What is a product roadmap?

Question

Q:

What is a product roadmap? How will you create or help in creating a Product roadmap?

Answer 1

Vision is a sort of a goal you see for your organization and for the product. You do not own the vision, but you should have a clear sense of what it is as you help carry it out. Thus, there are three elements which constitute a vision on a broader level, the purpose, the picture, and the values. For any product, it’s really important to understand why we are building it, what purpose will it serve to the customer or the client.

Next comes the picture where we see how the end result should look like and lastly what value will it deliver. The vision statement can be just a few lines and it is not going to be very elaborative or prescriptive.

To achieve this vision, a roadmap is created, it is a powerful means to define how a product is likely to grow, to align the stakeholders, and to procure a budget for developing the product and it is also a visual summary that maps out the vision and direction of the product offering over time. It outlines goals, milestones, and deliverables for a product in development.