Product Management: What are needed knowledge and skills?

Product management is an organizational function within a company dealing with new product development, business justification, planning, verification, forecasting, pricing, product launch, and marketing of a product or products at all stages of the product lifecycle.


If your teams juggle deadlines, resources, and deliverables, you need a dedicated project management tool. From front to back, your product portfolio delivers the resources you need to manage and optimize your investment performance and increase your operational agility. These tools can identify procedures, ideas, statistics, cause and effect concerns and other issues relevant to their organizations.


Budget planning, management and control is significantly more complex in the context of a program. The processes or the various stages involved would vary depending on the type of product. Production planning is required for scheduling, dispatch, inspection, quality management, inventory management, supply management and equipment management.


Every product development project is unique in its own way, and requires a different planning process with constant modifications. The production process, or manufacturing process, consists of a few key components or sub-processes from production planning through quality assurance and inspection of final products. Similarly, a brand strategy decision would lead to brand innovation opportunities.


Production management also deals with decision-making regarding the quality, quantity, cost, etc, of production. In value chain management, your organization focuses on analyzing the core activities occurring inside and outside of its structure. Prioritizing the product backlog as per business value is one of the most important responsibilities of the product owner.


Coordinate with development, design, and marketing teams to hit launch dates on time. Helps you make appropriate decisions and implement best practices in all aspects of risk management. A product roadmap is a shared source of truth that outlines the vision, direction, priorities, and progress of a product over time. It emphasizes the need to understand and the importance of renewed focus on product lifecycle from design to disposal and supply chain from end to end.


The overall success of your organization is dependent on how marketing is able to inform strategy and maintain an operational focus on market needs. Production planning and control address a fundamental problem of low productivity, inventory management and resource utilization. A typical project starts with initiation and goes through planning, execution, and control, with the final phase being closure of the project.


For your organization senior management, cost breakdown analysis is an effective technique that helps evaluate competitiveness of current prices and the economic impact of executive decisions. Replace your manual processes, non-integrated point solutions, or overly complex software suite with the industrys most comprehensive endpoint systems management solution and give your IT team more time to innovate.

Want to check how your Product Management Processes are performing? You don’t know what you don’t know. Find out with our Product Management Self Assessment Toolkit: