis, reach means how many people you think your product or feature will reach over a given timeframe. That time period can be a month, quarter or year. Once you have a timeframe defined, you need to determine how many customers you’ll get over that period including customer transactions, free-trial signups, how many users will try the new features, etc. To score the reach portion of the RICE framework, simply use the number you expect to reach. If you plan on 100 new users, then your reach score is 100.

Impact

Impact helps you set a quantitative goal. In other words, what is your goal, conversions, new customers, brand loyalty, etc.? This metric is more difficult to measure because the “why” a customer makes a decision is hard to discern from mere data. That’s why there’s a five-tiered scoring system of impact.

Massive impact: 3
High impact: 2
Medium impact: 1
Low impact: .5
Minimal impact: .25

You can add these up and get a rough idea of the impact in a quantitative number.

Confidence

You don’t want to get the product team excited about a product or feature that’s not well-thought-out. The confidence factor helps you support projects that have an impact and the data to back it up. Confidence is measured in a percentage.

High confidence: 100 percent
Medium confidence: 80 percent
Low confidence: 50 percent

You want to be brutally honest in your assessment or you’ll suffer the consequences later on. This helps you ensure the impact of the product or feature is based on data. If your confidence is less than 50 percent, the success of the product or feature is going to be a long shot.

Effort

How much effort will the initiative require? This is measured by person-months which is the amount of work that one team member can accomplish within a month. This has to be a rough estimate as it’s impossible to define the time and effort necessary for any project—there are always risks, issues, changes, etc. The scoring method, however, is similar to the reach scoring. Estimate the total number of resources needed to complete the product or feature over a specific period to get the score. So, five person-months is a score of five.

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RICE Matrix

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RICE Formula

The RICE formula contrasts the variables from the RICE scoring method to allow product management teams to compare the potential benefits of developing a product feature against the effort that it will require.

RICE Score = (Reach * Impact * Confidence) / Effort

Let’s now compare two product features using the RICE formula. In this case, their level of confidence is the same, but their reach, impact and effort are different.

Feature A: Has a RICE score of 360

Reach: 600 users
Impact: 3
Confidence: 100
Effort: 5

RICE Score = (500 * 3 * 100) / 5

Feature B: Has a RICE score of 233

Reach: 700 users
Impact: 1
Confidence: 100
Effort: 3

RICE Score = (700 * 1 * 100) / 3

By applying the RICE formula, we can conclude that even though product feature A will require more effort than feature B, it’s still estimated to be more valuable for the organization because of its impact.

RICE Matrix Template

A RICE matrix is a chart that facilitates the process of implementing the RICE prioritization model. With this tool, product management teams can visualize all the potential product features, calculate their RICE score and prioritize them.

This free RICE framework template for Excel is ideal for making a RICE matrix. Simply list product features, assign a reach, impact, confidence and effort value and it will automatically calculate the RICE score.

Using the RICE Model for Product Management

You can see how the RICE prioritization method measures various factors to help with prioritization. We’ve already defined what the letters of the acronym mean, but how do you calculate those scores to come up with the prioritization necessary in product management?

Project management looks after a product from start to finish. It balances the need to deliver profits with customer desires. This process then means understanding what’s technically and operationally possible. You’ll come up with many ideas and the RICE framework helps you choose the ones worth your time and money.

To do this, take the numbers you have for the reach, impact and confidence and multiply them. Then divide that by the number you got for the effort to get your RICE score. It measures the total impact per time worked, which can be maximized through product management by pursuing the ones with the best score.

That doesn’t mean the score from your RICE framework is set in stone. You have to look more holistically. A low RICE score could be the project you need to initiate. There might be dependencies that influence your timeline, but the RICE framework is a great tool to sharpen your focus.

Pros of the RICE Framework

As we mentioned earlier, RICE prioritization has its pros and cons. Let’s first look at some reasons to use the RICE framework. As we’ve emphasized, product prioritization is a strategy used by product managers to figure out where their efforts will be best rewarded. It helps to gather all necessary inputs, make repeatable decisions and communicate why you made those decisions to stakeholders and your team to get their buy-in.

The RICE framework also gives product managers the big picture by looking at a variety of different factors rather than just focusing on one. It’s data, not a gut feeling, and product managers live and die on the accuracy of their data. This also means you can make actionable metrics that are rooted in user engagement and user satisfaction. It also offers scalability as product features grow.

Cons of the RICE Framework

We don’t want to oversell the RICE framework. It’s a great tool, but before you race to tell your product team about this new prioritization method, let’s explore some of the cons. The RICE model is time-consuming so it isn’t ideal for time-sensitive projects.

In addition to time, data is a problem. Sometimes the data you’re estimating isn’t available, such as effort. You’re just coming up with a ballpark figure that could be way off. Reach, too, is a bit of a fantasy. These are simply difficult to measure and might lower your confidence, but in so doing you overlook some great features. You have to be disciplined to make sure your calculations are accurate. Remember, you’re working across four factors, which means four times the opportunity for mistakes.

ProjectManager Helps With Product Management

The RICE framework helps you build a better product roadmap, but then you have to manage that project and deliver it to your end users. That requires product management software that can plan, schedule and track progress and performance. ProjectManager is product management software that connects teams across departments and gives them real-time data to make more insightful decisions.

Manage Work With Kanban Boards

The product manager will prioritize a product roadmap, but the product team needs different tools to do their job. Our multiple project views allow product teams to toggle between different tools that are all updated in real time with the same data. On kanban boards, they can manage their backlog and work collaboratively on planning sprints. Product managers get visibility into their work and can spot potential bottlenecks and reallocate resources to keep teams productive.

Track Progress With Real-Time Dashboards

Priorities mean nothing if you can’t stick to the schedule or stay within budget. Our project dashboards capture live data and display it in easy-to-read graphs and charts. You get a high-level view of six project metrics, from time to costs, tasks to workload and more. If you’re not on track, reallocate resources to get back on schedule. Best of all, unlike lightweight alternatives, our dashboards require no setup. They’re ready when you are.

You can also dive deeper into the data with customizable reports on workload, costs and more that are easily shared with stakeholders to keep them updated. Or look at the calendar product view to quickly see upcoming deadlines. Stakeholders will love this view as they aren’t interested in getting into the weeds but only want to make sure the product is on schedule.

ProjectManager is online product management software that connects teams across departments, even if they work remotely. Our collaborative platform allows you to share files, make comments and even tag anyone on the product team all in real time. Get started with ProjectManager now for free.

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Product Management Archives - ProjectManager

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2. Software Layer (Collection & Processing)

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3. Visualization & Analytics Layer

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