Product Owner explained in 15 minutes

Lately, I’ve seen more and more comments that Scrum doesn’t support Product Management to well. I’m not sure why. Product Management is not that difficult to understand, although it can be very hard work.

I’m not a big fan anymore of Scrum as a holistic collaboration framework. The first version of the scrum guide is a good collaboration guide for complex software development. And as the name suggests, it is a guide, not a law.

That being said, the following video by Henrik Kniberg at least explains the basics of Product Ownership very, very well, especially when it relates to the development team and what a PO or PM for that matter does and does not do.

Watch and learn!

Hurry when you have time, so you have time when you need to hurry

🪖 The first time I heard this was during my 2-weeks basic training in the National Reserves. And it hit home. Not because it is super profound or anything, just because of the simplicity of it and its practical use in every aspect of your life.

🫡 During basic training we usually got orders like:

“You have to clean your gun, have lunch, chance clothes, clean your desk and everything is done in 50 minutes time. A good soldier can do this in 40 min, so you have 10 minutes to relax.”

That usually meant this as a reaction, “I’m a good soldier! I can relax now for 10 minutes and be finished on time”

🚨 WRONG (most of the times). Something always happens!

  • Your gun is dirtier than expected
  • Lunch comes 10 minutes late
  • You cannot find the second clean sock
  • There’s a stain that just won’t go away

🧘 The ones that started working on their chores immediately, usually got 5 min to relax after everything was done. Because they had time when they needed to hurry

😰 The ones that started relaxing, usually were late, had more stress at the end, making mistakes, or didn’t finish a chore, meaning more work! And more work in the Army isn’t always fun…

The simple truth about scaling fraud management

Fraud detection doesn’t scale, fraud prevention does. It’s not complex, so let’s make it simple.


Risk in general and fraud risk as well, consists of 2 parts and is usually represented with a simple formula:

Risk = Chance x Impact

Fraud detection is all about reducing the impact of fraud. That means fraud already happened. You detect fraud, preferably as early as possible, so the financial 💸 and/or reputational damage is minimised.

Fraud prevention is all about reducing the chance of fraud. Fraud didn’t actually happen yet, but you are doing everything you can to prevent fraud. You want to know who or what you are dealing with before a final transaction happens (#kyc etc.)

Scaling Fraud management

Let’s say you want to grow as a business (that’s a choice by the way) and let’s say you want to double your revenue by doubling the amount or orders. If you keep your fraud management at the same level (both prevention and detection) the amount of fraud will also double. That means your fraud operations (detection) needs to double as well, including customer support, dealing with the police 👮‍♀️ etc, and so on. Furthermore, if you make your detection even better by innovating, you will probably find even more fraud. That means, at least temporarily, the damages grow 📈 even more percentage wise. So, although you can do fraud detection smarter, scaling is hard.

Fraud prevention does scale. When you put more innovation effort on how to prevent fraud from happening, you make sure the chance of fraud is lower. And as a consequence, the need for fraud detection lowers as well in the long run. The more you prevent, the less you need to detect. 

⚖️ We all know this is a 🐈 and 🐁 game, so you cannot only do one thing. Both prevention and detection need to be on par, especially because detection can give learnings for your prevention efforts. But, if you want to scale fraud management, double down on prevention.

#innovation #management #fraud #fraudprevention #frauddetection #kyc