1- Adoption Rate: It is the percentage of new users to all users, whether it is for a product or a specific feature. You can view them by choosing the tab on top of the report page. Previously, you worked with your project team as they developed a marketing plan, wrote promotional copy, designed marketing assets, and created a sales plan for customer outreach. While measuring engagement is similar to measuring adoption, the latter gives the percentage of key features your customers are using. Imagine that the main supplier for a construction project runs out of steel girders and needs to obtain more to complete the order. In your inbox. You expect the project to take around six months to complete. In your completed RACI chart, who is responsible for coding the landing page? If neither, their interest could be low. You need to align with the clients Vice President (VP) of Design, Ria. What project management value does this represent? Q2. Write one sentence. Have stakeholder involvement before the project begins. Twitter Make it easy to get around the greater Wonder City area via public transportation. Customer retention is the percentage of customers who remain customers during a specific period. Adoption requires more expensive tools. What is the purpose of a stakeholder analysis? User Engagement leads to Retention, so if you want a strategy for Customer Retention, go here. . 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. Analyze, Build and Deliver experiences to application users and drive adoption with the Whatfix Digital Adoption Platform. Record this information in the Impact column. Be sure to address the following elements in your completed RACI chart: Q1. The largest potential source of benefits from mandatory adoption is enhanced safety through a more standardized qualification and testing regime. Which two of the following are adoption metrics? User engagement and productivity. floating scales crossword clue 11 letters. Replace Task/Deliverable with the name of each task. But after signing up, they never log in to your platform or app again. Data and behavior analytics are the best ways to discover where those opportunities lie. (can only be one answer) Number of followers. Fill in the blank: During the planning phase of a project, you take steps that help you _____ to achieve your project goals. An outcome is a metric that measures the impact of your work. Whats a strategy to determine if a goal is attainable? Correct A 35% increase of first-time customers. Adoption requires more expensive tools. What roles do your stakeholders play in the project? Adoption replaces a business metric. However, that action varies from platform to platform. 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). (can only be one answer) Number of followers Number of comments Number of impressions None of the above. Number of comments. For example, if you have 22 new users this month and the number of total users is 200: Your adoption rate is 22/200 x 100 = % 11. 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. How will you quantify if you're landing a project at its intended goal? List at least one type of project management softwarealso called work management toolsto plan, track, and complete work. You arent sure how this will affect the teams tasks. Q2. Setting your product adoption benchmark to be a behavior beyond just signing up helps you track clients getting real value from your product. Scores between 0-6 are considered Detractors, while scores 9-10 are Promoters and 7-8 are Passives. Ultimately . Write one sentence. For each task, assign the letters R, A, C, and I to the team members involved. You will return to it once you have completed the power grid. The project charter ensures everyone is aligned before planning and then executing the project. Which answer best describes a Matrix organizational structure? Q2. Fill in the blank: Project initiation includes determining resources, documenting key components, and _____. You can learn more about the graded and practice items in the Course Overview. Adoption Metrics Metric Description EnabledUsers Number of users enabled to use the product in the month. As a project manager, youre using the SMART criteria to craft goals for your team. Imagine youre the project manager of a new grocery delivery service. OKRs combine a goal and a metric to determine a measurable outcome. Correct 3. Major brands accepting cryptocurrency; Major exchanges users Select all that apply. Which of the key components is the projects goal? Which project initiation component are you trying to determine? We will consider the following metrics: Top countries in crypto ownership. Select all that apply. Using the triple constraint model, what trade-off could the project manager use to meet the Director of Products request? You can use it for further practice or in your own personal or professional projects. Select all that apply. www.examtopics.com. Who is invested in task completion, but not directly involved in the work? Value might be achieved after completing an onboarding process, uploading specific data, or actively using the platform for a set amount of time. When you know what actions users take when they first become users, you can build your onboarding program around getting them up to speed faster and improving your time-to-value. The Microsoft 365 overview report contains the following reports. As a project manager, you're using the SMART criteria to craft goals for your team. The RACI chart includes all the deliverables/tasks from the scenario. Fill in the blank: After the stakeholders assign the project manager, the goals of the project have to be approved, as well as the scope of the project and its _____. They would like to review a detailed breakdown of costs. Project management is a relatively new job title. However, they also state that the team cannot push back the project delivery date. , The easiest way to track and measure your onboarding completion rate is with a tool that offers product analytics. What does stakeholder analysis enable project managers to do? Point being, when you view adoption as the level of penetration a resource has achieved, the metric for adoption is clear active users. You will analyze a scenario about the execution phase of the Plant Pals project. You can find insights in the upper right-hand corner of the board, backlog, and deployments view of Jira. Q3. The table lists each stakeholders level of power or influence as low, medium, or high. Feature adoption rate is similar to product adoption rate but looks at the number of users who actively use a specific feature. NPS is an easy way to measure customer satisfaction, but its usually not specific enough as a standalone survey. Q1. explicit switching costs involve a penalty levied for terminating a deal or contract. Photo by Luke Chesser on Unsplash. Engagement is ongoing. 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. User retention rates. Time-to-value 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 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. Youd then ask your users to rate their likelihood on a scale of 1-10. Software metrics are important for many reasons, including measuring software performance, planning work items, measuring productivity, and many other uses. the most common User Engagement Metrics, like DAU, WAU, MAU, the DAU/MAU Ratio, Day 1, Day 7, & Day 30 User Retention. The project includes conducting field research and synthesizing results. What level of engagement should the team have with the stakeholder? Then youll want to count the days between when that user became a customer and when they performed the particular action youre measuring. It can be calculated on a daily, weekly, monthly . Wonder City is a mid-sized city where increasing growth and traffic are impacting quality of life. These templates will be useful as you put together a portfolio of project management artifacts. In this activity, you will practice creating OKRs (objectives and key results) for a project. All values of the month shown on the top section of the report refer to the latest complete month. Q1. Which tools are best for communicating? Challenges, Example (2023), How to Conduct a Cohort Analysis (Types, Tools). Finally, be sure to save a blank copy of the RACI chart template you used to complete this activity. After the stakeholders agree on the project scope, Ria finds out that her CEO wants more information in the research report. Engagement requires less expensive tools. It's typically derived from your business model (e.g. Q3. Fill in the blank: _____ are gains that are not quantifiable. The agile approach, however, relies on iteration planning and estimating instead of Gantt chart. Q2. Require more detailed bids from the evaluators in writing. This often goes hand-in-hand with DAU or MAU but looks at individual accounts instead of your user base as a whole. A work management software, such as Asana, A productivity tool, such as Microsoft Word. During the process, you create goals that are a little challenging, but also encourage growth. Time-to-first action can help you better understand customer needs and how well youre onboarding users. Which of the following is an engagement metric? How do you manage this additional scope? We and our partners use cookies to Store and/or access information on a device. When potential customers click on Plant Pals advertisements, the landing page is the first part of the Office Green website they will see. The column Optional indicates, when appropriate, the year when the use of the metric system became optional in that country. Think of the Triple Constraint and remember that one constraint will always have the priority. Now go to the second slide of the template: Prioritizing Stakeholders (power grid). Retention Curves, the importance of W1 User Retention. Have the designer begin to implement the logo design changes immediately. You and your team need to maintain trust and generate buy-in from your stakeholders. Which type of tool would be best to use to meet the project sponsors request? The company is getting ready to introduce its new Plant Pals service, and you will manage the launch. Q5. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. How quickly users can learn products. In the second article, I talked about how product managers can design A/B Tests in a manner that speeds the . Q6. Engagement requires less expensive tools. Imagine youre the project manager of a new grocery delivery service. Q10. As a project manager, creating OKRs can help you clarify both your overall project goals and the deliverables youll need to accomplish those goals. Write down each team members role in the Role column. We are the biggest and most updated IT certification exam material website. Write one sentence. Objectives define what needs to be achieved and describe a desired outcome, while key results define how you will measure that outcome. The deliverable to present your projects pre-launch event at a three-day, in-person conference is now an online conference. As a project manager, youre trying to take all the right steps to prepare for the project. To find customer or user churn, use the following formula: Customer churn = Number of customers lost during a time period / Number of customers at the beginning of that time period x 100. Many of these measures identify where employees are in the change process and how they are progressing. How will the project outcomes affect the needs of each stakeholder? Step 1: Place stakeholders in the power grid. Make the investors adopt the companys project expectations. Which key component of project initiation does this scenario concern? Q4. Non-financial metrics are quantitative measures that cannot be expressed in monetary units. Which of the following are examples of key results? What is the main advantage of the Agile approach over the Waterfall methodology? This will give you an idea of how many engaged customers are taking advantage of a particular feature youre offering. 3. Identifying the weak points of your onboarding process will help you create a more engaging system that converts more users. Adoption is an external metric. 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 are two potential consequences of a project manager failing to properly initiate a project? Time-to-first action measures the time it takes a new user to engage with a particular function or feature. Consider the information you added to the Involvement and Impact columns. Which of the following people are likely to be primary stakeholders in a project? As a project manager, you make considerations when building a team. _____ refers to an organization's initiative of adding to a product or service to increase its value to the consumer. Adoption Rate Adoption rate is the most basic metric of adoption, but it's a useful baseline number to have in your back pocket. Q6. Both approaches are fine for this activity. Leave the Engagement column blank for now. Customer lifetime value (CLV) represents a customers total business value during their relationship with your brand. Write 2-3 sentences. Project metrics consist of the following: Intercountry adoption processing in Convention countries must be done in accordance with the requirements of the Hague Adoption Convention; the U.S. implementing legislation, the Intercountry Adoption Act of 2000 (IAA); and the . These metrics can be used to track both technical capabilities and team processes. Start with the Understanding Stakeholders table on the first slide of the template. Q1. A. What steps should you take? 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. Q3. How will you quantify if youre landing a project at its intended goal? Then record each stakeholders level of power or influence as high (H), medium (M), or low (L) in the Power or Influence column. Useful things to track might include: 14-Option 2nd (Relative Pull) explanation- Relative Pull is not an adoption and advocacy metric because it is an Online Advertising Metric. You have been hired as the project manager for this initiative. Step 3: Add team members to the RACI chart. Luckily, you have a team of five teammates to work on this project together! Based on this information, determine how often you should communicate with each stakeholder and what form that communication should take (e.g. If youre struggling to increase your onboarding completion rate even after making process adjustments, it might be because the people starting the onboarding process arent interested in the tool once they become more familiar with it. This metric is the percentage of time that a service or system is available. Here are a few questions to help identify whether someone should be consulted: Informed: Who should be kept informed about task progress or project decisions? 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. Send out feedback surveys to team members, Ask the clients if theyre happy with the result. Question 8) What's a main difference between the adoption and engagement metrics? Can it be measured to prove that youve achieved your objective? Consider your power or influence ratings from the stakeholder analysis. Replace Task/Deliverable with the name of each task. The next course item will provide you with a completed exemplar to compare to your own work. The project sponsor plays a vital leadership role, which always includes funding the project. Bus lines must service at least 50% of the most densely-populated areas of Wonder City. Durable good B. 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.. Does the project sponsor fund the project? The Heart Metrics. Product adoption (also referred to as user adoption) occurs when a user begins to use your product as intended, and fully understands the tools value. 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. In which of the following scenarios does the project manager implement documentation well? 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. Q4. 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. hamilton mustard capital of the world. 8. A _____ is a body of clients that is large enough to attract many other clients. Q8. You expect that a project will bring in $12,000 USD in revenue per year. Q8. The Ultimate Guide to Product Adoption 12 product adoption metrics to track for success Product adoption metrics are about more than just the numbersit's about what the numbers are telling you. Who are the project stakeholders? It gives informed data on how effective organization's maintenance processes is running based on factors like equipment quality, performance, and availability. The project sponsor plays a vital leadership role but does, Meet with stakeholders to make major project decisions, Identify stakeholders and determine their involvement in a project, Determine which stakeholders to exclude from a project, Talk to stakeholders and learn about their interests, Determine which stakeholders should be excluded from the project, Assess each stakeholders reputation and level of experience, Assess each stakeholders level of interest and influence, Responsible, Accountable, Consulted, Informed, Responsible, Accountable, Considered, Informed, Responsible, Appeased, Consulted, Interested, Responsible, Accountable, Considered, Interested, Gives feedback according to their subject matter expertise, Carries out the work to complete the tasks, Learns about tasks when they are complete, Whether the project has a strong business case, Quickly communicate with teammates and stakeholders. Continue with Recommended Cookies. 1 second ago. Fill in the blank: Objectives and Key Results (OKRs) combine both a goal and a _______ to determine a measurable outcome. The following are the product adoption Metrics that differentiate adoption from engagement. Making data-driven decisions can power your business to the next level. Which of the following best describes organizational structure? TechnipFMC now sees a path for upward of 650 basis point expansion in the adjusted EBITDA margin to 18% and adjusted EBITDA of approaching $1.4 billion by 2025, more than 100% higher from the 2022 . When assigning tasks to team members, what two factors should you mainly consider? No. To find your time to value, you first must define what action represents reaching value for your users. Depending on their role or resources, you might communicate with them daily, regularly, or rarely. Q5. You can use it for further practice or in your own personal or professional projects. Adoption is an external metric. 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. contain actual questions and answers from Cisco's Certification Exams. Q5. Who should review the work to confirm it is complete? Every week. A 20% increase in the amount of tasks completed. It goes a step further than just acquisition to encompass activated and retained users. Which of the following is true of someone who is accountable in a RACI chart? Q7. Measuring product and user adoption give you deeper insight into how you connect with your customers and audience. Implement the initial stakeholders requests and then ban all future requests. What are the main uses of scheduling and work management software? You have customer and user retention on the flip side of customer and user churn. As such, the user adoption metrics that matter should. Q7. Engagement requires less expensive tools. 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. Recruiting for field research will take a week longer than expected. In this quiz, you will practice applying the Triple Constraint (budget, time, scope) to the following project scenario: Imagine you are a User Experience (UX) Program Manager at a small design agency. A high usage frequency will show you who your best customers are and who might need some additional attention or support to reach the full value of your product. Based on the nature of the Metrics some tabs will allow the ability to use a pull down menu to select a specific Adoption Metric. An adoption metric might tell you, for example: all project managers have kept their schedules up-to-date. Submersible pump. Provide examples to help illustrate your explanations. 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. Question 8 Which of the following is an adoption metric? Q5. Q1. Adoption replaces a business metric. During the project weekly meeting, the project manager learns the main vendor will increase the cost of raw materials by 20% due to an international shortage. You can use them to work through your thought processes as you demonstrate your experience to potential employers. Facebook In this specific example, you should notify the internal stakeholders, so that they can make decisions about what to do about the changes in the project, while considering the Triple Constraint.