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Brandon Green
Director of Product, Fulfillment, ezCater | Formerly Wayfair, Abstract, CustomMade, SonicbidsAugust 17

A PM's job is to take in a lot of inputs (including the 3 listed in this question) and articulate a compelling strategy and roadmap around achieving the best outcomes for your business. Within those are assumptions, risks, opportunities, etc. that are worth digging into and questioning, and from there you can usually start to get a sense of where to focus. To a certain extent, you'll need to at least focus a little on all of these inputs, just to get a sense of whether they're worth digging deeper on. I think the answer around "where to focus" will differ highly based on the context you find yourself in, but I think you can start by asking yourself what the biggest immediate problem or opportunity is, based on what you know. 

Oftentimes the inputs themselves will help provide that direction. For instance: in my current role, I have a wide scope with a lot of users to consider, stakeholders to partner with, and problems to be solved. Some of the problems that appear impactful on the surface I realized were not very actionable as is for a number of reasons, so I chose to shift focus to an area that was immediately actionable, had resourcing focused on it, and I had prior experience to help guide me on potential solutions. I was able to then demonstrate some short-term impact and hire a PM to drive value in that space, allowing me to shift over to another problem area. I also realized that one of the business goals related to that space had some assumptions built into it that we began to question as a result of the work we did, allowing us to shift the priority of that business goal a bit.