During the process, you ask yourself if a goal is aligned to the organization or the companys goals. Choose the same tools you used in your last project. Q2. As an example, lets return to the objective, Successfully launch version 2.0 of our early learning app. If you knew that a successful launch meant getting new users to download the app, you could create any of the following key results for the objective: Remember: OKRs are never set in stonethey can and should be revised as you make progress, so its okay if you need to adjust your key results later on. Q4. However, that action varies from platform to platform. Challenges, Example (2023), How to Conduct a Cohort Analysis (Types, Tools). As a project manager, its important to understand how each stakeholder relates to your project. The position of each stakeholder corresponds to their level of interest and influence in your stakeholder analysis. Which three of the following best practices can help you choose tools for your project? To find your total number of active users, first identify the time period you want to measure and track how many unique individuals log on or engage with your platform that day. Q7. Wonder City has several city-wide objectives related to reducing traffic congestion and improving the citys infrastructure. It gives informed data on how effective organization's maintenance processes is running based on factors like equipment quality, performance, and availability. The project is intended to help improve wait times and increase ridership. Engagement is an internal metric. Engagement is ongoing. Select all that apply. See how Whatfix drives product adoption now! Make the investors adopt the companys project expectations. Who should review the work to confirm it is complete? Subscribe to the Digital Adoption Insider now! Record your answers in the Engagement column. Who makes final decisions about the task? Resistance Bands Fitness Workouts. Both of these cases are considered non-voluntary adoptions. Software metrics are important for many reasons, including measuring software performance, planning work items, measuring productivity, and many other uses. Its short and to the point, increasing the likelihood that users will engage, but without follow-up questions or context, its hard to know exactly why a customer might be a Detractor or Passive. And great management teams know that the 7 Agile Metrics That Matter For Successful . Microsoft 365 usage analytics contains additional adoption metrics related to active users to show adoption of the products over time. You are the project manager at Office Green, a commercial landscaping company that specializes in plants and greenery for offices and other businesses. Fill in the blank: The difference between a goal and a deliverable is that the goal is the desired outcome of the project and the deliverable is a _____ of the project. What's a main difference between the adoption and engagement metrics? Project management isn't adequately compensated when compared to similar roles. They also identify one issue causing a delay is the company and the investors (stakeholders) have different expectations of what the completed project should be. Q5. You need to align with the clients Vice President (VP) of Design, Ria. What level of engagement should the team have with the stakeholder? They cannot find information about the vendor in the shared document drive. Then record each stakeholders level of power or influence as high (H), medium (M), or low (L) in the Power or Influence column. Q1. Who is invested in task completion but not directly involved in the work? While they are easy to track and simple to measure, they rarely indicate the value anyone is receiving. This is a joint decision between IT leadership, program management leads, and user adoption specialists. Once a team launches a project, theres still work to be done. To find your NPS, youll need to survey users with the following question: How likely would you recommend [brand] to a friend or colleague? Select all that apply. It goes a step further than just acquisition to encompass activated and retained users. User Engagement leads to Retention, so if you want a strategy for Customer Retention, go here. As such, the user adoption metrics that matter should. Q4. Q3. You can place stakeholders anywhere on the power grideven between quadrants. The easiest way to track and measure your onboarding completion rate is with a tool that offers product analytics. explicit switching costs involve a penalty levied for terminating a deal or contract. The table lists each stakeholders level of power or influence as low, medium, or high. Reddit Design thinking C. Offering D. Shopping product E. Components, Which of the following is the foundation of a value proposition?, Which type of product is usually purchased on the spur of the moment? In the RACI model, which role completes the work for a task or deliverable? Average Session Duration. In 1-2 sentences, describe how you can use the tool. Consult the descriptions below to determine how your team members relate to the tasks: Responsible: Who is responsible for completing this task? Does the key result help define success for your team? CFA Institute does not endorse, promote or warrant the accuracy or quality of ExamTopics. Onboarding completion rate tells you the number of users who reach the end of your onboarding process. Engagement requires less expensive tools. First, identify the stakeholders from the Office Green scenario (e.g., Director of Product, Landscape Designer/Web Designer, etc.) Agile metrics are the quantifiable measures to determine the parameters around the agile project including the quality of work, productivity, progress and level of success of the project and the performance and well being of the Agile team. Youve determined that the following people will be involved: To develop and execute the marketing strategy and sales, your team must complete the following tasks: If you dont have a Google account, you can download the template directly from the attachment below.Activity Template_ RACI chart Phase 1XLSX FileDownload file. Ready to start measuring product and user adoption KPIs? You also estimate costs of $50 per month for the first 12 months, which equals $600 per year. Which of the following is true of someone who is accountable in a RACI chart? Join thousands of leaders from companies like Amazon, Caterpillar, Delta, and Oracle who subscribe to our monthly newsletter. Q8. Which of the following are key components of project initiation? Finally, be sure to save a blank copy of the RACI chart template you used to complete this activity. The project sponsor requests a report on the current budget needs of a project. As a reminder, if there are changes in time, budget, and scope, remember to notify your project sponsor and key stakeholder and make sure theyre aligned. It looks like this: Feature Adoption Rate = (New Feature Users / Total Users) x 100. The CES is the summation of all the total event values. When potential customers click on Plant Pals advertisements, the landing page is the first part of the Office Green website they will see. During these meetings, you organized your thoughts by writing down project key components that the stakeholders have requested. The manufacturer of one of the project deliverables just lost power after a large storm. Adoption vs engagement metrics: wondering what the difference is? Select all that apply. The appropriate individuals are listed as. Which two of the following are adoption metrics? The grid contains all the stakeholders from your stakeholder analysis. A new company project isnt going well. Number of impressions. business outcomes) or represents a behavior your customer does in your product (e.g. The table lists each stakeholders level of interest as low, medium, or high. Churn rate is important because it tells you how well youre connecting with your customers and how well youre retaining them. To pass this practice quiz, you must receive 100%, or 1 out of 1 point, by completing the activity below. How will the user experience be improved? Write down each team members role in the Role column. Assign some of the designers tasks to someone else so they can begin working on the logo changes. In the first article, I presented the intuition behind A/B testing and the importance of establishing the magnitude of the effect you hope to observe and corresponding sample size.. ExamTopics Materials do not Q5. and write their titles in the Stakeholder column of the table. You have customer and user retention on the flip side of customer and user churn. Using the right metrics can help you keep tabs on where you are now, where you're doing well with customers and how you need to improve. When building a team for a new research project, you create a power grid to help you figure out which stakeholders to prioritize. To find time-to-first action, you first need to identify what action youre measuring. Q10. When assigning tasks to team members, what two factors should you mainly consider? A low feature adoption rate could indicate that your users dont need that function or that you need to put more effort into marketing those features and educating your audience on how to use it. Investing your time and money into making changes that will improve your user experience is important. Stops along the new bus lines must connect neighboring suburbs to downtown and public resource facilities. None of the above. The Whatfix Blog | Drive Digital Adoption, The Aha! Determines project roles and assign associated tasks, Establishes communication channels and record preferred methods, Defines the project and its goals and outline what is needed to accomplish them. 3. Create a marketing plan for the new service, Design marketing assets (e.g., flyers, brochures, and online advertisements), Create a customer outreach and onboarding plan. An increase in customer satisfaction score. The agile approach, however, relies on iteration planning and estimating instead of Gantt chart. For example, a new user signs up for your product, and you count that individual towards your acquisition rate. Select all that apply. These templates will be useful as you put together a portfolio of project management artifacts. Select one and add it next to O1 on the first line of the OKR card. In which of the following scenarios does the project manager implement documentation well? In addition to being great indicators of company success and performance, knowing your DAU and MAU will come in handy for tracking other metrics and KPIs, such as customer lifetime value (more on that later). which of the following is an adoption metric? How much influence does each stakeholder have over the project? As the lead project manager for the Plant Pals project, youre managing the launch of this new service. floating scales crossword clue 11 letters. The company hires outside evaluators to review the project. Double the repeat orders from the same quarter last year. Q9. You must also assign roles and responsibilities for each of the project tasks and identify stakeholders impacted by the project. Q3. Developing a product that users love depends on constant refinement and improvement. Which of the following are typical responsibilities of project team members? How will you quantify if you're landing a project at its intended goal? For example, if you have a total of 1,000 users, of which 250 are new, then your. The switch reduces the costs associated with event space, travel, and people resource time. (. Customer lifetime value (CLV) represents a customers total business value during their relationship with your brand. So if time is a constraint, what areas might Ria adjust to reduce the time in the project? At least one individual is responsible for each task. Customer churn rate refers to the number of customers or users who stop using your product or platform during a specified time period. Which type of tool would be best to use to meet the project sponsors request? Promote public transportation as a convenient alternative to driving. Email and chat are examples of what type of project management tool? Q4. VPN to ZTNA. With Whatfix, product teams can create in-app NPS prompts as well as other, targeted, in-app user survey prompts with no development support, to collect feedback in real-time. The adoption phase is the first time your customers start seeing the value of your product and getting returns in the form of improved ROI. Q1. Q2. Even if youre replacing those customers who left, if your churn rate is too high, it will become nearly impossible to grow at a sustainable rate. Which of the following is an adoption metric? It shows the comparison of how well distinct creative executions View the full answer Q4. Fill in the blank: During the planning phase of a project, you take steps that help you _____ to achieve your project goals. For example, if your user was active every day when they first signed up, but their usage fell off recently, this could indicate that theyve permanently solved the problem your platform was designed to fix or that theyve moved on to a competitor. Only one individual is accountable for each task or deliverable. Youd then ask your users to rate their likelihood on a scale of 1-10. When time-to-value is short, customers will realize the return on their investment faster, increasing loyalty and retention. . The formula you use to find customer and user retention is similar to the formula to find churn: Customer retention = Number of customers at the end of a time period / Number of customers at the beginning of the same time period x 100. Add your team members to the template. As the project manager, you will set OKRs to help clarify the project goals and define what needs to be done in order to deliver a successful project. The column Optional indicates, when appropriate, the year when the use of the metric system became optional in that country. Do you expect any resistance that could affect their buy-in? Q4. Write one sentence. When youre measuring the right KPIs for product and user adoption, you can refine and develop your offering until it aligns with your audience. Q6. By . Project management roles are designed to adapt to changes and handle new processes as they come up. Which of the following responsibilities typically belong to the project manager? You meet with stakeholders to decide how to measure project success. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Job growth is also expected to increase by 48%. Q7. Which of the following is an example of a measurable goal? Photo by Luke Chesser on Unsplash. What is the purpose of a project charter? A 20% boost in recurring customer traffic and referrals. A _____ is a body of clients that is large enough to attract many other clients. Tweaking your product to align with your customers needs and expectations encourages sustainable growth but updating and changing your product is expensive and time-consuming. Then youll want to count the days between when that user became a customer and when they performed the particular action youre measuring. Provide a reliable and consistent public transportation service. The team members you need to build the landing page include: To build and launch a landing page for Plant Pals, the team needs to accomplish the following tasks: If you dont have a Google account, you can download the exemplar directly from the attachment below.Activity Template_ RACI Chart Phase 2XLSX FileDownload file. You expect the project to take around six months to complete. You can find insights in the upper right-hand corner of the board, backlog, and deployments view of Jira. It is the ratio of time a system or component is functional to the total time it is required or expected to function. Copyright 2023 - Networking Funda - All Rights Reserved, Project Initiation: Starting a Successful Project Coursera Quiz Answers, Foundations of Project Management Coursera Quiz Answers 2022. Q1. Adoption is generally a one-time occurrence. To find your product adoption rate, use the following formula: Product Adoption Rate = (New Active Users / Total Signups) x 100. In such cases, the easiest method involves using a social media analytics tool like SocialPilot, which enables you to see the metrics of every major social media platform. NPS is an easy way to measure customer satisfaction, but its usually not specific enough as a standalone survey. Then complete the step-by-step instructions. Users' ability to realize a product's value. a customer might be a Detractor or Passive. Box A in upper left (high power, low interest); Box B in the upper right (high power, high interest); Box C in the lower left (low power, low interest); Box D in the lower right (low power, high interest). The evaluators tell the company that its plan has too many delays and that the company wont be able to complete the project on time. Some of your stakeholders include: Part 1 Understanding stakeholders with a stakeholder analysis, Link to template: Stakeholder analysis and power grid, If you dont have a Google account, you can download the template directly from the attachment below.Activity Template_ Stakeholder analysis and power gridPPTX FileDownload file. A 20% increase in the amount of tasks completed. What does stakeholder analysis enable project managers to do? Think about where each stakeholder falls in the grid: monitor, show consideration, keep satisfied, or manage closely. Engagement is an internal metric. Q1. Q6. Then indicate high (H), medium (M), or low (L) in the Interest column. Select all that apply. Imagine youre the project manager of a new grocery delivery service. richard coyle purdy coyle; Tags . Product adoption is typically the final conversion in turning a lead into a customer. enhancement of existing products or services. Replace Task/Deliverable with the name of each task. Select all that apply. CLV gives a long-term view of the value customers provides your business. As such, the user adoption metrics that matter should address issues such as whether your product or service is helping your customer complete their work more efficiently. Q2. There is also a Metrics trending view that pulls monthly snapshots of the metrics. which of the following is an adoption metric? You can measure active users as an absolute count of users or as a percentage, but if you express it as a percentage, make sure you divide by the number of potential users, not your entire employee count. Adoption is an external metric. In this example, 50% of your sign-ups have not been active and are likely to end their relationship with you. You will then present the charter to the individuals involved with the project. The table lists information on each stakeholders role, resources, potential resistance, and engagement. Fill in the blank: Project initiation includes determining resources, documenting key components, and _____. ), knowledge, or relationships that could be helpful. Lets walk through the most important metrics to track for improving your product adoption in 2022. You have been hired as the project manager for this initiative. Starting of Project in Autocad (Video-13) | Complete autocad tutorial for Civil Engineers, Explain Scatterplots and correlation in Details, List out Quality of service [QoS] attributes in UMTS, Conceptual Framework for Internet of Things (IoT), Characteristics of Internet of Things (IoT), Introduction to the Internet of Things (IoT), Creating Toolpaths for a CNC Lathe Quiz Answers Networking Funda, Introduction to User Experience Design Coursera Quiz Answers, Introduction to Digital Transformation Part 1 Quiz Answers, Team: can add one member from the school IT department, Platform should allow teachers to enter grades and allow students/parents to view grades, Need full teacher buy-in at high school: 100% adoption within next nine months, Project should focus only on the digital grading platform and NOT impact other digital platforms (ex. Data and behavior analytics are the best ways to discover where those opportunities lie. Monthly active users (MAU) is typically used to measure platforms or products that might not be necessary to check in every day. Q5. A list of objectives for Project Move It have been provided for you below. For example, pageviews make a poor choice. "Average session time is one of the most telling website engagement metrics and holds great value in understanding how effectively your site meets the intent of users," Kyle Kasharian of 9Sail added. Q2. You still need to use cold, hard data to show the value your platform is adding to your . 1- Adoption Rate: It is the percentage of new users to all users, whether it is for a product or a specific feature. Usage frequency looks at how often a specific account is used. Step 3: Add team members to the RACI chart. Write 2-3 sentences. Compare it to the project goals of the organizations three closest competitors. Who does the project manager need to get approval from before indicating a Go for the project? Which of the following best describes the difference between in-scope and out-of-scope? To find your NPS, youll need to survey users with the following question: How likely would you recommend [brand] to a friend or colleague? With your feature adoption rate, you want only to count the total number of active users not your total signups. Measuring time-to-value cant be done with a set formula. Q2. Once your value behavior is set, simply count the days between becoming a customer and reaching value to find time to value. But if their user count is high, their drop-off could go unnoticed. In this article, we will analyze the level of cryptocurrency adoption in early 2023, after a year of run-down market cycle phase during which Bitcoin's price dropped to its lowest levels in the last two years. There's significant turnover in the project management field. refers to the number of customers or users who stop using your product or platform during a specified time period. Ignore the requests because the project is already underway. During the scoping of this project, Ria says her budget maxes out at $650,000 USDshe cant afford the $800,000 USD that this project will cost. Leave the Engagement column blank for now. Select all that apply. What is the purpose of a stakeholder analysis? Key questions to ask yourself include: Note: The number of stakeholders you keep informed about each task can vary depending on your situation. 15,000 new downloads within first quarter post launch, 75,000 new downloads within first year post launch, 25% of monthly downloads from new customers, The objective defines what needs to be achieved and describes a desired outcome, The key results are ambitious, specific, measurable, and define success for the objective, Post the goal on a project management forum for feedback. What are some tactics to handle external scope creep? For example, if you have 100 sign-ups within your designated time frame, but only 50 of them are active, your product adoption rate would be 50%. is the time it takes for a user to realize the true value of your product or the amount of time it takes to properly onboard a new user and bring them up to speed with your platform. The appropriate individuals are Responsible, Accountable, Consulted, and Informed. What can you do to determine if a goal is relevant? Making data-driven decisions can power your business to the next level. Community member buy-in and support for the locations of the new bus lines will be required. Fill in the blank: In addition to a job title, many companies list project management as a desired _____. Consider the following scenario: The Director of Product requests the project manager to add a new product feature. For example, if users achieve value after completing onboarding and a user takes four days to get through the onboarding process from the day they sign up, your time to value would be four days. Data and, Lets walk through the most important metrics to track for improving your, Daily active users (DAU) or monthly active users (MAU). Its best to measure product usage frequency during a set period, not necessarily for the entire lifetime of the user. Are you ready? Foundations of Project Management Coursera Quiz Answers, Project Initiation: Starting a Successful Project Coursera Quiz answers, Project Planning: Putting It All Together Coursera Quiz Answers, Project Execution: Running the Project Coursera Quiz Answers, Agile Project Management Coursera Quiz Answers, Capstone: Applying Project Management in the Real World Quiz Answers, Your email address will not be published. Q1. We will consider the following metrics: Top countries in crypto ownership. Product adoption rate is the number of users who adopt your software compared to the total number of signups or new users within a specific timeframe. Then you will use a RACI chart to determine each stakeholders relationship to project tasks. ng bi lc Thng Mt 19, 2023. Feature adoption rate User activation rate Time to value Feature adoption rate Customers adopt more and more features relevant to their use case as they progress through the adoption path. Engagement is ongoing. A designer on your project team suggests making changes to the products logo just prior to launch. The RACI chart includes all the deliverables/tasks from the scenario. Adoption is generally a one-time occurrence. Which of the following are examples of success criteria? Read this article to find out it and drive adoption and engagement in your SaaS product. on. Repeat steps 2 and 3 for a second, third and fourth objective to fill up the template. Yes. These metrics are valid for the month, year, and product selected and are defined as follows. How will each stakeholder participate in the project? Insights give a visual snapshot of the following metrics: Sprint progress Issue type breakdown Sprint commitment Deployment frequency Cycle time Use these metrics to continuously optimize team performance. Note: Consult slides 3-5 for a demonstration of how to place your stakeholders. In your inbox. A. . www.examtopics.com. Correct 3. Tell team members to ignore outside requests that will add project tasks. Suppose as a project manager youre receiving requests from stakeholders to add new features to the product youre developing. Measuring product and user adoption give you deeper insight into how you connect with your customers and audience. What steps should you take? Which answer best describes a Matrix organizational structure? Adoption replaces a business metric. On the other hand, if your retention rate is low, its likely an indication that customers are unhappy or a competitor is offering a better service. Start by reading the scenario: As the project manager of a new project, you decide which scheduling, productivity, collaboration, and work management tools the team will use. Write 2-3 sentences. Who are the project stakeholders? Question 8 Which of the following is an adoption metric? Suppose that as a project manager, you speak with stakeholders to determine which tasks the team should complete first. Templates like this one will be useful as you put together a portfolio of project management artifacts. attendance, school lunch payments), Overall, the school is seeking a platform for digital grading. With Whatfix, product managers are empowered to create in-app guided content such as product tours, onboarding task lists, step-by-step walkthroughs, self-help menus, and more all to drive higher levers of product adoption. You are asked to manage an 8-week project for $800,000 USD.
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