ORIENTATION

A Product Management process once deployed, ensures repeatable outcomes and commercial success. Rationale derived from the observations of successful Products and Services managed within in a robust framework. ...Every aspect of the Product Management activity can be optimised with measured precision. In practice, this is achieved by a cascade of Objectives and Strategies owned and delivered by high performance multidisciplinary teams, strategically led by 'Product Management'. Furthermore a cultural ethos of 'continuous improvement' is no longer an option in business, ...it should be an integral part of robust procedures.

For maximum effectiveness a chosen solution (framework) must be 'right' for the business of which it is intended. It must primarily meet the alignment criteria set by the organisation itself. However, as a procedural activity within the business it should not detract from the primary purpose of the organisation in anyway. All things considered, this may be the perfect opportunity to trigger a business transformation programme and fundamentally 'start with the end in sight'.

As an important reminder, the purpose and objective of 'Product Management' is quite simple: to deliver 'Strategic Intent' efficiently and effectively at the right time. The enormity of this task however is often underestimated as it can be quite profound and complex to achieve in practice. To satisfy the this requirement requires a competitive organisation aligned to core PMM principles.

From a general point of view, the Product / Service portfolio resides within a strategically planned portfolio matrix environment. The 'portfolio' matrix (no matter the size) metaphorically floats within the organisation and is owned by 'Product Management' activity. Product Management's role is therefore to strategically manage the portfolio matrix in the most efficient and effective way possible (by delivering products and services to the matrix that align to market requirements).

Operational / Functional areas are responsible to tactically deliver their part of the product / service by operating as part of a strategically aligned multidisciplinary team. The operational - functional areas of the business, in this scenario, become suppliers to 'Product Management' - in other words Product Management which is managed by a triad of management disciplines ie; 'Product Managers', 'Market Development Managers' and the 'Strategic Director'.

Understand and acknowledge your business organisational alignment and creative culture...

Product Management processes and activities must work in harmony with the organisation to deliver strategic intent efficiently and effectively - in other words they must be right for your business - processes and activities must add value.

Business planning and process constraints should therefore be understood/acknowledged throughout. Particular attention should be given to how your business objectives / strategies are cascaded into the organisation and the use of multidisciplinary teams to get things done, this is often a weak area in many companies and have detrimental effect on its outcomes. Changing the 'culture' of a steadfast business steeped in tradition should however, not be underestimated, it will take careful rational to change its course for the better.

The PMM core concepts are generic in it's form, they can be deployed in part or as a process ethos entity into virtually any business environment, but we must understand 'Where are we now' (the initial start-point) and 'What do we want to achieve' (what are your expectations).

Please Note: If you would like to dip in and out of the tools and processes on an ad-hoc basis, that’s absolutely fine, you can do just that, however, expectations regarding the outcomes must be aligned accordingly.  Likewise the rigour and time spent on individual elements /subject areas are directly related to the level of business risk you are willing to accept going forward. That is to say, little or no planning = high risk, meticulous planning = risk averse. ...so you must decide the level of planning activity that is right for your business.

Product Management as defined, is made up of 3 primary subject areas which in turn are individual disciplines in their own right, entitled:  Programme Management, Market Development and Strategic Portfolio Management.

It is important to note, that the size / structure of a portfolio of Products (...mapped against their aligned Markets) do not change the core fundamentals and generic rationale. Likewise, the physical size of the business unit / Company does not change the overall concept. The ‘Start-up’ or ‘Entrepreneur’, for example has the same 'core disciplines' to manage, but perhaps not to the same depth as a large corporate entity. For the Entrepreneurial start-up, the 'programme management' activity may also not be as acute, or as crucial as if you were managing a large traditional portfolio, but the principles and rationale remain absolutely true. Significant benefits can therefore be realised across many areas if we follow method and manage our product portfolio in pragmatic and efficient way.

Select a PMM framework that aligns with your business / company and meets your planning requirements...

A. Entrepreneurship Alignment

B. Entrepreneurship Alignment + OEM Product

C. Product Manager Alignment

D. Product Manager Alignment + OEM Product

E. Market Development (Marketing) Mgr. Alignment

G.  P.Mgr + Market Dev. Alignment

H.  P.Mgr + Market Dev. Alignment + OEM Products

The IPM practitioner series, is a definitive and integrated training programme for management professionals operating in the Product Management arena. So whether you’re the Managing Director, Product Director, Product Manager or a member of the Multidisciplinary Team we are confident that you will find this particular training series to be one of the best available and an invaluable asset to both you and your company.