Evaluating Product Opportunities
Based on Marty Cagan's opportunity assessment framework, this template helps teams evaluate product opportunities systematically and make data-informed decisions about which opportunities to pursue.
The Four Key Questions
1. Value Risk: Will the Customer Buy This?
- Target Market - Who are we solving for?
- Pain Level - How serious is the problem?
- Market Size - How many customers have this problem?
- Evidence - What data supports our assumptions?
2. Usability Risk: Can the User Figure Out How to Use It?
- User Research - What do we know about user behavior?
- Complexity - How complex is the solution?
- Learning Curve - What's required to get started?
- Evidence - What usability testing have we done?
3. Feasibility Risk: Can We Build It?
- Technical Complexity - What are the technical challenges?
- Dependencies - What external dependencies exist?
- Resources - Do we have the right skills and resources?
- Timeline - Can we deliver in the required timeframe?
4. Business Viability Risk: Does This Work for Our Business?
- Revenue Potential - How will this make money?
- Cost Structure - What are the costs involved?
- Strategic Fit - How does this align with our strategy?
- Legal/Regulatory - Are there any compliance issues?
Assessment Process
- Initial Screening
- Document the opportunity
- Gather available data
- Identify key stakeholders
- Deep Dive
- Answer the four key questions
- Identify gaps in knowledge
- Plan validation activities
- Validation
- Conduct customer interviews
- Build and test prototypes
- Analyze market data
- Decision Making
- Evaluate findings
- Make go/no-go decision
- Document rationale
Opportunity Assessment Template
Opportunity Name: Date: Assessment Team: 1. Value Risk - Target Customer: - Problem Statement: - Market Size: - Evidence/Validation: - Confidence Level (1-5): 2. Usability Risk - User Research Findings: - Complexity Assessment: - Required Learning: - Evidence/Validation: - Confidence Level (1-5): 3. Feasibility Risk - Technical Requirements: - Dependencies: - Resource Needs: - Timeline Estimate: - Confidence Level (1-5): 4. Business Viability - Revenue Model: - Cost Structure: - Strategic Alignment: - Regulatory Issues: - Confidence Level (1-5): Overall Assessment: [ ] Proceed [ ] Need More Information [ ] Do Not Proceed Key Risks: Next Steps:
Pro Tips
- Focus on evidence over opinions
- Involve cross-functional teams in the assessment
- Update the assessment as new information emerges
- Use the template as a guide, not a checklist
- Document assumptions and validation plans