…of the Evidence-Based Management framework
Update: In early 2022, a product & company reboot has happened, which pivoted the product much more towards setting goals (OKRs) but still has its roots in teamwork, metrics, and evidence-based management.
It is nice to celebrate small victories – it makes us stop for a moment, and in this short joyful period, each of us creates strong invisible team bonds. You also get to develop this relationship with the work you take part in creating – in our case – a digital product.
Agile Tools hit a milestone a few days ago, with great success. If you tried Agile Tools before, you had a taste of only the Ability to Innovate Key-Value Area and six metrics within.
We are making all four Key-Value Areas of the Evidence-Based Management framework available now, each with a couple of sample metrics. The holistic approach we designed the tool around is far more evident as there are metrics available not only for team-scope but for product and organization also.
There are three new Key-Value Areas rounding up the Evidence-Based Management measurement framework: Current Value, Time to Market, and Unrealized Value. Only a handful of metrics are currently included, but as Agile Tools is also a digital coach, we will try to communicate to you the pros and cons of each as the product matures. There will be a dedicated detail page about each metric available on the platform. We will seek out specialists in each area to offer you the best explanations.
In the long run, we will try to build a metrics hub, a metricspedia, where knowledge will build up, where people will be able to contribute their expertise for others to consume. To support our mission, we will try to create a community that will eventually build up the momentum to break the old habits of using wrong metrics on people in the command and control fashion. And the metrics aren’t the only focus. You can expect much more from Agile Tools in the future.
Current Value
With the set of metrics in this dimension, you will be able to have an insight into the product as is available to customers today.
Product Cost Ratio is trying to answer if your product is profitable.
Revenue per Employee is a financial ratio that measures the revenue generated by each employee of the company on average. Revenue per Employee is relevant for labor-intensive industries, i.e., industries in which human capital is more important than the physical capital for revenue generation.
Time to Market
Improve techniques and measure your ability to deliver quality products to your customers.
Build and Integration Frequency will test your Continuous Integration (CI) capabilities. The main aim of CI is to prevent integration problems, which can be a major cause of delaying the delivery of new features to customers.
Mean Time to Repair is setting up a mirror for your organization, showing you if customers can rely on your ability to remove defects quickly.
Unrealized Value
Learn the potential future value that is currently unrealized, which can guide you to areas of your next engagements with the market and customers.
Customer Satisfaction Gap is showing a product’s performance according to the customer’s expectations. The usual measures of customer satisfaction involve a survey using a Likert scale. The customer is asked to evaluate each statement in terms of their perceptions and expectations of the performance of the product or service being measured.
Market Share metric is used to give a general idea of the size of a company in relation to its market and its competitors.
With this release, we are closing one chapter of our story. What will follow is the addition of new metrics, the ability to add products and teams, and soon after the mechanics for setting the goal the team and the organization would like to pursue.
We feel that setting a goal for the team by the team is essential. In Agile, the team is a self-organizing entity of smart individuals who are by themselves the only ones who can jointly pursue a measurable goal of growing in their profession and contributing to the organization’s business agility.
Update: In early 2022, a product & company reboot has happened, which pivoted the product much more towards setting goals (OKRs) but still has its roots in teamwork, metrics, and evidence-based management.
