PRODUCT MANAGEMENT FRAMEWORK Start

Product Management Framework Start-Free PDF

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This paper outlines the art and science of product management It creates a. framework not only for the role product manager and the function but also for the. Product management is a key organizational process for high tech B2B companies. involving more or less all parts of the company, The Product management arena is defined as four key areas. Insight creation,Product strategy,Product planning. Product marketing go to market, We look into the organizational boundaries and interfaces seen from the product. management perspective, A maturity model for product management is introduced How can we reach high. performing levels, TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 2.
The Product Management Arena PMA, Definitions of product management are roughly the same around the globe and in. various industries In some cases Product marketing is treated as a separate role. the degree of responsibility for overall profitability deliveries and sales forecasts. varies quite a lot We define PM as four key areas, Product planning Making sure that the right product is offered. Product marketing Enabling the product to reach its potential. Product strategy The guide for product value delivery over the life cycle. Creating insights Understanding legacy ecosystems markets and driving forces. Inner Loop,Fig 1 Product management arena Inner Loop. In the complex environment of today in particular for B2B technology companies we cannot. longer use a simple value chain model to describe our business Often our competitors are. marketing friends and customers at the same time We need to introduce the concept of an. ecosystem where actors interact in various ways and there are multiple interdependencies. As product managers we want to identify and leverage market opportunities in our. Ecosystem As a rule rather than an exception we create solutions to solve multi dimensional. user problems Sometime we deliver products and services on our own but more often our. products are integrated and used in combination with other components. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 3. So how do we move forward and plan for new products How do we get through the Fuzzy. Front End How do we generate a fantastic launch, We often see companies developing products they cannot sell We often see companies. selling things that aren t developed High performing Product Management enables. companies to sell what is developed and develop what we can sell. The Product Strategy connects selling with development Making sure what we develop can. and will be sold and that we market what we have in our portfolio or Roadmap The. Product strategy shall be aligned with overall corporate directions and goals In some cases. the corporate strategy can be developed by the Product Strategy A product manager must. never wait for the corporate strategy Without Product strategy we cannot do the job of. product management The Product strategy shall be used in product planning but also in. product marketing, In order to create a successful strategy it is essential to have what we call Insights Obviously.
we want to know what will happen to supporting technology customer segments and new. disruptive innovations preparing ground for new solutions We want to have good grip on. market trends how will our target market evolve over the coming period Product. Management needs to look into the future and act on it. Insights is also about our own capabilities and strategies What is really the intention from. corporate management Is it realistic that our R D department can produce cutting edge. designs Do we have the right skill set in our sales force to sell not only products but. complete solutions including an extensive service offering. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 4. Outer Loop,Fig 2 Product management arena Outer loop. In some companies Product Managers are stuck with operational support to ongoing. deliveries and projects Solving technical and delivery issues which are popping up every now. and then Product Managers are also sometimes key technical sales support if the sales force. is lacking product know how on their own This work will drastically reduce the Product. Manager s ability to deliver the core of Product Management. Another dimension is actual business forecasting The work of product management builds. the basis for scaling up the business Delivery units sales units support units etc need to be. activated We often see situations were sales forecasts are going down when we start to. approach the launch date What was a realistic ambition level when creating the business. case is suddenly difficult when we need to commit to actual sales volumes Reality check is a. crucial part of the role as Product Manager Product Managers must never be afraid to speak. up and give factual input, In a growing number of companies corporate management expects product managers to. empower sales and marketing to reach the business goals for each product The increased. focus of sales empowerment increases the role of Product Management Staffing the role will. also require additional skills, TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 5. Fig 3 Three pillars of Product Management,Product management role is built on three pillars. Product Planning,Product Strategy,Product Marketing.
Product planning and Product marketing are clear outputs from Product Management To be. successful a Product Strategy is needed in aligning the two areas. Insights not only the market insights is the foundation for generating a product strategy. and to tie it all together, A main challenge for the individual product manager is to juggle with them all in parallel. But where do we start The problem is often to be found in product planning or in product. marketing But to deliver it we need the strategy and the insights. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 6. Product Management Interfaces PMI, When drawing a picture of any part of an organization your own part often ends up in the. middle In the case of product management this is certainly true very few other functions. interact with the entire company, Key interfaces for a product manager are corporate management development operations. and sales marketing,Fig 4 Key interfaces of Product Management. Management, PM delivers product investment proposals and receive project budgets for R D and.
marketing campaigns and activities in return We talk about the Product Governance process. and involves steering groups and product councils, TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 7. There should also be a continuous process of aligning corporate strategies vs product. strategies Often new insights and opportunities having a profound impact on the future of. the company are originating from the PM team,Development. Tolpagorni deploys regularly surveys in the PM community Results show that overall product. managers spend in average 50 of their time handling requirements and product planning. Efficient and effective collaboration with the R D teams is critical for product success. In a typical setup the ratio between developers and product managers are close to 20 1. The reality is that product managers will often have to adopt to the R D ways of working. The Agile environment sets very different requirements on a PM compared to a traditional. waterfall project organization, A key responsibility of product management is to define product requirements but also to. convey an understanding of context the domain know how. Delivery organization, Sales forecasts are coming from different sales regions and channels In some companies. product managers are asked to at least check out sometime even approve consolidated. sales and or production forecasts Companies might want a matrix control per region for. all products Sales director but also per product for all regions Product director. If sales are way above forecasts product managers might be asked to participate or even take. final decisions on allocation, In critical situations Product management needs to get involved in the delivery work To.
avoid line stops in own production one component is not available can we replace it or. at a customer can they accept a product deviation product managers again can be. In service intensive organizations Product Management should take an active part in the. process design and competence build up These are fundamentals in scaling up the service. focused business The process and the competence build up should be treated as a part of. the product,Sales Marketing, The Product Brief is your consolidated product presentation to marketing Defining the key. unique selling point USPs and the value you deliver with your product Who are the target. Personas What are the target applications What is your resonating focus. In return from sales you would expect a lot of market and customer insights. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 8. Real customers in the market, Sales departments always filter a lot of useful information They cannot share all their insights. with you Sales has a different objective compared with Product Management Sales will and. shall always focusing in getting the next customer on board Product management must act. to create a sustainable business over time Product management can never rely on having. sales as a proxy for market information There is no substitute from seeing actual existing or. potential new customers In fact product managers are highly appreciated by customers. They see product managers as reliable and trustworthy and not as a salesperson This gives. product mangers a unique opportunity to collect true insights from direct customer contacts. The Product Management Maturity Model PMMM, Product management is one of few positions in a company where you can indeed. pursue your career and take giant steps without actually changing formal positions. Going from being reactive giving support to driving the business is a big difference. Fig 5 Three levels of Product Management Maturity, At Tolpagorni we have developed a maturity model for product management This is not only. confined to your skills and competences but also to the product management process In. order to reach higher level you would need acceptance and support from corporate. management Sales and R D, TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 9.
Let us combine the Product Management working arena with the Maturity Model. Product planning, At a basic level the product manager will just collect requirements from all stakeholders and. hand over the compiled list to development At the highest level you would inform about the. context target market and Personas give direction and enable individual developers to take. their own decisions eg when composing every single line of code or designing the. mechanics for the casing You will also drive the requirements Telling marketing and sales. where you want to go What kind of projects are we looking for What kind of requirements. will be approved,Fig 6 Acting at maturity levels,Product Marketing. The basic product manager produces the marketing items on the checklist We probably. provide a good and useful slide deck for the upcoming customer visit The High Performing. product manager identifies target applications discovers pains and gains for the customer. and the journey for solving them The High Performing Product Managers build a journey for. our customers success and a resonating focus for our product. Product Strategy, There are many schools describing how strategies should be created After all it is not that. difficult What is trickier is to implement strategies in products and in our product. management work The tools we use are directly connected to the strategy It can be how we. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 10. prioritize requirements It can be deciding in which customer we do user studies by It can be. in what order we launch a new product line,The Tolpagorni Product Management Framework TPMF. The Tolpagorni Product Management Framework is based on the one from ISPMA. We have chosen to add some boxes in particular to address not only software. intensive products but all kinds of products including HW and services. Fig 7 Product management framework,Main areas, Strategic management is an activity within an organization with the content to define plan.
agree implement and evaluate the organization s strategy. Product strategy is the guide for profitability for one particular product family creating. strategic assets, Product planning is the core responsibility to define the product offering over time. Development all technical product aspects including the implementation of changes and. extensions to the product,Marketing marketing and deployment of products. Sales and Distribution includes supply chain sales and distribution to customers. TOLPAGORNI product management AB 2016 www tolpagorni com Eight Tools for Successful PM 11. Service and Support all services offered and provided to customers This includes both. Product management is a key organizational process for high tech B2B companies involving more or less all parts of the company The Product management arena is defined as four key areas Insight creation Product strategy Product planning Product marketing go to market

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