A product development roadmap is a detailed plan outlining the steps, timelines, resources, and processes involved in taking a product from concept to market launch. It serves as a guide for the entire product lifecycle, ensuring that every aspect of development aligns with the overall business and product goals. Unlike general product roadmaps, which focus on big-picture planning and map out overarching direction, product development roadmaps are more granular, defining specific features, designs, and work to be done to take a product from ideation to launch. Key components of a product development roadmap include the product vision and objectives, feature breakdown, tech specifications, designs or design plans, release plan, budget and timeline, and potential risks. A well-crafted product development roadmap offers numerous benefits such as organization for complex processes, facilitation of cross-team collaboration, increased communication, and provision of a centralized source of truth. To create an effective product development plan, follow these five steps: set your goals and strategy, choose an appropriate roadmap framework, map out the product development process, determine stakeholders and project owners, and monitor and adjust as needed.