[Project Management] What Is A Funnel?

A funnel in project management is a framework used to track how user, customers and outcomes move through a series of stages towards a desired outcome.

My friends and I are currently building an EMR (Electronic Medical Records) application for hospitals. Our goal is to get doctors to adopt to our product. In this case, a funnel may look like the following:

How Does A Funnel Help Achieve Project Sucess?

Funnels help project managers make decisions using measurable outcomes rather than assumptions.

Conversion Rate=Users at next stageUsers at current stage×100\text{Conversion Rate} = \frac{\text{Users at next stage}}{\text{Users at current stage}} \times 100

For example, 400 out of 600 doctors complete onboarding:

400600×100=66.7%\frac{400}{600} \times 100 = 66.7\%

Using the conversion rate, project managers can then make decisions to improve user and business outcomes.

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