Balancing Value and Urgency in Product Development

In the world of software / product development, managing priorities can feel like a perpetual tug-of-war. On one side, we have urgency: planned deadlines, customer calls for new features, and bug fixes – all screaming for immediate attention. On the other side, we have value: long-term impact, technical debt reduction, and strategic initiatives – each promising a more stable, more efficient future. For product managers in particular, managing urgency and value often requires trade-offs and difficult decisions; the key is considering – and balancing – both.

The Challenge of Urgency 

It’s easy to get carried away by calls for urgency when developing software. A client needs a hotfix deployed yesterday … a new product feature is “crucial” for the next funding round … whatever the need, in these moments, the pressure to respond quickly can be immense. However, prioritizing solely on urgency can create problems of its own, especially if such fire drills are common. Technical debt mounts, corners get cut, and long-term sustainability suffers. It’s like building a house on sand; impressive in the moment, but vulnerable over time.

The Challenge of Value 

Value, on the other hand, calls for building software that stands the test of time, of code that’s a joy (or at least not excruciating) to maintain and extend, and of features that address long-term user needs, not just immediate (and sometimes fleeting) demands. It’s about creating a foundation for sustainable growth. But value can be a tricky, too; quantifying its impact can be difficult, and its rewards often lie in the future (unlike the applause that greet a product feature shipped on time).

Product Development That Honors Urgency and Value

So, how can one balance urgency and value throughout the software development process? Here are a few tips from our Revelry Product Management (PM) team::

• Embrace Agile principles: Doing so helps ensure prioritization is a constant conversation, rather than a one-time decree. User stories, milestones, and backlog refinement help balance needs against available time.
• Measure everything: While value can be subjective, data can help us tell a stronger story. User engagement metrics, technical debt reports, and future value analysis all provide valuable insights.
• Consider the effect of delay: Rather than assuming something is urgent because someone pulls the fire alarm, consider the cost of not addressing the need now. Is there a short window for gaining the maximum benefits of this feature? Is there a first-mover advantage? Maybe there’s an external deadline that must be met to avoid incurring delay cost. In the end, urgency may indeed be required, but you won’t know for sure if you don’t ask the question.
• Communicate openly, honestly, and frequently: Be clear in sharing the trade-offs to stakeholders. Show them the potential consequences of prioritizing urgency over value, and vice versa. Transparency builds trust and encourages collaborative decision-making.
• Don’t lose sight of the big picture: Said another way, don’t get lost in the day-to-day. Keep the long-term vision in mind and prioritize accordingly. A solid foundation will ultimately support faster product development and a more impactful product.

Balancing urgency and value is a constant challenge in software development, but it’s one that’s worth the effort. By embracing agility, data, customer feedback, market demands, and a long-term vision for your product, you will position it for success … creating software that not only meets immediate needs, but also thrives for years to come. Remember, sometimes, the most urgent task is not the one screaming the loudest, but the product roadmap that’s quietly suggesting a stable, thoughtful future.

Want to chat more on this topic (or any other tech topic)? Connect with a member of our team. We love this stuff!

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PM product decisions product development product management project management