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Add cost plan to product management ie cost of an idea, cost of a feature, and potential revenue.

Add cost plan to product management ie cost of an idea, cost of a feature, and potential revenue. Product managers usually have to work on investment case if cost is X then X makes Y return of investment.

4 comments

A real product manager doesn't really care about the money, they should be all about the experience for the people using your stuff.

But, there is, of course, some overlap - you don't want your product managers taking your product in a direction that your users are not going to like.

Jira, like most other issue-trackers, is not going to be able to tell you about your cost vs revenue, it's an issue tracker, not software built to guess what your users might be thinking.  Atlassian want it to be an Agile tool, and worrying about money is absolutely not Agile.

But there are a lot of good apps you can add to it to do financial tracking - the integrations with Salesforce and Hubspot are pretty good, and adding Tempo's financial stuff works really well for a lot of our clients (I'm an Adaptavist and a Consultant so a) apps can help and b) Scriptrunner FTW of course, but it's not really what you need here)

How about using the Effort field for some sort of cost representative, and the Score field for a revenue representative, and create a matrix view that shows the connection between the two, looking for high score, low effort ideas?

You can of course create your own custom Cost and Revenue fields, I am just not sure it is worth going into that much detail, calculating the "exact" cost and expected revenue at this stage.

@Michael Quan it's not generally something we'd recommend - if you take into account the fact that many projects fail to deliver the value they set out to achieve and for the others it's always going to take more iterations than what you can plan, it often makes cost forecasts and revenue projections not super accurate/useful.

However if you found a way to use that in your process successfully, you could always create fields to represent that - the system is entirely flexible for you to do that: Cost and Revenue could be a select field (e.g. T-shirt size: S/M/L/XL) or rating field (1-100), or number field (so you can type a number there).

To do that, on the top of each view you have a "Fields" menu. In there you can click on "Create a field"

Hi @Tanguy Crusson !

Having 2 fields, one for example of a Priority Vote where everybody can vote from 1-5 and another named Consensual Priority as a weighted formula for the first, how should I put the formula for the second? How do you recommend to do this "agreed value" as the average of all the Priority Vote values?

Many thanks!

@Luis we don't yet support a field type where multiple people can vote 1-5 for the same idea. instead we have a "vote" field where you can give everyone a budget (e.g. 10 votes) to allocate across a list of ideas. 

"if you had $10, where would you spend it?"

Fields > create a field > field type: Vote

Then you can just see the total number of votes and sort by that, see where people agree and where they don't, discuss that further, etc.

if you want you can create another field of type Formula > Weighted score taking the first one as an input, and it will give each idea a value between 0 and 100 based on the number of votes

Like Luis likes this
iryna_k_SaaSJet_ Marketplace Partner Dec 12, 2022

Hello, @Michael Quan !

My team recently released Cost Tracker for Jira Cloud . It's easy Jira cost tracking tool to track project or company costs based on the timesheet and direct expenses.

For now. in add-on you can:

  • Manage employee’s hourly rates its history.
  • Manage company direct expenses.
  • Add one-time and recurring expenses.
  • Generate the cost report as timesheet multiplied by rates
  • Generate report of direct expenses for the specific period.
  • Get issue cost on the widget.

Hope it will help you!

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