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¶ Success Criteria Review
¶ What it is
Success criteria reviews are comprehensive deep dives that look at product and business performance data versus the success criteria we have set for the product. It helps identify significant gaps and ideate ways to address them early before they become too severe.
¶ Why it is useful
Without regular success criteria reviews, we are blind to making important decisions. Especially when making critical strategic decisions, such as whether to scale or iterate on a product.
¶ When to use it
These reviews should be run periodically, and the result of the success criteria review will impact the product's future direction and the resources we put into it.
¶ How is it done
- Set up a regular (ideally monthly or at least quarterly) review session owned by the business and prepared by BI and business teams.
- Run through the critical success criteria defined, and compare the as-is situation with the perfect to-be picture. Analyze the gaps and find descriptive data that can help point you to the right narratives for why those gaps exist.
- Discuss what the gaps tell you regarding product stage, product strategy, resource need, and further investment.
- Decide on critical actions, and circulate them together with the data that support them for implementation.
¶ Do's & Don't
Do's
- Keep the criteria simple and, ideally, create an automated dashboard to compare as-is with a plan to keep collection efforts low.
- Ensure the criteria are consistent with business goals and synergetic with each other. Wrong target settings lead to bad outcomes.
Don't
- Don’t panic over slight fluctuations in KPIs from meeting to meeting. Look at the significant trends and find explanatory data.
¶ Tools needed
- Business analytics data