Addressing Technology Gaps: Build, Buy, or Partner?

Introduction

In the dynamic world of product management, navigating technology gaps is a crucial skill. These decisions can significantly impact your product roadmap and the company’s strategic direction. For aspiring PMs, demonstrating the ability to choose between building, buying, or partnering is essential, especially in FAANG interviews. This guide explores the “build vs. buy vs. partner” framework and how to apply it effectively.

Detailed Guide on Framework Application

The RICE Prioritization Framework

The RICE Prioritization Framework (Reach, Impact, Confidence, Effort) helps quantify and compare different options. Let’s break down the steps:

• Reach: Estimate how many users or what percentage of the business each option (build, buy, or partner) will affect within a specific timeframe.
• Impact: Assess the potential impact on your product or company’s main success metrics for each option.
• Confidence: Evaluate how confident you are in your estimates and the likelihood of success for each option.
• Effort: Consider the amount of work required for each option, including time, resources, and cost.

Example

Imagine your company needs a new analytics feature. Building it might reach 100% of your users, but the effort is high, and confidence in meeting deadlines is low. Buying could reach a broad audience quickly, with less effort but higher immediate cost. Partnering might offer a middle ground, with shared effort and costs, but potentially reduced impact and control.

Communicating Your Choice

When communicating your choice during the interview, clearly state your assumptions and back them up with industry standards or experiences. For example, you may not know the exact cost of buying a solution, but you can compare it with typical market rates for similar tools.

Conclusion

Product management candidates must be prepared to tackle strategic build vs. buy vs. partnership decisions during interviews. By employing a quantifiable approach like the RICE Framework, you can present a well-thought-out argument that reflects your ability to balance reach, impact, confidence, and effort. Constantly practicing these frameworks on different types of decisions will hone your skills and improve your performance in product management interviews at FAANG companies and beyond.

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