Product Management Glossary

Rapid Application Development (RAD) is a software development methodology that emphasizes iterative prototyping and quick feedback cycles to deliver applications in a fraction of the time traditional methods would take.

Rapid experimentation is an iterative process used in product management to test new ideas, features or products quickly and efficiently, usually via A/B testing or other scientific methods.

Rapid Prototyping is the process of quickly creating a working model of a product or feature in order to test and validate its design and functionality before investing significant time and resources into development.

Rational Product Management is a systematic approach to managing product development and release by analyzing data, measuring performance, and optimizing resources.

Real Options is a concept in Product Management that refers to the ability to make decisions based on the value of future opportunities, rather than just the value of present options.

Refactoring is the process of restructuring existing code without changing its external behavior to improve its readability, maintainability, and performance.

Regression Testing is the process of testing changes made to a product to ensure that previously working functionality has not been impacted. It involves re-executing test cases that were previously passed to ensure that they still pass after the changes have been made.

Release Demo is the presentation of the latest version of a software or product to stakeholders, customers, and end-users.

Release Management is the process of planning, scheduling, coordinating, and controlling the deployment of software releases to production environments, ensuring that the release is delivered on time, within budget, and with the desired quality.

Release Notes are a document that outlines the changes, bug fixes, and new features included in a software release. They are typically provided to users or customers to inform them of what has been updated in the product.

A release plan is a document that outlines the schedule and scope of a product release, including the features and functionality that will be included in the release, the timeline for development and testing, and any dependencies or risks that may impact the release.

A release train is a planning and delivery mechanism used in Agile software development that aligns multiple teams to a common release schedule. It ensures that all teams are working towards the same goal and that the product is delivered on time and with high quality.

Release window refers to a specific period of time during which a product or software release is scheduled to be launched. It is a predetermined timeframe that is agreed upon by the product management team and stakeholders to ensure that the release is delivered on time and meets the desired quality standards.

Requirements Analysis is the process of identifying, documenting, and prioritizing the needs and wants of stakeholders in order to develop a product that meets their expectations and requirements.

Requirements Gathering is the process of identifying, analyzing, and documenting the needs and constraints of stakeholders for a product or project, in order to guide the development and delivery of a successful solution.

A Requirements Traceability Matrix (RTM) is a document used to track and manage the relationship between requirements and other artifacts throughout the product development lifecycle.

Resource allocation in product management refers to the process of assigning and distributing resources, such as time, money, and personnel, to various tasks and projects in order to optimize productivity and achieve business goals.

Responsive Design is an approach to web design that ensures a website is easily viewable and usable on any device, regardless of screen size or orientation.

Retention refers to the ability of a company to keep existing customers engaged and loyal to their brand.

Retention Rate is the percentage of customers or users who continue to use a product or service over a given period of time. It is a key metric for measuring customer loyalty and the effectiveness of a company's efforts to retain customers.

Retrospective is a product management technique where the team reflects on the recent sprint or project to identify what went well, what didn't go well, and how to improve in the future.

Return on Investment (ROI) is a performance measure used to evaluate the efficiency or profitability of an investment. It measures the amount of return on an investment relative to the investment's cost.

Revenue Growth refers to the increase in a company's income over a period of time, typically measured in quarters or years. It is a key metric for evaluating a company's financial health and success.

A revenue model is a framework for generating income from a product or service. It outlines the pricing strategy, target market, and revenue streams for a product or service.

RICE Scoring is a product management framework used to prioritize features or projects based on their potential impact, confidence in the outcome, and the resources required to implement them. RICE stands for Reach, Impact, Confidence, and Effort.

RICE Scoring Model is a prioritization framework used by product managers to evaluate potential initiatives in terms of reach, impact, confidence, and effort.

Risk Management in Product Management refers to the process of identifying, assessing, and mitigating potential risks that may impact the success of a product. It involves analyzing the likelihood and impact of risks and developing strategies to minimize their effects.

A roadmap is a high-level visual representation of a product's strategic direction, outlining the goals and objectives of the product over time. It provides a framework for decision-making and helps align stakeholders around a common vision.

Roadmap milestones are specific goals or objectives that a product team aims to achieve at a certain point in time. These milestones help to track progress and ensure that the team is on track to meet the overall product roadmap.

Roadmap Revolution is a product management methodology that focuses on creating a strategic product roadmap that aligns with the company's overarching goals and objectives.

A Roadmap theme is a high-level category or area of focus within a product roadmap that helps to organize and prioritize initiatives and goals. It provides a framework for product managers to communicate the strategic direction of the product to stakeholders.

A Roadmapping Tool is a software used by product managers to develop a plan of action and prioritize the features and functionalities of a product.

Root Cause Analysis is a problem-solving technique used to identify the underlying cause of a problem or issue. It involves investigating the symptoms of a problem and tracing them back to their source in order to address the root cause and prevent the problem from recurring.

A runbook is a document or set of instructions that describe how to carry out a particular process or procedure. In product management, a runbook may be used to outline the steps required to launch a new product or to manage ongoing product operations.