Product Management Glossary

Objection Handling is the process of addressing and overcoming objections or concerns that potential customers may have about a product or service, in order to increase sales and improve customer satisfaction.

Objectives and Key Results (OKRs) is a management framework used to set measurable goals and track their progress in order to achieve a defined objective.

Objectives and Key Results (OKRs) is a goal-setting framework used by product management teams to define and track objectives and their outcomes. It involves setting specific, measurable, achievable, relevant, and time-bound (SMART) objectives and identifying key results that will indicate progress towards achieving those objectives.

Observability in Product Management refers to the ability to measure and understand how a product is being used by customers, including its performance, user behavior, and any issues or errors that arise. This data is used to inform product decisions and improve the overall user experience.

Offshoring is the practice of relocating a company's business process, such as manufacturing or customer support, to a foreign country in order to take advantage of lower labor costs and other economic factors.

OKR (Objectives and Key Results) is a goal-setting framework used by product management teams to define and track objectives and their measurable outcomes, or key results. It helps teams align their efforts towards a common goal and provides a way to measure progress and success.

Onboarding is the process of integrating new users or customers into a product or service, providing them with the necessary information and resources to become familiar with the product and its features.

One-Click Purchase is a feature that allows customers to make a purchase with a single click, without the need to enter their payment and shipping information again.

The OODA Loop is a decision-making framework that stands for Observe, Orient, Decide, and Act. It is used in product management to help teams make quick and effective decisions by continuously gathering information, analyzing it, and adapting to changing circumstances.

Open Innovation is a product management approach that involves collaborating with external parties to generate new ideas, develop products, and bring them to market. It involves sharing knowledge, resources, and risks with partners to create value for all parties involved.

Operational Efficiency refers to the ability of a product or process to operate in a cost-effective manner while maintaining high levels of quality and productivity.

Operational Risk refers to the risk of loss resulting from inadequate or failed internal processes, people, and systems or from external events. It includes risks such as fraud, human error, system failures, and legal and regulatory risks.

Opportunity Assessment is the process of evaluating potential product opportunities to determine their viability and potential impact on the business. It involves analyzing market trends, customer needs, and competitive landscape to identify gaps and opportunities for new or improved products.

Opportunity cost is the potential benefit that is foregone when choosing one option over another. It is the value of the next best alternative that must be given up in order to pursue a certain action.

Opportunity Score is a metric used by product managers to evaluate the potential of a new product or feature by assessing factors such as market size, competition, and customer demand.

Opportunity Scoring is a product management technique used to evaluate and prioritize potential opportunities for a product.

Opportunity Solution Tree is a tool used in product management to map out problems and corresponding solutions in a tree format. It helps in identifying opportunities for product innovation and simplifying complex problem-solving processes.

Opt-In is a process of obtaining consent from a user or customer to receive marketing or promotional messages from a company or organization. It involves the user actively choosing to subscribe or sign up for the communication.

Organizational Alignment in Product Management refers to the process of ensuring that all departments and teams within a company are working towards the same goals and objectives, and that the product roadmap is aligned with the overall business strategy.

Outcome-based Product Management is a product management approach that focuses on achieving specific business outcomes rather than just delivering features or outputs. It involves defining clear goals and metrics, prioritizing features based on their potential impact on those goals, and continuously measuring and iterating to ensure that the product is delivering the desired outcomes.

Outsourcing is the practice of hiring a third-party company or individual to perform tasks or provide services that would traditionally be done in-house. This can include manufacturing, customer service, or software development, among other things.