TL;DR<\/strong>: you mostly want to make sure that:<\/p>\n\n\n\n Now let\u2019s break this down.<\/p>\n\n\n\n\n\n Resource optimization is basically using available resources in the most efficient way. In plain English: \u201cStart where you are, use what you have, do what you can.”<\/p>Arthur Ashe<\/a><\/cite><\/blockquote><\/figure>\n\n\n\n But where do you start?<\/p>\n\n\n\n First, let\u2019s define \u201cresources\u201d. In the SaaS world, this refers to anything that helps you deliver your products and services to customers. This may include:<\/p>\n\n\n\n Optimizing those resources means finding a way to use them most efficiently<\/strong>. It\u2019s also about putting your resources towards the most impactful and highest priority projects.<\/p>\n\n\n\n There are many techniques<\/a> when it comes to resource optimization. Here are some techniques you can use to optimize your teams\u2019 time:<\/p>\n\n\n\n Whichever technique you choose, you need to start with the basics. Here\u2019s a quick gameplan:<\/p>\n\n\n\n And now let\u2019s break down each step.<\/p>\n\n\n\n Prioritization is crucial if you want to focus on the most impactful projects. Start by exploring different models and choosing the one that makes the most sense for your team.<\/p>\n\n\n\n There are many models and frameworks<\/a> that you might\u2019ve heard of:<\/p>\n\n\n\n At Canny, we use the weighted scoring method. You can start with a basic method like this and then add a framework like RICE<\/a> on top of it for more detail.<\/p>\n\n\n\n When developing your prioritization formula, you need to decide which factors are most important to your business. That could include:<\/p>\n\n\n\n All of these factors could be important. It depends a lot on your business and its goals. At Canny, we put a huge emphasis on user feedback when prioritizing. We recommend collecting as much feedback as possible. <\/p>\n\n\n\n Prioritizing based on the right factors will give you a good idea of what you should pay attention to.<\/p>\n\n\n\n Smart product teams use feedback management systems to collect feedback from their users. After they\u2019ve gathered feedback, they use it to optimize resources and prioritize projects.<\/p>\n\n\n\n \u201cResource optimization will be critical in 2023. Smart teams are already predicting demand via feedback management.\u201d<\/p>Marc Hardgrove, CEO at Thehoth<\/a><\/cite><\/blockquote><\/figure>\n\n\n\n Managing user feedback is easy with these systems (like Canny). They let you:<\/p>\n\n\n\n What do product managers get from collecting & managing feedback?<\/p>\n\n\n\n \u2713 Improved customer satisfaction<\/p>\n\n\n\n \u2713 Increased team efficiency<\/p>\n\n\n\n \u2713 Better use of resources<\/p>\n\n\n\n \u2713 Smarter prioritization<\/p>\n\n\n\n \u2713 Better alignment across the organization<\/p>\n\n\n\n \u201cMany agile teams are using feedback management to prioritize resources and focus on the most critical tasks and initiatives. By understanding what customers and employees are saying, teams can make data-driven decisions. From there, they can make better resource allocation decisions. They can also ensure that they are being used in the most effective way possible.\u201d<\/p>\nJon Morgan, CEO of VentureSmarter<\/a><\/cite><\/blockquote>\n\n\n\n Keep in mind:<\/strong> automation is all the rage. And with a good tool, you can automate that feedback collection, prioritization, and even portions of project management.<\/p><\/blockquote><\/figure>\n\n\n\n Now let\u2019s look at defining prioritization criteria.<\/p>\n\n\n\n You need to decide what prioritization criteria are most important for your model. They can be unique to each team and project, or could be universal across the board. Check out the list in the earlier section<\/a> for some of the most common ones.<\/p>\n\n\n\n Once you set your criteria, you\u2019ll see which projects are high priority. Here\u2019s the scoring criteria we use at Canny.<\/p>\n\n\n <\/a>And here\u2019s what our roadmap looks like as a result.<\/p>\n\n\n When you start scoring based on your priorities, you\u2019ll be able to dedicate more time to projects that will bring you a greater return. But only after you identify what those projects are.<\/p>\n\n\n\n Then you can stop wasting time (arguably the most valuable resource) on projects that bring little value and focus on the ones that will have the greatest impact.<\/p>\n\n\n\n When it comes to prioritization, a tool like Canny<\/a> can be extremely useful, so check it out!<\/p>\n\n\n\n Before you set product goals, look closely at ideas from your community. If you\u2019re gathering feedback already, your users are probably submitting ideas. You also get input from your teams. And, of course, certain projects come from company-wide goals.<\/p>\n\n\n\n Once you have all that, you need to prioritize those projects (just like we explained in the previous section).<\/p>\n\n\n\n And then you can set product goals, putting emphasis on the highest-impact ideas and projects.<\/p>\n\n\n\n You can\u2019t achieve your desired outcome if you haven\u2019t clarified it from the beginning. So take the time to figure out what you\u2019re trying to achieve with your resources. Break it down into yearly, quarterly and monthly goals.<\/p>\n\n\n\n You might already have some goals set for the year, but look at them from a resource optimization point of view. Turn your attention to prioritizing features to build and the resources you need.<\/p>\n\n\n\n Make sure you:<\/p>\n\n\n\n A SMART goal framework<\/a> is popular for a reason. Go through each letter (specific, measurable, attainable, realistic and timely) and ask yourself \u2013 do my goals match each of these?<\/p>\n\n\n\n Different teams prefer different goal management systems<\/a>. Here are some of the most popular ones<\/a>:<\/p>\n\n\n\n Your resource optimization strategy will really vary depending on your goal. If you\u2019re trying to cut costs, you\u2019ll engage in very different activities versus if you\u2019re looking to expand. It will differ by industry too.<\/p>\n\n\n\n So be honest with yourself and your teammates. Share your goals transparently with the team and make sure that everyone\u2019s on the same page from the start. Then, build a critical path<\/a> to achieve those goals. With the critical path approach, you\u2019ll set clear deadlines, but will also identify some potential flexibility. This is where your product management and project management efforts intersect.<\/p>\n\n\n\n Tip<\/em><\/strong>: use a product mangement tool<\/a> that integrates with your project management system! <\/p>\n\n\n\n Think early on about the resources you need to achieve those goals. Write them out and quantify them. This will help you in the long run.<\/p>\n\n\n\n You’ve now prioritized the projects you could work on within the context of your product goals. Now examine the resources you already have. Do a thorough audit to get a clear picture of your current resource situation. Refer back to all the resources we named above.<\/p>\n\n\n\n You may be surprised here. Chances are, you have much more than you think.<\/p>\n\n\n\n Beyond free tools out there, you\u2019re likely paying for some services that you\u2019re hardly using. No need to make any decisions just yet \u2013 first spend time digging deep into what you already have. You\u2019ll choose what to keep later.<\/p>\n\n\n\n Check your usage patterns across teams. See if one tool can serve multiple purposes. Understand how different tools are connected and work together.<\/p>\n\n\n\n See if any hardware is outdated. You might be losing money on amortization. Investing in new hardware can actually be a cost-saving activity, even though it requires an initial investment.<\/p>\n\n\n\n Everyone loves to talk about productivity. There are countless articles about boosting it, working smarter, increasing efficiency, and so on. But how often do you actually assess it within your team?<\/p>\n\n\n\n This doesn\u2019t have to be about tracking every minute of your employees\u2019 days. No need to micromanage! Instead, look at it from the lens of \u201cwhat can I do to help my teams work smarter and achieve more?\u201d Ask yourself these questions:<\/p>\n\n\n\n Do your best to understand the requirements of your project based on each function.<\/p>\n\n\n\n Often, this goes hand in hand with the tools (from the previous section). Is your current tech stack empowering or limiting your team? If you don\u2019t know, the best way to find out is to ask (more on that later).<\/p>\n\n\n\n In general, try to assess if anyone is overworked. Take the load off of them. And see who\u2019s available for new projects. If you\u2019ve gone through layoffs in your organization recently (like many have), your people resources could be stretched especially thin.<\/p>\n\n\n\n You\u2019ve identified the most important projects. Now line them up with the available resources. Is there a gap? Do you see a potential issue with meeting the deadline?<\/p>\n\n\n\n Consider outsourcing certain projects. Or prioritizing hiring for certain roles that are vital for your organization\u2019s success.<\/p>\n\n\n\n Now it\u2019s time to dig deeper into those resource usage metrics from the \u201cEvaluate what you have (resources)\u201d section:<\/p>\n\n\n\n The last point is very common. Let\u2019s say that one team loves Google Drive and keeps all of their files there. And another team prefers Dropbox. So you end up paying for two services that essentially provide the exact same service \u2013 data storage. Here\u2019s an easy resource optimization idea \u2013 eliminate this duplicated service.<\/p>\n\n\n\n Now\u2019s the time to make some changes. <\/p>\n\n\n\n Some things might not be working for you, not serving your team, and not helping you reach your goals. Maybe you found some tools that you can remove.<\/p>\n\n\n\n Perhaps there\u2019s a scheduled project that really isn\u2019t a huge priority.<\/p>\n\n\n\n Maybe you could free up your team\u2019s time by getting a new tool.<\/p>\n\n\n\n Also, make sure you understand your human resources and how they align with your projects. Here\u2019s how to do that and more.<\/p>\n\n\n\n Here are some ideas from Shawn Rubel, founder and CEO of Vecteezy<\/a>:<\/p>\n\n\n\n \u201cProcess<\/strong><\/p>\n\n\n\n Our managers have a series of communication and meeting rhythms. This helps to avoid wasting time and optimize workload as best we can. Every Monday, Wednesday, and Friday we have a morning Huddle that lasts about 15 min. Each manager gives a quick update on critical tasks. This also gives an opportunity for anyone to discuss any constraint, capacity, or ask for help. We’re staying on top of project management this way.<\/p>\n\n\n\n Cash<\/strong><\/p>\n\n\n\n Once a month, my two business partners and I meet with our finance team to discuss the previous month’s financials and the upcoming cash on hand for the next 3-6 months. We decide on any changes or investments that need to be made and make a plan for the next meeting date.<\/p>\n\n\n\n People<\/strong><\/p>\n\n\n\n Our people are the #1 resource we have. We are currently a team of 91. In terms of optimizing them, we use a “Start, Stop, Keep” framework with their managers to talk about what they need to start doing, stop doing, and keep doing. This helps them increase efficiency, improve productivity and process to ensure they’re working on the right task.\u201d<\/p>\n\n\n\n Jon Morgan, CEO of VentureSmarter, also focuses heavily on his team and their internal feedback.<\/p>\n\n\n\n \u201cGather regular feedback not just from customers, but also from the employees. They can really help you identify where resources are getting wasted. For example, some employees could be consistently reporting that a particular process is taking up too much time. You can then brainstorm ways to improve and streamline that process.\u201d<\/p>\nJon Morgan, CEO of VentureSmarter<\/cite><\/blockquote>\n\n\n\n In short, assess your prioritization criteria and usage patterns from the previous steps. Then, see how you\u2019re currently using your resources. Is this the most effective way? If not, move some resources over to the more impactful projects<\/strong>.<\/p>\n\n\n\n You\u2019ve identified usage patterns. You see the gaps. And maybe your team even told you what\u2019s working and what isn\u2019t. Now it\u2019s time to take action.<\/p>\n\n\n\n Outline some ideas to improve usage. For example:<\/p>\n\n\n\n The most impactful changes will come from improving your employees\u2019 efficiency.<\/p>\n\n\n\n Help your people become more productive. Cancel unnecessary meetings, equip them with whatever they need, give them projects they actually enjoy, and make sure they have enough time to complete them. Assess how many people each project needs and don\u2019t compromise on that. Make sure they’re working on the highest priority projects.<\/p>\n\n\n\n Try not to force your teams to use \u200ctools they don\u2019t like either. This happens often. You might\u2019ve gotten a great deal on a particular resource (a certain tool, for example). Or maybe you even got it for free as a package deal! But, if your team hates it, there\u2019s no point in keeping it.<\/p>\n\n\n\n You might think that this is indeed \u201cresource optimization\u201d. Because you\u2019re saving money, right?<\/p>\n\n\n\n But you\u2019re sacrificing other resources \u2013 time and people. If that tool isn\u2019t efficient, makes your teams waste money, and irritates them, this is definitely not a good idea.<\/p>\n\n\n\n Understanding what resources you have and how they\u2019re being used is critical, especially in uncertain times. Perhaps some of them are underutilized. And others are stretched thin.<\/p>\n\n\n\n The most important outcome is this: prioritize the most impactful projects. You can figure out what those are with the help of feedback, prioritization frameworks, clear goal setting, proper resource allocation, and more. Tools like Canny<\/a> can help you prioritize what\u2019s most important. Start tracking feedback and prioritizing for free \u2013 give Canny a try<\/a>!<\/p>\n\n\n\n <\/p>\n\n\n\n\n
What\u2019s resource optimization?<\/strong><\/h2>\n\n\n\n
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![\"\"](\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2023\/02\/resources.avif\")
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![\"\"](\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2023\/02\/prioritization.avif\")
<\/figure>\n\n\n\nPriorization \u2013 the foundation of resource optimization<\/h2>\n\n\n\n
Prioritization models<\/h3>\n\n\n\n
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![\"\"](\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2023\/02\/image-1.png\")
Factors that maximize impact<\/h3>\n\n\n\n
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User feedback<\/h4>\n\n\n\n
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Typical prioritization criteria<\/h3>\n\n\n\n
![\"\"](\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2023\/02\/image.avif\")
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<\/figure>\n<\/div>\n\n\nSet & adjust product goals<\/strong><\/h2>\n\n\n\n
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![\"SMART](\"https:\/\/canny.io\/blog\/wp-content\/uploads\/2023\/02\/smart-graphic.avif\")
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Evaluate what you have (resources)<\/strong><\/h2>\n\n\n\n
Non-human: hardware, software, tools and storage<\/h3>\n\n\n\n
Human: people and bandwidth<\/h3>\n\n\n\n
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Understand resource usage<\/strong><\/h2>\n\n\n\n
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Reallocate<\/strong><\/h2>\n\n\n\n
Tips for reallocating resources<\/h3>\n\n\n\n
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Improve usage<\/h3>\n\n\n\n
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Maximize your team\u2019s time<\/h3>\n\n\n\n
Streamline operations through resource optimization<\/strong><\/h2>\n\n\n\n
![\"New](\"https:\/\/no-cache.hubspot.com\/cta\/default\/5705808\/e1d55d08-a2cf-44a3-a9a0-f3ca5ff21dfa.png\")
<\/a><\/span>