As a PM, I'm constantly asked how I hold great standup meetings. It's simple - I follow the SUCKS framework. I learned SUCKS during a summer Bootcamp:
The SUCKS framework for standups includes:
- Stories
- Updates
- Challenges
- Kneejerks
- Sidetracks
Stories:

Always begin by going through all the stories on your product management board. It's important that you go through each individual story every meeting. Not much will have changed in the last 24 hours but at least you have something to talk about.
Updates:

As the PM, you should update the team on your life. Share what you did in the last 24 hours between the previous standup and this one. The team will appreciate a glimpse into your personal life.
Challenges:

Your goal is to challenge everything in your standup meeting. New timeline? Challenge it. Falling behind? Challenge it. Another roadblock...?
Kneejerks:

Always have kneejerk reactions. It's better to quickly react to everything than thoughtfully process information. The team will appreciate how much time you saved them after spending the first half of the meeting going through every story.
Sidetracks:

Lastly, feel free to liberally add more projects and sidetrack the team. A standup meeting isn't successful unless at least 50% of the team gets sidetracked. The team will appreciate the extra work.
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