Q1. For example, if you have 100 sign-ups within your designated time frame, but only 50 of them are active, your product adoption rate would be 50%. In order to support these city-wide objectives, the Wonder City Transportation Authority (WCTA) will be launching five new bus lines. Select all that apply. Outcome-based measures such as customer satisfaction, market share, category ownership, and new product adoption rate fall into the non-financial metrics . Q5. However, its common to lose a customer here and there. Then youll want to count the days between when that user became a customer and when they performed the particular action youre measuring. What level of engagement should the team have with the stakeholder? The deliverable to present your projects pre-launch event at a three-day, in-person conference is now an online conference. You need to align with the clients Vice President (VP) of Design, Ria. During these meetings, you organized your thoughts by writing down project key components that the stakeholders have requested. Templates like this one will be useful as you put together a portfolio of project management artifacts. The project sponsor plays a vital leadership role, which always includes funding the project. The consent submitted will only be used for data processing originating from this website. There are a dozen deliverables and over 100 tasks. Whats a strategy that could help avoid this internal scope creep? Using the right metrics can help you keep tabs on where you are now, where you're doing well with customers and how you need to improve. Challenges, Example (2023), How to Conduct a Cohort Analysis (Types, Tools). Traditional project management relies on using a body of metrics that has been proven effective--through years of use--in tracking and reporting a project's progress. Replace Task/Deliverable with the name of each task. Replace Task/Deliverable with the name of each task. What key s should you consider when deciding who should be informed about a task? Add the six tasks from the scenario to your RACI chart template under the Task/Deliverable heading. Update the Role headers with each team member role from the scenario. On the other hand, if your retention rate is low, its likely an indication that customers are unhappy or a competitor is offering a better service. How will you quantify if you're landing a project at its intended goal? What is it called when a project manager involves stakeholders in decision-making to reach a broader consensus? Consider the following scenario: The Director of Product requests the project manager to add a new product feature. Be sure to address the following elements in your completed RACI chart: Q1. Which of the following activities are steps in a stakeholder analysis? List all the stakeholders the project impacts, find ways to involve them, and determine their level of interest and influence. 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. Submersible pump. Task Success. Learn more about driving digital adoption for your organization. Adoption is generally a one-time occurrence. There's significant turnover in the project management field. This exam page is currently offline, we already know about this and there is no need to contact us regarding this matter. As a project manager, youre using the SMART criteria to craft goals for your team. Question 3 First, identify the stakeholders from the Office Green scenario (e.g., Director of Product, Landscape Designer/Web Designer, etc.) You can measure active users as an absolute count of users or as a percentage, but if you express it as a percentage, make sure you divide by the number of potential users, not your entire employee count. Ready to start measuring product and user adoption KPIs? Because the project manager doesnt have all the projects details, they ask a current team member to onboard the new team member. In 1-2 sentences, describe how you can use the tool. This will give you an idea of how many engaged customers are taking advantage of a particular feature youre offering. Instead, focus on metrics that help you assess if the adoption is fulfilling your expectations or falling short of them. 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). You are asked to manage an 8-week project for $800,000 USD. High-interest, high-power stakeholders should go toward the upper-right corner. They dont expect to be in production for one week, delaying the project timeline. You meet with stakeholders to decide how to measure project success. Pinterest, [emailprotected] Here are the top metrics to track. All values of the month shown on the top section of the report refer to the latest complete month. For example, a new user signs up for your product, and you count that individual towards your acquisition rate. Which of the following product layers might include a warranty, credit, You and your team need to maintain trust and generate buy-in from your stakeholders. Select all that apply. Which of the following is true of someone who is accountable in a RACI chart? VPN to ZTNA. Q6. Setting your product adoption benchmark to be a behavior beyond just signing up helps you track clients getting real value from your product. If you only tracked surface-level metrics like sign-ups or acquisitions, you might be missing key information about how engaged your users are. Objectives define what needs to be achieved and describe a desired outcome, while key results define how you will measure that outcome. The column Optional indicates, when appropriate, the year when the use of the metric system became optional in that country. They would like to review a detailed breakdown of costs. Q8. Use this Scoring Model | Adoption & Compliance Metrics - Rego Consulting Who is invested in task completion, but not directly involved in the work? Q8. As the project manager, you will set OKRs to help clarify the project goals and define what needs to be done in order to deliver a successful project. Youll make decisions aligned with your audiences long-term needs, so you can build sustainable relationships that help your company grow and scale. Completing a stakeholder analysis and power grid allows you to determine each stakeholders influence and potential impact on a project, which is crucial to managing communications and expectations. Which SMART criteria does this represent? List at least two productivity and collaboration tools to achieve tasks and better communicate with the team and stakeholders. How will you quantify if youre landing a project at its intended goal? You can also create project-level OKRs to help motivate your team. 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. (can only be one answer) Number of followers Number of comments Number of impressions None of the above. These templates will be useful as you put together a portfolio of project management artifacts. Underserved or unhappy users might fly under your radar and move on to a competitor before you realize theyre not engaged. Which key component is the project deliverable? Engagement is an internal metric. Each tab displays one or more of the Project or Resource Adoption Metrics. Which of the following are examples of success criteria? You can learn more about the graded and practice items in the Course Overview. In the first article, I presented the intuition behind A/B testing and the importance of establishing the magnitude of the effect you hope to observe and corresponding sample size.. Fill in the blank: Since the project manager uses the project charter throughout the project, it acts like a _____ for the project. We will consider the following metrics: Top countries in crypto ownership. Adoption replaces a business metric. You estimate it will cost $5,000 up front. Which two of the following are adoption metrics? only geniuses can understand each other film January 24, 2023 0 comment www.examtopics.com. For this exercise, you will read a scenario and describe tools you should use for the project. Adoption is an external metric. If users take a particularly long time to engage with a specific feature, it could indicate that theyre uninterested in that functionality or that theyre not sure how to use it (or, in some cases, that it is even available to them in the first place). Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Software metrics are important for many reasons, including measuring software performance, planning work items, measuring productivity, and many other uses. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. Although they might still be considered a user, they havent adopted the product because theyre not using it. On the other hand, a short time-to-first action can help you identify the features that are most beneficial to your users. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. You can place stakeholders anywhere on the power grideven between quadrants. Q2. Q5. Replace Role A with Director of Product, and so on. Adoption is an external metric. CLV gives a long-term view of the value customers provides your business. Measuring product and user adoption give you deeper insight into how you connect with your customers and audience. The easiest way to track and measure your onboarding completion rate is with a tool that offers. Remember that only one person should be accountable for each task or deliverable. Are you ready? Manage Settings The company hires outside evaluators to review the project. A _____ is a body of clients that is large enough to attract many other clients. Measuring user adoption. This is part 3 in a series of - Medium In the same example above, your retention rate would be 80%. Useful things to track might include: The adoption formula is: Number of Adopted Users Total Number Of Users If you have 1000 users and 250 of them have adopted your product, your adoption rate is 25%. Then indicate high (H), medium (M), or low (L) in the Interest column. They also need to visually represent the teams day-to-day tasks. Send out feedback surveys to team members, Ask the clients if theyre happy with the result. Select metrics to track. With Whatfix, product teams can create in-app NPS prompts as well as other, targeted, in-app user survey prompts with no development support, to collect feedback in real-time. This paper examines a . is the percentage of customers who remain customers during a specific period. An outcome is a metric that measures the impact of your work. Even if youre replacing those customers who left, if your churn rate is too high, it will become nearly impossible to grow at a sustainable rate. 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. The table lists information on each stakeholders role, resources, potential resistance, and engagement. Five agile metrics you won't hate | Atlassian 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.. A product's performance in the marketplace. Q6. The project needs to be completed within two years. Adoption vs engagement metrics: wondering what the difference is? Box A in upper left (high power, low interest); Box B in the upper right (high power, high interest); Box C in the lower left (low power, low interest); Box D in the lower right (low power, high interest). As a project manager, you're using the SMART criteria to craft goals for your team. Step 1: Place stakeholders in the power grid. A. Common financial metrics include earnings, profit margin, average order value, and return on assets. Which two of the following are examples of success criteria? They reach value when they start to see a return on their investment. is building and maintaining a trusted relationship. These metrics can be used to track both technical capabilities and team processes. The following are the product adoption Metrics that differentiate adoption from engagement. Engagement is ongoing. Limit communication outside the team once the project begins. You will not be able to access the exemplar until you have completed this activity. In 1-2 sentences, describe how you can use the tool. What steps should you take? 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. The User Adoption Metrics That Matter for Your Customer Success Team Its easy to get excited about large purchases or long-term customers, but until you compare the amount of revenue theyre bringing in with the costs associated with them as a client, its hard to tell if youre actually growing your business or just treading water (or even losing money). Customer retention is the percentage of customers who remain customers during a specific period. refers to the number of customers or users who stop using your product or platform during a specified time period. 7 Agile Metrics That Matter For Successful Project Management - Arkenea None of the above. which of the following is an adoption metric? Then record each stakeholders level of power or influence as high (H), medium (M), or low (L) in the Power or Influence column. Step 5: Determine the impact on your stakeholders. To find your NPS, youll need to survey users with the following question: How likely would you recommend [brand] to a friend or colleague? 4 Adoption Metrics You Should Know for UC Tech in 2019 - Vyopta Finally, be sure to save a blank copy of the OKR template you used to complete this activity. Select all that apply. 12 product adoption metrics to track for success | Appcues Blog It gives informed data on how effective organization's maintenance processes is running based on factors like equipment quality, performance, and availability. Adoption Rate Adoption rate is the most basic metric of adoption, but it's a useful baseline number to have in your back pocket. Read this article to find out it and drive adoption and engagement in your SaaS product. The manufacturer of one of the project deliverables just lost power after a large storm. 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. Resistance Bands Fitness Workouts. Q6. which of the following is an adoption metric? What's a main difference between the adoption and engagement metrics? What does the acronym RACI stand for? which of the following is an adoption metric? Q2. You also estimate costs of $50 per month for the first 12 months, which equals $600 per year. Danh mc . Which type of tool would be best to use to meet the project sponsors request? Question 8) What's a main difference between the adoption and engagement metrics? Your notes on the key components are: The next step in the project is to organize the key components into a project charter. TechnipFMC: Is The Stock Attractive At A 52-Week High? As a project manager, you need to determine how best to communicate with stakeholders across the company. attendance, school lunch payments), Overall, the school is seeking a platform for digital grading. Q1. Luckily, you have a team of five teammates to work on this project together! which of the following is an adoption metric? 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. Potential objectives for Project Move It: Or, if you prefer, you may draft your own objective based on the scenario. The table includes all five stakeholders and groups from the scenario. Number of customer sign-ups for a subscription. 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. Q8. Learn more about insights. Fill in the blank: In addition to a job title, many companies list project management as a desired _____. This means when you look at the average effort variance across your projects, which is a standard out-of-the-box metric with CA PPM (formerly CA Clarity), you'll feel confident in the data. Q3. They are considered project resources. Continue with Recommended Cookies. Moment: How to Find It, Examples, UX Tips, How to Announce New Features to Drive Adoption (+Checklist), 11 Must-Track SaaS Customer Success Metrics (+Measuring Them), 12 Must-Track Customer Retention Metrics for Growth (2023), 13 Best Onboarding Flow Examples for New Users (2023), What Is Feature Discovery? Make note of these activities and assets in the Involvement column. the most common User Engagement Metrics, like DAU, WAU, MAU, the DAU/MAU Ratio, Day 1, Day 7, & Day 30 User Retention. Q2. Project management is a relatively new job title. Customer lifetime value (CLV) represents a customers total business value during their relationship with your brand. _____ refers to an organization's initiative of adding to a product or service to increase its value to the consumer. For Schneider Electric, that business metric was to increase the adoption rate of new . What is the correct order of tasks in a stakeholder analysis? Ultimately . User Engagement leads to Retention, so if you want a strategy for Customer Retention, go here. Job growth is also expected to increase by 48%. Select all that apply. The User Adoption Metrics That Matter for Your Customer Success Team which of the following is an adoption metric? Fill in the blank: If a project has a _____, then it may be worth the teams time to learn a more sophisticated tool. Work with stakeholders on the prioritization and documentation before building a new product. We and our partners use cookies to Store and/or access information on a device. Select all that apply. The CES is the summation of all the total event values. Product adoption rate is the number of users who adopt your software compared to the total number of signups or new users within a specific timeframe. This often goes hand-in-hand with DAU or MAU but looks at individual accounts instead of your user base as a whole. 3. 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 . Which of the following scenarios best represents a project that is going out-of-scope? enhancement of existing products or services. A stakeholder talks with two different team members and receives conflicting information on a vendor. This can be expressed as a direct proportion (for example, 9/10 or 0.9) or as a percentage (for example, 90%). As an example, lets return to the objective, Successfully launch version 2.0 of our early learning app. If you knew that a successful launch meant getting new users to download the app, you could create any of the following key results for the objective: Remember: OKRs are never set in stonethey can and should be revised as you make progress, so its okay if you need to adjust your key results later on. as well as tripwire metrics and a testing strategy to improve user engagement. 14-Option 2nd (Relative Pull) explanation- Relative Pull is not an adoption and advocacy metric because it is an Online Advertising Metric. which of the following is an adoption metric? houses for rent in longmeadow, ma. The table lists each stakeholders level of interest as low, medium, or high. ExamTopics doesn't offer Real Microsoft Exam Questions. Select all that apply. Fill in the blank: Objectives and Key Results (OKRs) combine both a goal and a _______ to determine a measurable outcome. which of the following is an adoption metric? It goes a step further than just acquisition to encompass activated and retained users. As a project manager, youre prioritizing stakeholders with a power grid. In this example, 50% of your sign-ups have not been active and are likely to end their relationship with you. which of the following is an adoption metric? Fill in the blank: If the project has a _____, then it may be worth it for the team to learn a more sophisticated project management tool. Select from the following options when determining project roles: Step 4: Determine stakeholder involvement. How much influence does each stakeholder have over the project? Consider your power or influence ratings from the stakeholder analysis. What step could the company have taken to avoid scope creep? Which of the following people are likely to be primary stakeholders in a project? Correct A 35% increase of first-time customers. What two s can a project manager ask to determine a projects costs? Does the key result help define success for your team? A designer on your project team suggests making changes to the products logo just prior to launch. Q4. Collaboration tools such as email or chat allow teams to do what tasks? You can use it for further practice or in your own personal or professional projects. Does the project sponsor fund the project? Adoption of the Decimal Metric System of Weights and Measures by - USMA 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. Step 2: Determine how to engage with stakeholders. Q5. opolo winery lunch menu Write down each team members role in the Role column. UK Lunchtime Results which of the following is an adoption metric? Suppose that as a project manager, you speak with stakeholders to determine which tasks the team should complete first. By . Q5. The project charter ensures everyone is aligned before planning and then executing the project. Q6. Once your value behavior is set, simply count the days between becoming a customer and reaching value to find time to value. The adoption phase is your opportunity to nurture your customer relationship and establish a recurring revenue cycle driven by a commitment to customer growth. Metrics for Measuring Change Management - Prosci Active users tell you how many users are engaging with your platform or service within a specific time period (in this case, daily or monthly). Consider the information you added to the Involvement and Impact columns. Imagine youre the project manager of a new grocery delivery service. Users' ability to realize a product's value. Take a team vote to decide if the team should add the new feature to the product. Subscribe to the Digital Adoption Insider now! which of the following is an adoption metric? Ignore the requests because the project is already underway. Replace Role A with Web Manager, and so on. Engagement compliments other business metrics. This article is the 3rd one in my series of articles about A/B Testing. Determine each stakeholders level of interest and influence, list all the stakeholders the project impacts, and find ways to involve them. 11 Must-Track Product & User Adoption Metrics (2023) - Whatfix Find ways to involve each stakeholder, list all the stakeholders the project impacts, and determine their level of interest and influence. Which of the following scenarios would occur in the landing phase? What is the purpose of a stakeholder analysis?

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