It’s funny you mention that. I just realized myself earlier this week that I hadn’t gotten to part 3. Not sure how I forgot. I’ll get to it in the near future though.

The best metric, like all business metrics are basically derived from the same tools that are used to measure business success in attaining the strategic plan. The main tool is then the accounting reports that reflects the budget plan that, when met, indicates and clearly shows, the MRD’s contribution to the bottom line.

Any other metrics outside of the accounting systems that guides the success and longevity of the company are just irrelevant. We have to remember that as a Product Manager, we are “managers” and the main definition of what a manager is clearly states that all our efforts are geared toward one main objective, “maximizing the owner’s wealth.”

Hence, the Best metric that I have always used is the net result of the products I managed as outlined in the MRD. When we look at the end, the MRD is translated into a Budget and resource allocation plan and from this, product revenue are tracked and I have to ensure that the ROI and Payback that was stated in the MRD is either met or exceed at the end. That is the measure of success that I have always used in my 30 years of experience as a successful PLM.

If there is anything else that we need to focus on then please let me know, I am all ears.

Regards,
Willie Hernandez.