What is a Product Roadmap? | Product Roadmap Templates | Product Roadmap Examples | Product Roadmap Tips

All about Product Roadmap: Types, Tips and Product Roadmap Templates & Examples

August 22, 2019| slideuplift
All about Product Roadmap: Types, Tips and Product Roadmap Templates & Examples
Product Roadmapping is a strategic document that outlines the vision, direction, and progress of a product over time. The primary purpose of a product roadmap is to tie a product’s vision with a company’s business objectives. At the same time, the detailed product roadmap keeps everyone in the team aligned and headed in the same direction.
Product roadmapping is an agile and continuous process throughout the lifecycle of the product to address the evolving needs of the business and market.
Why do we need Product Roadmaps?

A product roadmap is a result of strategic planning. It documents both the executive strategy and overall goals of a product. However, what specific details go in the product roadmap depends on who are you building roadmap for.

As a product roadmap example, development teams will outline detailed execution steps for the team, target release dates, and milestones. The product roadmapping chart developed for senior executives will focus on the higher-level details on features and functions and how product milestones fit the overall company goals and metrics. If the product roadmap is for external stakeholders like customers or investors, it should provide details of new features, and future direction of the product to get them interested.

Product Managers often lead the process of building roadmap, which is often called Roadmapping. They take inputs from various teams such as market research, production, engineering, sales, and executives. Taking information from all the cross-functional teams ensures that the product roadmap is grounded in reality and has taken into account the interests, needs, and capabilities of all the stakeholders involved. It also helps build consensus and alignment amongst all the stakeholders to achieve broader business goals.

What are the necessary components of a product roadmap?

1. Product Vision

This is the entire basis of the roadmap. Outline details of the product that you are making, it’s functionalities and your short and long term vision for it.
Pro Tip: Perform deep analytics by talking to internal and external stakeholders. Assess customer feedback by taking into account the sales team’s observations, market and competitor share, and defining customer personas. Share this vision across various teams and stakeholders to align everyone.

2. Goals

They are the time-bound and measurable targets, with defined metrics for determining success. They are included in a product roadmap to show the critical milestones which need to be accomplished to make the product vision a reality.

3. Initiatives

Strategic initiatives represent high-level objectives that need to be completed to achieve the goals. It is advisable to bucket your feature development and releases under these significant initiatives to show how product development relates to the strategy.

4. Releases

A release is the launch of a new product, feature, or functionality.

5. Time

Dates or time frame for a specific goal or feature to finish. Timelines mentioned in a product roadmap usually act as guidelines for the product teams

6. Status

Status of the different goals, initiatives, development, etc. concerning time.

   A quick check if you have built a useful product roadmap is:

  1. It evolves and changes with the product and market requirements
  2. It acts as a communication tool between all people involved
  3. It indicates exact goals and ties them to the business objectives

Product Roadmap Examples

There are many formats of building product roadmaps. The most critical factor in building a roadmap is the type of audience you are making it for – whether the roadmap is for internal teams or external stakeholders. To give you a better idea, let’s look into different types of roadmaps.

Example 1: The roadmap template below is a strategic outlook of a short term and long term product strategy for customers and investors. They can see how your product plans to evolve, listing both functionalities, and the modules developed.

Product Roadmap PPT Template

View roadmap template

Example 2: The Product Roadmap below is a different way of representing the roadmap once it hits the market. Visual representation shows activities planned at the various stages of adoption of the product lifecycle

Product Roadmap PPT

View product roadmap template

Example 3: A release roadmap typically shows a plan for new features, enhancements and bug fixes in upcoming months. Usually, release roadmaps represent a 3 to 6 months product development window. It is vital to develop this roadmap in alignment with all the stakeholders involved like Development, Testing, and Marketing, etc. to ensure consensus around the release.

Roadmap Powerpoint Template

View roadmap powerpoint template

Example 4: The Roadmapping below shows the product development work across different functions and teams. It is a useful visualization for the product managers, project managers, and internal teams to assess the product/ project progress and measure against their goals.

Product Roadmap Example

View product roadmap example

Example 5: This Roadmap template below gives a detailed status of product development at any given point of time. It focuses specifically on what stage of development the product is in at the present moment. Product Manager needs to continually update the roadmap to show the product progress to all the stakeholders at a glance.

Roadmap Template in PPT

View roadmap template pPT

Example 6: The roadmap template below is for both internal and external stakeholders. It highlights the high-level goals and objectives of the product. Product managers can use this product roadmap template to showcase broader goals and objectives of the product.

Roadmap Powerpoint

View roadmap powerpoint

Conclusion

In any product based company, product, or portfolio of products are the only source of revenues. This makes developing a product roadmap an irreplaceable tool for any product-based business. Though Roadmapping is a continuous and time-consuming process, however investing time in it is critical. Make use of ready-made templates to save time to create your product roadmap. We have developed a library of product roadmap and strategy roadmap templates to help you save time. Check out our library of Product Roadmap templates. You may also check out the broader collection of Strategy templates.

Here is a Free Roadmap PowerPoint Template for you to try.

If you liked any of our templates, we would like you to use them. Use a 10% discount (ESSENTIAL10) on our Essential Pack (value $9.99) and find the simplicity in using the templates to build your roadmap.

About SlideUplift:

SlideUpLift is an online platform to help professionals make compelling presentations using principles of vision science and storytelling. The platform contains an online library of pre-designed presentation templates that can be used across industries and functions

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