What is a product value? Product value is the benefit that the client gets when buying a particular product. The more benefits the clients receive, the more money they are willing to pay for the product, enabling product developers to keep a competitive edge. If you want your product to stay continuously in demand, you have to think about maximizing its value. Customer preferences are changing too quickly.

Companies can no longer depend on extensive planning around product enhancement. They want efficient and effective methods. Today, Scrum is one of the most popular and most efficient frameworks that help companies consistently add value to their products. Let’s take a bit of a closer look at how Scrum processes work.

Scrum Processes & Roles

The scrum team represents the main unit of the Scrum framework. Designed with teamwork in mind, Scrum incorporates a system of roles, events, and artifacts. The three main roles in the Scrum team are:  Product Owner, Scrum Master, and Developers. 

• Scrum Product Owners play a special role. They know what needs to be done and are responsible for handling everything that is required to maximize the value of the product. Product Owners create an overall list of tasks and activities (Product Backlog) which they deem a priority for product development. “What do I do today and tomorrow to generate more product value?” is the main question that the product owners ask themselves daily.  
• Scrum Master has a deep understanding of how Scrum works. Therefore, the primary responsibility of the Scrum Master is to ensure that the whole team grasps the importance of Scrum and adheres to its practices and values.  At the same time, the master can facilitate the space for the whole team to share their ideas and enhance their practices for product value maximization, reminding them of the time limit and the budget with which the team is expected to work. 
• Developers are a mix of professionals responsible for their specific tasks which contribute to the overall product development. All members of the development team use their expertise as well as hold each other accountable to ensure an efficient and effective workflow. To put it simply, developers do a lot in a short period. 

What is needed for Scrum execution?

For workflow visibility and efficiency, the Scrum framework is typically supported by a virtual Scrum Board on various planning platforms. Often created and handled by the Product Owner, the board is used to define the stages that the product development tasks will go through and get an overview of the current status of the tasks. 

To ensure that the work of the Scrum team is kept on track with full openness and transparency, the Scrum framework is realized through several events:  Sprint, Sprint Planning, Daily Scrum, Sprint Review, and Sprint Retrospective. 

• Sprint is a fixed-time segment that the team dedicates to a particular number of specific tasks and activities selected from the overall list of tasks and activities.  Sprints are typically short and may last anywhere between a couple of weeks to one month. Sprints are not simply a structured way to implement tasks. Every Sprint is based on the critical idea that the team creates a particular deliverable to increase product value. 
• Sprint Planning – an event that kick starts each Sprint. The whole Scrum team discusses which tasks to be completed during the Spring.  The Product Owner’s responsibility here is to prioritize the tasks, identifying their complexities. 
• Daily Scrum is run by the developers. Lasting no longer than 15 minutes, Daily Scrum lets each member of the team inform others about his or her progress. 
• Sprint Review provides the space for the Product Owner and the rest of the team to demonstrate Sprint results to the interested parties. 
• Sprint Retrospective is held by the team at the end of each Sprint as a space for reflection. More specifically, the team can discuss different aspects of the Sprint, including communication between team members, work challenges, and particular achievements.  Conducted as a collaborative effort, this event allows the team to recap on the importance of their professional contributions as well as to pinpoint what needs to be done to improve the process of the future Sprints.   

Scrum Framework Artifacts   

Scrum artifacts are a very significant aspect of the scrum framework. They are designed to provide clarity around product development tasks, enhancing team members’ understanding of the projects’ overall structure. Scrum includes the following artifacts: Product Backlog, Sprint Backlog, and Increment. 

The Product Backlog is essentially a list of all tasks and activities which need to be carried out to develop and refine a product and to finish a project.  

Sprint Backlog includes only those tasks and activities which Scrum team targets to carry out during one Sprint. These tasks and activities are selected from the Product Backlog. 

Increments represent a concrete and usable deliverable of the Sprint. The whole team must agree on the completeness and the usability of the Sprint result.     

Scrum is a highly balanced and holistic framework. Every role, task, and artifact is highly significant and realizes a particular goal. Proper application of Scrum processes leads to effective and efficient team performance and better than expected results concerning product value maximization.

Companies that work on product development and seek partnerships to contribute to their goals, should always consider collaborating with teams that use frameworks such as Scrum to efficiently enhance products and their market performance.  As a company, you want bigger and better sales.  This is only possible when your partners prioritize you and your product value.  Remember, the Scrum framework is easy to understand but hard to implement. With years of experience in Scrum processes and product development,  Precision Code Studios can help you in this journey.