A guide to understanding the order of magnitude

Product managers are tasked with identifying and prioritizing problems to solve for both the business and users, using various tools such as user interviews and analytics. As they progress in their careers, they develop the ability to estimate the order of magnitude of potential issues, which is crucial for determining which problems to address first to maximize impact. This estimation involves gauging the relative size or potential impact of a project without precise data, often using frameworks like T-shirt sizing or Fibonacci points. By focusing on order of magnitude rather than exact values, product managers can efficiently allocate resources, avoid overcommitting to minor issues, and align with organizational goals. This approach helps ensure that projects with the highest potential impact are prioritized, enabling teams to learn and iterate more effectively. Understanding and effectively communicating these estimates to stakeholders is vital, especially given the dynamic nature of product development and shifting business priorities.