Introducing the Product Mgmt Framework (PMF)
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The document introduces the AIPMM Product Management Framework (PMF), a standardized approach to product management aimed at unifying practices across industries. It emphasizes the importance of product management as a recognized profession and outlines the challenges faced, such as a lack of common standards and recognition. The PMF serves as a tool for professionals to manage products effectively throughout their lifecycle, promoting accountability and enhancing communication among stakeholders.
Introducing the Product Mgmt Framework (PMF)
- 1. Introducing the AIPMM Product Management Framework (PMF) © AIPMM
- 2. Agenda 1. What is Product Management? 2. The State of Product Management 3. The Definition of a Profession 4. How PM Stands up as a Profession 5. Who is AIPMM? 6. What is a Framework? What is PMF? 7. Why is PMF useful? 8. Product & Project Management Roles 9. Who should use the PMF? 10. When/Where should the PMF be used? Product Management Framework (PMF) © AIPMM 1998 - 2011
- 3. 1. What is Product Management? • Cross-functional discipline in an organization • Management of a product thru its entire lifecycle • Responsibility for Planning, Realization, Marketing • Products: – Tangible goods – Intangible services • Management of products exist – All industries, all companies – Products don’t release themselves – Some individual or group of individuals perform the work • But no all companies have Product Manager titles Product Management Framework (PMF) © AIPMM 1998 - 2011
- 4. 2. The State of Product Management • Important but often misunderstood discipline • No common job descriptions • No mobility across industries • No accepted standards, practices, framework • No universally accepted Body of Knowledge (BOK) • Each supply chain vendor offers their own BOK • Each vendor offers their framework as “the standard” – Becoming the “defacto standard” is great for profit Little/No recognition of product management as a profession Product Management Framework (PMF) © AIPMM 1998 - 2011
- 5. 3. The Definition of a Profession A calling requiring specialized knowledge and often long and intensive academic preparation (Merriam-Webster) Main milestones (Wikipedia) 1. It became a full-time occupation 2. The first training school was established 3. The first university school was established 4. The first local association was established 5. The first national association was established 6. The codes of professional ethics were introduced 7. State licensing laws were established Primary Characteristics (Wikipedia) 1. Skill based on theoretical knowledge - Body of knowledge 2. Professional associations - Local, national, international 3. Extensive period of education - Undergraduate, graduate 4. Testing of competence - Certification 5. Institutional training - Continuing professional education 6. Indeterminacy of knowledge - acquired thru experience, apprenticeships 7. Mobility - Standardized across industries Product Management Framework (PMF) © AIPMM 1998 - 2011
- 6. 4. Product Management as a Profession A calling requiring specialized knowledge and often long and intensive academic preparation (Merriam-Webster) Main milestones (Wikipedia) 1. It became a full-time occupation 2. The first training school was established 3. The first university school was established 4. The first local association was established 5. The first national association was established 6. The codes of professional ethics were introduced 7. State licensing laws were established Primary Characteristics (Wikipedia) 1. Skill based on theoretical knowledge - Body of knowledge 2. Professional associations - Local, national, international Legend 3. Extensive period of education - Undergraduate, graduate 4. Testing of competence - Certification Complete 5. Institutional training - Continuing professional education 6. Indeterminacy of knowledge - acquired thru experience, apprenticeships In process 7. Mobility - Standardized across industries Product Management Framework (PMF) © AIPMM 1998 - 2011
- 7. 5. Who is AIPMM? • Association of International Product Marketing & Management • Founded in 1998 • Goal – Support Development of the Product Management Profession • Strategy – Provide an international association to advance the profession of Product Management across all industries – Develop the Product Management Framework (PMF) to standardize the product management Body of Knowledge (ProdBOK) for all industries – Provide Global Certification of Product Management (distinct from training course certificates) – Work with academic institutions to develop undergrad/graduate level product management programs Product Management Framework (PMF) © AIPMM 1998 - 2011
- 8. 6.1 What is a Framework? • Scaffolding – Manpower – Raw materials • Enables construction of wide variety of projects Product Management Framework (PMF) © AIPMM 1998 - 2011
- 9. 6.2 What is the AIPMM PMF? • Cross-industry standard framework for managing products • Created by AIPMM - a non-profit association • Conceptual outline for Product Management BOK (ProdBOK) • X-Y matrix mapping key parameters over time – Inputs, processes, outputs required to bring products to market – Key parameters unique to product management profession TIME KEY PARAMETERS Product Management Framework (PMF) © AIPMM 1998 - 2011
- 10. 6.3 AIPMM PMF Matrix X-Axis: Product Management Life Cycle (PMLC) Y-Axis: Project/ Product Program Mgmt Knowledge Product Areas 5 Major Knowledge Areas (KA) 4 unique to Prod. Mgmt: Business, Customer, Product, Market 1 overlap w/ Proj / Prog Mgmt: Organization (cross-functional matrix projects & programs) Product Management Framework (PMF) © AIPMM 1998 - 2011
- 11. 6.4 PMF Spreadsheet Tool Product Management Life Cycle (PMLC) Product Management Knowledge Areas • Simple structure – not rocket science – easy to copy • You can do it yourself or use an AIPMM tool Product Management Framework (PMF) © AIPMM 1998 - 2011
- 12. 7. Why is PMF Useful? • Simple – X-axis = time, Y-axis = knowledge areas • Comprehensive, Concise – WHAT activities are required, and WHEN – Independent of WHO • Common lexicon – Commonly accepted terms for activities, deliverables, milestones to allow product teams to effectively communicate efforts • Universal – Cross industry standard for managing goods & services over entire lifecycle – Independent of company size – Indisputable – Expandable • Tool development – Provides training industry w/ common terminology to foster development of tools to help product teams deliver profitable, quality products • Professional – Promotes product management as a recognized profession on par w/ doctors, lawyers, project managers, … Product Management Framework (PMF) © AIPMM 1998 - 2011
- 13. 8.1 Product & Project Mgmt Comparison • Product, Project (as well as Program) Managers are all critical functions required to bring products to market profitably and successfully • Each impacts the Profit/Loss Statement for the product • Product Managers maximize Profit • Project/Program Mgrs minimize risk and thus Loss Product Management Framework (PMF) © AIPMM 1998 - 2011
- 14. 8.2 Project Management Framework* Time Key Parameters • 9 Knowledge Areas (KA): Integration, Scope, Time, Cost, Quality, HR, Comm, Risk, Procure • Multiple Projects roll up into Programs * Source: PMI PMBOK®) Product Management Framework (PMF) © AIPMM 1998 - 2011
- 15. 8.3 Product vs Project Framework Time Knowledge Area Product, Project, Program Mgmt Frameworks all based on the same structure: X-axis: Time , Y-axis: KA Product Management Framework (PMF) © AIPMM 1998 - 2011
- 16. 9. Who Should Use the PMF? • Product Management Professionals – Enable industry standard, recognized certification for Product Mgmt professionals – Expand opportunities across industries for certified Product Mgmt professionals • Project Management Professionals – Provide growth path for Project Mgmt professionals • Product Team Members – Common set of planning, measurement and implementation tools to help product teams deliver quality products to market • Training vendors – Increase demand for training thu universal, standard Product Mgmt framework • Company Executives – Increase quality, effectiveness of product management professionals – Increase quality, predictability of product development efforts – Provide clarity - anticipate uncertainty, avoid disjointedness – Provide accountability - clear understanding of roles, responsibilities & deliverables. – Increase credibility - provide predictable results • Academics – Provide standardized undergrad/grad course material across all industries – Provide practical “how to”, process education to increase student’s hiring chances – Provide pragmatic subset of MBA knowledge areas to PM professionals Product Management Framework (PMF) © AIPMM 1998 - 2011
- 17. 10. When/Where should PMF be used? • At every point in the product development lifecycle – Conceive, Plan, Develop, Qualify Launch, Deliver, Retire – Logical structure for new product development – Orientation tool for products already under development – Avoid losing track of products once announced – Retire with continuity • By all cross functional groups & departments impacting product creation and deployment – Use to communicate with all cross functional groups – Use to inform all stakeholders of project/product progress Product Management Framework (PMF) © AIPMM 1998 - 2011
- 18. In Closing… • Product Management Framework (PMF) – Provides Simple, comprehensive framework for managing products – Avoids wasting time reinventing the (process) wheel – Universal framework across all industries, all size companies – Simplifies, empowers product mgmt • To Quote Dr. W. Edwards Demming (1982): “ Use standards (guidelines/processes) as the liberator that relegates the problems that have already been solved to the field of the routine, and leaves the creative faculties free for the problems that are still unsolved.” • Thus, PMF can empower innovation in 5 dimensions of organization, business, customer, product and market to provide powerful competitive advantages Product Management Framework (PMF) © AIPMM 1998 - 2011
- 19. Call to Action • How you can help promote the use of PMF: – Join AIPMM – Join AIPMM Ambassador Group – Adopt and promote PMF to your colleagues • To join AIPMM, go to www.aipmm.com – Networking opportunities, Training, Ambassador Program, On-line forums, PM data base – Product Management certification • If interested in the PMF Excel Spreadsheet tool: – Available free to members – First of many such PMF tools Product Management Framework (PMF) © AIPMM 1998 - 2011
- 20. Agenda Recap/”Cliff Notes version” 1. What is Product Management? Cross-functional discipline in an organization Management of a product thru its entire lifecycle, including Planning, Realization, Marketing 2. The state of Product Management Little/no recognition of product management as a profession 3. The Definition of a Profession A calling requiring specialized knowledge and often long and intensive academic preparation 4. How PM Stands up as a Profession Work in progress 5. Who is AIPMM? Non-profit Association dedicated to advancement of the Product Management profession 6. What is PMF? Standard framework for Product Management Body of Knowledge (ProdBOK) 7. Why is PMF useful? Establish common activities, deliverables: all industries, all size companies Improve ability to develop profitable products Establish Product Management as a recognized, respected profession 8. How does PMF relate to Project Mgmt? Project Management is a subset of the Product Management Organization KA 9. Who should use the PMF? PM, PMM, Project mgrs, Trainers, Dev Managers 10.When/Where should the PMF be used? Entire product development lifecycle All groups & departments impacting product creation or deployment Product Management Framework (PMF) © AIPMM 1998 - 2011
- 21. Useful Links • Main web page: www.aipmm.com • PMF Whitepaper: www.aipmm.com/pmf • Articles: www.aipmm.com/html/newsletter/article.php • Blogs: www.aipmm.com/anthropology/ • Webinars: www.aipmm.com/aipmm_webinars/ • Certification: www.aipmm.com/html/certification/ • PMF Brochure: www.aipmm.com/brochures/AIPMM_PMF.pdf * Italics may require update on the web site if not done already Product Management Framework (PMF) © AIPMM 1998 - 2011
- 22. AIPMM Core Team • Therese Padilla - President, Co-Founder AIPMM • Paula Gray - VP, Co-Founder, Anthropologist-in-Residence • Steve Wells – Senior Product Manager – BEE, MEE, MBA – International Business certificate; ex-pat experience – PMP & CPM certifications – Process focus (5W’s) – Passion to make PM a recognized profession – 30+ years in product management – 30+ technologies (HW/SW/Apps/Net) – 10+ industries (12+ mobile/wireless) – Standards experience – Recognized need/ proposed framework for Product Management BOK • Hector Del Castillo - Senior Product Marketing Manager – BS EE, MS EE – CPM, CPMM & PMP certifications – IEEE Standards experience – 10+ years in product management – 20+ technologies (HW/SW/Apps) – 10+ industries (12+ mobile/wireless) – Launched over 15 hardware and software products – Passion for transforming products into profit Product Management Framework (PMF) © AIPMM 1998 - 2011