Glossary
Learn about analytics, product, and technical terms and get their definitions in our Glossary.
Product roadmap
Product roadmaps help guide product managers to track a product's progress and make necessary changes. Let’s explore all things product roadmaps, below!
What is a product roadmap?
A product roadmap is an essential tool for product management teams. It is a high-level visual document that outlines the direction of a product, including its features, timeline, and goals. It serves as a plan of action for product managers to follow and is typically used to communicate the progress of a product to stakeholders. Product roadmaps can be created in various formats, such as a Gantt chart, Kanban board, or a timeline.
What should a product roadmap include?
- A timeline of when features will be released
- A list of features that are planned to be released
- Any goals the product team is aiming to achieve
Product roadmaps are a great way for product teams to stay organized and ensure that their product is on track to meet its goals.
Benefits of having a product roadmap
Product roadmaps provide a clear overview of the product development process, from planning to launch. It helps to ensure that all stakeholders are on the same page and that the project timeline is realistic and achievable. The product roadmap also allows for flexibility in the product development process, enabling changes in the plan to be easily implemented.
A product roadmap is typically visualized as a timeline, with each milestone or deliverable marked on the timeline. This allows for a clear view of the project timeline and makes it easy to track progress. It also helps identify any potential issues or risks that may arise during the development process. Product managers can use various tools to create a product roadmap, such as project management software, spreadsheets, and even whiteboards.
Top tools to create a product roadmap
When creating a product roadmap, many tools are available to help product management teams keep track of their progress.
Popular tools include project management softwares:
Spreadsheets and even physical and digital whiteboards, such as Miro, can be used to create lightweight, trackable product roadmaps. Using the right tools, product management teams can make a practical product roadmap and stay on track to meet their goals.
How do product roadmaps help businesses grow?
Product roadmaps are a strategic planning document that outlines the product's vision and how it will be achieved, and ultimately how it will positively impact the business.
Roadmaps serve as a communication tool between product management teams, other stakeholders, and executives, helping everyone understand the product's progress and how it will grow the business. For example, PM’s and other stakeholders can weigh in to prioritize revenue-driving features, to get them slated for development on the roadmap.
Product roadmaps can also include target markets, expansion opportunities, feature sets, milestones, and launch dates. By clearly understanding the product roadmap, teams can better coordinate their efforts to ensure that the product is delivered on time, within budget, and that it is meeting its goals.
Product roadmaps are an essential tool for product teams. They visually represent a product's strategy and timeline and allow teams to plan and track progress. They also provide an overview of the product's progress, and the tools used to create them help product managers to align their team's activities with the product's objectives. Furthermore, product roadmaps help businesses plan and prepare for future challenges.