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The importance of Product Management within an organisation

Ana Nastase
18 Jul, 2022
3 m read

What is Product Management?

People are often confused about what a project manager does in an organization, and truth be told, this is not surprising, as the role encompasses a variety of tasks and responsibilities, which sometimes differ from one organization to another. However, to broadly define it, “product management is an organizational function that guides every step of a product’s lifecycle — from development to positioning and pricing — by focusing on the product and its customers first and foremost” (source). 

Thus, a product manager focuses on a variety of tasks, from conducting research to developing a high-level strategic plan using a roadmap, which they also have to communicate with the key stakeholders across the organization, while also coordinating the development process and coming up with data analysis and feedback sessions. The role should not be confused with the role of a product owner because even if they interact with each other, they responsibilities differ: 

While a product manager defines the direction of the product through research, vision-setting, alignment, and prioritization, the product owner should work more closely with the development team to execute against the goals that the product manager helps to define. (source)

However, this might vary depending on a series of aspects, such as whether or not the team uses Scrum, for example. To be able to deal with all these challenging tasks, a product manager should master a few skills:

  • Critical thinking 

This ability has become more of a buzzword recently, with people adding it to their curriculum vitae without thinking too much about its implications. Nevertheless, this is a must-have for any product manager, and not just as a bullet point in their resume, but as a really practical skill. PMs must be able to analyze data and to come up with valuable and actionable insights based on it, to make smart product decisions and to do it as quickly as possible. 

  • Prioritize efficiently 

“At any one time, the product manager might have to decide between a feature that might make one big customer happy but upset 100 smaller customers; maintaining a product’s status quo or steering it in a new direction to expand its reach and align with larger business goals; or whether to focus on the bright and shiny or the boring and important.” (source) This being said, a product manager should master prioritization, as the whole team relies on them for this. 

Training programs for Product Managers

Working in the product management sector means you have to be up to date with the latest technologies and trends in the market, to be able to manage a team and to use a mix of methodologies that prove efficient in the long run. This involves constant learning, so we have some training programs to recommend. 

  1. Leadership in Product Management

This training is structured around topics such as leadership challenges in the product management field, outcome creation from the stakeholders, ways to find leverage in the system, and it is aimed at every product manager who wants to learn the fundamental leadership techniques and to come up with a strategy based on these and on individual leadership strengths. 

  1. Product Strategy and Roadmap

How are you ensuring the success of a product? What’s your current strategy? Is it adaptable to possible changes? These are questions that will find answers during this training, focused on translating product strategy into product roadmaps, while understanding the product prioritization success and measuring the effectiveness of a specific product roadmaps. 

  1. People Skills for Product Managers

This is a one-day course that teaches the people skills side of Product Management and Product Marketing. The curriculum includes the role of Product Management and Product Marketing, how to work more effectively with executives, sales and engineering, communication, negotiation, influencing and productivity.

Of course, all of these training programs can be tailored according to the specific needs of a product manager, with a focus on the workflow of his team, the challenges they face and any other learning characteristics that they aim to develop. 

Some (final) thoughts

Drop us a line if you need a training on product management and let's see what's the best solution for you.

This article is part of a bigger topic called: 

Agile Product Management

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