F like Feature: The Building Blocks of Lean Portfolio Management

In Lean Portfolio Management, features play a pivotal role in driving value delivery and aligning work with strategic business goals. But what exactly is a feature, and why is it so crucial in the grand scheme of portfolio management? Let’s explore the concept of features within LPM and how they contribute to delivering customer value.

What is a Feature?

A feature is a service, capability, or functionality that delivers value to a user, customer, or stakeholder within a specific time frame. In the context of LPM, features are the building blocks that make up the portfolio backlog, guiding teams on what to develop, prioritize, and deliver. Features are part of a larger structure within Lean Portfolio Management, known as Portfolio Epics. A Portfolio Epic is a significant initiative that aligns with the strategic objectives of the organization.

Each Portfolio Epic is broken down into multiple features, with each feature representing a specific piece of work needed to achieve the overall epic.

These features are designed to be completed within a single Program Increment (PI) cycle, typically lasting 8-12 weeks. Given their scope, multiple teams may work on different features simultaneously, collaborating to bring the Portfolio Epic to fruition.

How to Write an Effective Feature?

Writing a feature that effectively contributes to LPM involves several key components:

1. Clear Objective: Start by defining what the feature is intended to achieve. This should align with broader business goals and deliver tangible value to the end user.

2. Acceptance Criteria: Define the conditions under which the feature will be considered complete. This helps ensure that the delivered feature meets the required standards and delivers the expected value.

3. Prioritization: Determine the feature’s priority within the portfolio backlog. This should be based on its potential impact on customer satisfaction, market competitiveness, and alignment with strategic objectives.

4. Estimated Effort: Provide an estimate of the effort required to develop the feature, including time, resources, and any dependencies.

5. Value Proposition: Articulate the specific value this feature will bring to the customer or business. This could be in the form of increased revenue, improved customer satisfaction, or operational efficiency.

Example of a Feature

Let’s consider an example to illustrate what a well-defined feature might look like:

• Feature Name: "Real-Time Order Tracking"

• Objective: Provide customers with the ability to track their orders in real-time, from purchase to delivery.

• Acceptance Criteria:

  • Customers can view the current status of their order at any time.

  • Notifications are sent at key stages of the delivery process (e.g., order dispatched, out for delivery, delivered).

  • The tracking system integrates seamlessly with the existing customer portal.

• Prioritization: High priority due to direct impact on customer satisfaction and reduction in customer support inquiries.

• Estimated Effort: 3 sprints involving 2 development teams.

• Value Proposition: This feature will enhance customer experience, leading to a projected 10% increase in repeat purchases and a 15% reduction in order-related inquiries to customer support.

The Role of Features in Delivering Customer Value

Features are critical to ensuring that the work being done by teams is aligned with the organization's strategic goals and customer needs. They bridge the gap between high-level epics and the detailed work items in the portfolio backlog, ensuring that every piece of work contributes to the overall value stream.

Since features are components of a Portfolio Epic, their successful delivery is essential to achieving the broader strategic goals outlined in the epic. By breaking down epics into manageable features, teams can focus on delivering incremental value, which is a core principle of Agile and Lean methodologies. This incremental approach not only allows for faster feedback and adjustments but also ensures that the organization remains responsive to changing market conditions and customer expectations.

Conclusion

Understanding the role of features in LPM is essential for any organization looking to optimize its portfolio management practices. Features are not just tasks to be completed—they are strategic assets that drive value delivery and ensure alignment with business objectives. By ensuring that features are well-defined, prioritized, and aligned with Portfolio Epics, organizations can effectively manage their resources and deliver on their strategic goals.

If you're eager to learn more about Lean Portfolio Management in SAFe or ready to kickstart your journey with expert guidance, schedule your free consultation call today.