You are the Product Owner at a small company with a single product. You have authority over pricing, promotion, and how much is invested in new features or capabilities. Your product has: . High Current Value - as indicated by high customer satisfaction. . High Unrealized Value - as indicated by low market share. Using those two data points, what is the first action you should take to increase the business performance of the product? (choose the best answer)
Correct Answer: D
= Based on the Evidence-Based Management (EBM) framework, your product has a high Current Value (CV), which means that it delivers value to the existing customers and meets their needs and expectations. However, it also has a high Unrealized Value (UV), which means that there is a large gap between the potential and actual use of the product in the market. This indicates that your product has a low awareness, reach, or appeal among the potential customers who could benefit from it. To increase the business performance of the product, you need to reduce the UV and increase the Ability to Innovate (A2I), which is the ability to deliver future value. One way to do this is to improve the marketing of the product, which can help you to communicate the value proposition, differentiate the product from the competitors, and attract a greater number of customers. This can also provide you with more feedback and data to inform your product strategy and backlog prioritization. The other options are not the best actions to take, because they either do not address the root cause of the high UV, or they may compromise the CV or A2I of the product. Increasing the number of product features may not necessarily increase the value or the demand for the product, and it may also increase the complexity and the cost of development. Releasing an identical product with a new name may confuse the customers and dilute the brand identity, and it may also create legal or ethical issues. Dropping the price for the product may not be a sustainable or profitable strategy, and it may also affect the perceived quality or value of the product. Reference := Professional Scrum Product Owner™ II Certification, Managing Products with Agility, Evidence-Based Management
PSPO-II Exam Question 2
You are planning to release a large product update several months from now. Because the release will contain many product changes (new features, enhancements, and fixes), a large amount of effort will be needed from the team. During beta testing of the latest increment, you learn that one of the anticipated features does not meet the needs of the users and is rarely used. Which of the following is the best response? (choose the best answer)
Correct Answer: A
PSPO-II Exam Question 3
Which of the following would likely be the least effective way to enhance the agility of your future product development? (choose the least effective approach)
Correct Answer: D
As a Product Owner, you need to embrace agility and empiricism in your product development. This means that you should be able to inspect and adapt your product based on feedback from the market, customers, users, and stakeholders. You should also be able to experiment and learn from your failures and successes. To do this, you need to have a flexible and adaptable product architecture that can support frequent changes and new features. You also need to collaborate with your Scrum Team and other teams in the organization to deliver value incrementally and iteratively. Therefore, leaning on your organizational efficiency and existing architecture to build your product aligned to the current organization is the least effective way to enhance your agility. This approach can limit your innovation, creativity, and responsiveness to the changing needs and expectations of your customers and users. It can also create silos, dependencies, and conflicts within and across teams, and reduce the quality and value of your product. References: Professional Scrum Product Owner™ II Certification Evolving the Agile Organization Managing Products with Agility
PSPO-II Exam Question 4
Experimentation can help a Product Owner to: (select all that apply)
Correct Answer: A,C,D
PSPO-II Exam Question 5
True or False: Measuring internal stakeholder satisfaction is a good substitute in situations where it is difficult to measure customer satisfaction.