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Session by Mr Ravi Padaki, Founder & CEO, Pravi Consulting and President- IPMA during a product management workshop at Bangalore on 17th May 2014 by NASSCOM and IPMA under its Product Management Express. It is about: Software Product Management: An Introductiion What it take to be Great product Manager Managers' Roles and Responsibilities
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Presents
Product Management ExpressPlatform 1: Market
SpeakersRavi Padaki & Manish Maheshwari
Objectives of the Market Platform
• Demystify Product Management• Emphasize Market Driven Needs• Explore Product Management Careers
Agenda
• Module 1– Introduction to Product Management– Roles and Responsibilities– Idea to launch process
• Module 2– Discovering needs– Translating need into a product– What makes a great PM?
What’s a product?Ready to “satisfy” or “create” a need
Either has a “utility” or kindles a “desire”
Finished to buy or to resell
Solutions “packaged”
Tangible or Intangible
Repeatable in manufacturing
Repeatable in solving the need
Repeatable in distribution
Repeatable in pricing
Solution Drivers• Client driven
– Custom solution for each client– Not repeatable– e.g. Infosys, Cognizant
• Technology driven– Technology breakthrough or validation– Can be repeatable but more focused on breakthrough– e.g. Research in Motion, Google Search, Web TV
• Market driven– Aggregated needs across market– Repeatable solution across users in a given market– e.g. iPhone, Zoho, Fusion Charts
What is Product Management?ProductManagement
What to build? (Problem Statement)
Who to build for? (Target Markets and Customers)
Why do we need to build it? (Business Case)
When do we need to build? (Planning)
What is the desired experience? (Design andTechnological Feasibility)
What is Product Management?
Business
DesignTechnology
You are here!
The BTD Framework
8
Business
DesignTechnology
OpportunityAssessmentOpportunityAssessment Market ResearchMarket Research Competitive
LandscapeCompetitiveLandscape Market definitionMarket definition
Mental ModelsMental Models
PersonasPersonas
Technologytrends
Technologytrends
Cost of effortCost of effort
FeasibilityconstraintsFeasibilityconstraints Design trendsDesign trends
Fundamentals of Product Mindset
Customer needs Vs Customer wants
Problem space Vs Solution Space
Market driven needs Vs Clientrequirements
Problem Space
Articulate the problem statement first
Don’t get into how without validating the problem youwant to solve
When you are building prototypes and validating withthe customer, validate the problem not the solution
What are we present to?
New Connectedness• Social and Professional Networks• Mobile devices• Crowd Sourcing
New Technology• Big Data• Open Source• Anything as a Service
New Processes• Lean Methodology’s Iterative validation (MVP)• Co-creation and Co-designing
Implications for the new age PM
Ability to move fast with cheaply availableopen source technologies
Ability to make use of (reliable) data forbetter decisions
Imperative to focus on customer delightand business models
ROLES AND RESPONSIBILITIES
Day to Day Responsibilities of aProduct Manager
Identify customer and market needs
Assess opportunity for business and users
Develop product strategy and roadmaps
Work with cross functional team to bring products live to market
Communicate product value to users and internal stakeholders
Measure and manage growth and usage
In one word…
Ultimately you are the CEO of the Product!• Leadership by influence matters a great deal• All the responsibility and no authority• Authority is earned by earning respect
A DAY IN THE LIFE OF APRODUCT MANAGER
16
A Day in the Life of a Product Manager
Attend to urgent and important
Check favourite blogs, news on products, technology and markets
Attend daily huddle
Check current release status
Check past release product performance and customer issues
Develop detailed plans for next release
Make time for competitive research and analysis – up and coming startups
Make time to build relationships with internal and external partners
Attend to last minute requests on demos and presentations
IDEA TO LAUNCH PROCESS
TraditionalProduct Development Life Cycle
OpportunityAssessmentBRD&MRD
ProductPlanning
RoadmapsBacklogs
DefinitionPRD
DesignUI Mocks
DevelopmentCode
LaunchProduct
The life cycle is getting faster and shorter
OpportunityAssessmentDocuments
Product DiscoveryPlanning + Definition +
DesignPrototypesRoadmapsBacklogs
Product DiscoveryPlanning + Definition +
DesignPrototypesRoadmapsBacklogs
DevelopmentCode
DevelopmentCode
LaunchProduct
Overview of Products and Markets
Markets
New
Existing
Existing New
Products
Also known as Ansoff Matrix
Startups
Hi Tech Product Life Cycle
22
END: MODULE 1
THANK YOU
Ravi PadakiCEO, Pravi Solutionsravi@pravisolutions.com
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