Creating a Product Management Team

from scratch !!!

17th July 2016

Efficiency Through Ingenuity

My background

• CEO of Idea Group, a business process improvement

consultancy

• 23 years of experience in financial services & technology

• Broad range of roles across sales, product, marketing & ops

• Lived in UK, Luxembourg & New Zealand

• Most recent roles had global responsibility, including one

covering 204 sales markets and plenty of air miles....

Days by region

UKN

CE

NAM

AP

DV

Days by region

UKN

CE

NAM

AP

DV

Why this topic ?

• Product management SHOULD be a fundamental part of every

business

• Incredibly this is not the case and many firms STILL don’t have

a dedicated product management team

• As awareness rises, one day YOU might be asked to set a

product management team up

75% of Product Managers indicated that their company executives

did not have a good understanding of their role and its importance*(*LinkedIn Group Survey, 280 Group LLC. 2014)

Why “from scratch” ?

• Businesses have often not given any thought to product

• No one has an opinion, until you express one ... !

• Is that blank sheet of paper as blank as you think?

• What are the hidden pitfalls to avoid?

29% agreed with the statement “Our executive team completely

understands Product Management and the value it provides to the

company”

(**Challenges in Product Management Survey, 280 Group LLC. 2015)

Part 1 : Start with the facts

#1.1 : What does “Product” mean?

•Has the firm given any consideration to what Product is?

• What is considered a product by the firm?

• Is the owner also the builder?

• Are the products sold “as is”, or packaged in some way?

• Do external parties have a significant influence over products?

#1.2 : Where are the boundaries?

Product

IT

SalesFinance

OperationsClient Support

Step #1.3 : Broader terminology?

• Have the major terms been defined?

• Has this been agreed & accepted?

• Can you draw a line underneath this?

If you’re a business, rather than an

academic institution, don’t get distracted

by excessive navel gazing!

Step #1.4 : Human Resources?

•How many staff, or headcount, are available?

• Are there enough to cope with the available products?

• Have any of them got product experience?

• Do they have sufficient business knowledge?

56%44% Average or below

Above average

Skill

Level

**

56% of Product

Managers believe

that their company’s

product skill

level is “average” or

worse.

(**Challenges in Product Management Survey,

280 Group LLC. 2015)

Step #1.5 : Process expectations?

• Is there a process today?

• What parties are involved today, and will they continue to be involved?

• Do all parties realize, and accept, that things are going to change?

• Do you understand the approval levels & processes within the

organisation?

Step #1.6 : Any budget?

• Can you hire any additional staff?

• Can you undertake any additional training?

• Can you bring in any external consultancy resources re best practice?

• Can you bring in any additional technology to assist your teams?

• Can you bring your team together for an offsite to build the culture?

Part 2 : Build the structure

Step #2.1 : Define your products

• What products do you have?

• Where do they start, and where do they finish? Any overlaps?

• What stage of life are they at?

• What information is held about them today?

• Is there a natural “expert” on each one?

LAUNCH

GROWTH

MATURITY

DECLINE

Step #2.1 : Team shape

• Will you be structured by business, product, segment, region or other?

• Does the buck stop with one person per product, or multiple owners?

• How do reporting lines work? Will dotted v matrix cause confusion?

• Who sits at the top? Do you have a Practice Leader?

• Can you form a governance group?

| 2929

Governance Group

Throughout the Tarigo training sessions, and subsequent PMM evolution,

the need for a Governance Group has become apparent :

• Should be the ultimate decision point for all changes to PMM practice

• Should be chaired by the PMM Practice Leader

• Should be made up of representatives from each level & business line

• Should be held on a regular semi-annual basis, allowing settled practices

• Should not be a forum to retrospectively approve ad-hoc changes

• Should not be too large to allow effective dialogue

Governance Group Confirmed as :

Bill Gourlay (Temp Chair), Allyson Boode, David Dibben, Mandeep Dhillon, Manoj Ketkar, Martin Bock & Stephanie Knox

Step #2.2 : Process shape

• How will you structure your product process?

• Will you adopt waterfall, agile or a combination of models?

• How many different workflows will you require?

• What are your documentation and approval needs through the process?

In-life

Plan Build LaunchAssess Retire

New Product Introduction

Manage

Part 3 : Develop the team

Step #3.1 : Assess & Train

• Evaluate all of your teams capabilities

• Undertake full training, but be realistic re capabilities

• Ensure everyone has adopted your new process

PMM

launch events

Wk of

Jan 16

2 x

PMM training

sessions

Wk of

Dec 5

5 Products

trial PMM

Nov 2011

2 x

PMM training

sessions

Wk of

Dec 12

PMM officially

launched

Jan 2nd

2012

5 35

Step #3.2 : Keep help at hand

• Product champions in all regions / offices

• Support that is easy to access

“A Bank”

• Involve other business units

• Keep communication levels high

| 31

Build The Community

INDIAN

CALL

ATLANTIC

CALL

PACIFIC

CALL

“A Bank”

Step #3.3 : Raise expectations

| 11

PRODUCT BOARD

•Consisting of up to 8 members of the management team

• 30 uninterrupted minutes for you to present

• 15 minutes of focussed Q&A

• Presentations should be delivered using the Product Plan only

• The Management team will issue a scorecard to assist Garry Avery

(IN THE BELFRY ROOM)

| 12

PRODUCT CLINIC

• Usually held soon after your Product Board presentation

•A full hour of 1-2-1 time with Garry Avery

• Using his pre-reading to suggest improvements to the plan

• Using the Board scorecard to highlight strengths & weakness

•Creating a roadmap to take you forwards to May’s P&CS session

(IN THE WENTWORTH ROOM)

Step #3.4 : Ensure clarity & consistency

| 2828

2012 PMM Timetable

Q2

Q3

Q4

Q1

By 31

MarAll Product Plans

reviewed by Business

/ Segment Head

15-17

MayAll Product Plans formally reviewed

by P&CS

2

JanPMM

Launch

July/Aug

Budget Cycle

By 29

SeptAll Product Plans

reviewed by

Peer Group

By 15

DecAll Product Plans

reviewed by Internal

Client Group

PMs to construct f irst version

Product Plans

PMs to make presentation

version of Product

Plans with 2013 visions

P&CS Mgmt to agree

& announce

budget priorities

PMs to construct 2013 focussed Product Plans

and Marketing Plans.

Amendments to be made as 2013 budget conf irmed

PMs to communicate & evolve 2013 focussed Product Plans

and Marketing Plans.

Discussion to be undertaken re 2013 sales targets

= Product Manager Forum = PMM Governance Group NB : Additional P&CS Meetings now added !

“A Bank”

Step #3.5 : Keep standards high

ProductFinancials

2nd Qtr

3rd Qtr

Slice 4

Product

Financials

Product

PlanQuality

Annual

FormalPresentation

Collaboration

• Stick to the process that you have created

• Make improvements when & where it makes sense

• Appraise teams based on relevant criteria

• Build a product management culture & identity

• Don’t let standards slip!

Thank you!

Bill GourlayCEO, Idea Groupbill.gourlay@ideagroup.co.ukwww.ideagroup.co.uk / www.prodigyproduct.com

Efficiency Through Ingenuity