How to Use a Product Roadmap

A product roadmap is a visual communication tool and strategic document that presents the overall objectives and important milestones in a new product launch. Roadmaps align key stakeholders around a shared product vision to determine how to achieve the goals involved in developing a product. A range of key stakeholders, including product managers, development teams, marketing and sales teams, analysts, and engineers, utilize product roadmaps to guide the product development process and ensure alignment with the overall product vision and strategy. 

Explore this topic further to gain a robust understanding of what it is and how to use it to your advantage.

What is a product roadmap?

A product roadmap is a high-level tool used to outline a plan for the development of a product and clarify the overall goals of the effort. It is a communication tool for the product development team, stakeholders, customers, and partners. It outlines the company's vision, goals, objectives, key milestones, and timelines for developing and launching new products or features. 

A product roadmap can be simple or complex. It might offer an uncomplicated timeline outlining what happens now, what happens next, and what happens later, or it might offer a more sophisticated, detailed list spanning several years. It should be clear, concise, and easy to understand while providing enough detail to guide the product development team and stakeholders.

What is a product roadmap in Agile?

In Agile development, a product roadmap is a living document that is continually updated and adjusted based on stakeholder feedback and market changes. It is a vital tool for Agile product management, providing a shared understanding of the product vision and goals for all team members.

An Agile product roadmap typically consists of a backlog of user stories, where tasks are prioritized based on business value. Priorities, market conditions, and customer needs may change the overall roadmap throughout the development process. The roadmap should also be transparent and accessible to all team members, enabling collaboration and alignment around the product vision and strategy.

What are the key objectives of a product roadmap?

The main objectives of a product roadmap are to align the product development team around a shared vision and strategy, communicate the product plan to stakeholders, and prioritize product features and enhancements based on business value and customer needs. It also ensures that product development stays on track and provides transparency into the product development process and progress.

A product roadmap helps boost collaboration and efficiency in the product development process by achieving these objectives. It also provides an evolving framework for monitoring progress and success, tracking priorities, and solving problems in a timely manner.

What are the types of product roadmaps?

Several types of product roadmaps exist, each serving a specific purpose. Below are five examples of product roadmap types:

• Strategic roadmaps: These focus on high-level goals and objectives over a given period of time. They provide a big-picture view of the product vision and strategy and help to align stakeholders around a shared vision.

• Technology roadmaps: These outline the technology capabilities and infrastructure needed to support the product vision and strategy. They help ensure the product is built on a solid technological foundation.

• Status-oriented roadmaps: These roadmaps focus on the product's current state and what development will be needed to reach the next milestone. They provide a clear picture of the team’s achievements, current work, and future plans.

• Theme-oriented roadmaps: These roadmaps center around themes or strategic focus areas, such as user experience. They prioritize features and initiatives based on their contribution to achieving the theme or strategic area.

• Outcome-oriented roadmaps: These roadmaps focus on the desired outcomes or goals, such as increasing user engagement and product efficiency. They prioritize features and initiatives based on how they contribute to achieving these goals. 

What should a product roadmap include?

A product roadmap should include the company's vision and strategy for the product, key milestones and timelines for development and launch, and prioritized features. The specific details included in a product roadmap will depend on the company's needs and the type of roadmap it develops. 

However, all product roadmaps should aim to include a succinct summary of the product vision and strategy. They must also provide enough detail to guide the team and additional stakeholders.

How to build a product roadmap

Building a product roadmap that doubles as a status indicator or regulatory entity typically involves the following steps:

1. Determine the overall product vision.

The first step is to clearly define the product's goals and aspirations and how your team will make them possible. To do so, you need to understand the target market, identify the product's unique value proposition, and set high-level goals and objectives.

2. Gather feedback and input.

The next step is to gather feedback and input from stakeholders, including customers, partners, and internal team members. This helps you ensure the product roadmap aligns with customer needs and expectations and that all key stakeholders have a say in the process.

3. Focus on product features and enhancements.

Determine a plan that optimizes the order of what product features receive attention first during the development process. This allows you to spend time working on the necessary enhancements needed to move further along the roadmap. 

4. Create a timeline and milestones. 

Once you have a plan for the product’s features and updates, create a timeline and set key milestones for the product roadmap. Here, factors such as product development time become defined.

5. Identify risks.

Identifying and addressing any risks and assumptions that could impact the product roadmap is essential. This helps to ensure the roadmap is realistic and achievable and that the product development team can address any potential challenges.

6. Involve all key stakeholders.

After the roadmap is developed, it is crucial to properly communicate its contents and strategy to stakeholders and internal team members.

7. Review and update the roadmap regularly.

Finally, it's important to regularly review and update the product roadmap as needed based on feedback, changes in the market, and other factors. It helps to ensure that the development process sticks to the timeline defined and that the work being done reflects the agreed-upon vision for the product.

What are the benefits of a product roadmap?

A product roadmap articulates the reasoning and objectives behind development initiatives, which offers the following tangible and intangible benefits:

• Improved collaboration and alignment around the product vision and strategy

• Increased efficiency and reduced risk in the product development process

• Better communication with stakeholders, customers, and partners

• Prioritization of features and enhancements based on the needs of customers

• Transparency into the product development process and progress

• Measurable progress and success, enabling data-driven decision-making

Companies, industries, and jobs that use product roadmaps

Product managers usually own the product roadmap for a company and take the lead role in gathering ideas, conducting research, and beginning the build process for the roadmap. Product roadmaps appear in a wide range of industries where product manager roles are common, including the following:

• Technology companies, such as software IT companies

• Health care companies

• Financial services companies

• Entertainment companies

Next steps

Effectively communicating the product vision and strategy can streamline the process of gaining executive support. It also ensures that all team members are aligned toward a unified goal. Product roadmaps play a pivotal role in achieving this coherence.

If you’re interested in artificial intelligence (AI), consider enrolling in Duke University's AI Product Management Specialization on Coursera. It includes a flexible schedule, is entirely online, and only takes around three months to complete.