About the Bang for the Buck template
What is Bang for the Buck?
Bang for the Buck is a strategy for facilitating collaboration between the product manager and development teams. The goal is to prioritize backlog items. Rather than moving through your agenda without prioritizing what needs to get done, the Bang for the Buck model empowers you to identify the costs and benefits associated with various tasks. You can then assign scores to each task based on the “bang for your buck” you can expect to get from the task. With your scores in hand, you can then organize your tasks based on the order in which you can complete them. Finally, graph each task according to cost and value so you can start checking things off of your to-do list.
How does the Bang for the Buck work?
The Bang for the Buck model consists of a graph with the value of your items on the y-axis and the cost on the x-axis. Each axis is organized as a Fibonacci number. Write down the tasks on your backlog. With your teammates, discuss where each item belongs on the graph. The product manager’s job is to focus on the value of the task, while the development team should focus on the cost of the task. These various stakeholders allow you to get multiple perspectives on your tasks. When your graph is finished, you can follow your graphed items in a clockwise order to maximize efficiency.
How do you use the Bang for the Buck template?
Team members can create sticky notes to represent the tasks they have for an upcoming sprint. You can color-code the notes to make it easy to keep track of which tasks belong to which person. Invite your team members to collaborate on the board, using the @mention features and video chat to discuss items in more detail. Any changes made to the board will be visible in real-time.
Bang for Buck FAQs
Who should use the Bang for the Buck template?
Any team that follows the sprint workflow can use the Bang for the Buck template to prioritize tasks for an upcoming sprint. The team may work together to decide on the values for different tasks, with input from the product manager to ensure tasks are assigned the correct value.
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