Product managers make tough decisions about what to build now, what to build later, and what not to build at all. With limited time, money, and talent, prioritization becomes one of their most crucial responsibilities.

Effective prioritization involves:

• Evaluating impact: Assessing how features affect user needs and business goals
• Considering effort: Understanding the resources required for implementation
• Measuring opportunity cost: Recognizing what must be delayed by choosing one path
• Managing dependencies: Identifying which items must come before others
• Balancing short and long-term: Mixing quick wins with strategic investments

Product managers use various frameworks to guide these decisions, such as value vs. effort matrices, RICE scoring (Reach, Impact, Confidence, Effort), or the MoSCoW method (Must-have, Should-have, Could-have, Won't-have). The specific framework matters less than having a consistent, transparent approach.

Beyond feature prioritization, product managers allocate resources to maintenance, technical debt reduction, and innovation exploration. They work with engineering leaders to balance feature development against platform health and stability.