Project to product management nasscom workshop
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The document discusses the evolving role of project managers in product companies, highlighting the shift from traditional project management to product management. It emphasizes the importance of customer experience, design thinking, and skillset transitions, while outlining the competencies required for effective product leadership. Additionally, it provides insights into career paths, the productizing process, and the expectations from product managers in the industry.
Project to product management nasscom workshop
- 1. CHANGING ROLE OF PROJECT MANAGERS WORKING IN PRODUCT COMPANIES www.productleadership.com PROJECT MANAGEMENT TO PRODUCT MANAGEMENT
- 2. Most Recently Global VP Product Management McAfee, US CTO Office, NetIQ Director of Engineering 15 years in Product Industry Angel Investor Pinkesh Shah Faculty, IPL
- 3. ABOUT THE INSTITUTE BUSINESS SCHOOL FOR PRODUCT INNOVATORS PES University Bangalore, India SF State University San Francisco, USA CMR University Bangalore, India Rutgers Center of Innovation New Jersey, USA GLOBAL CAMPUSESGLOBAL CLIENTS KNOWLEDGE PARTNER FOR ORGANIZATIONS IN THEIR TALENT TRANSFORMATION INITIATIVES IPL PROPERTY – STRICTLY CONFIDENTIAL
- 4. Agenda Industry Drivers for the Big Shift Shift in Mindsets & Skillsets Defining Product Management Customer Insighting Exercise Product Leadership Career ManagementTips
- 5. OWNERSHIP TALENT Technology Technology, Project Management but No PM LEVEL 1 >20 PLScore Value OPTIMIZING #1 MNCs in India are forced to Innovate Features Product Owner, Tech PM LEVEL 2 >50 PLScore Value CO-CREATING Products Product Leaders, Career Path LEVEL 3 >90 PLSCORE Value PRODUCTIZING SOURCE: PRODUCT LEADERSHIP MATURITY MODEL
- 6. #2 Moving from “USP” to “UVP” SUBSCRIPTIONS – Vendor Locking to Vendor Engaging MARKET AGILE – Customers Expect Continuous Innovation MARKETPLACE – Mall Buying Behavior SOCIAL/DIGITAL – Pull vs Push Information
- 7. Changing Principles for Product Design Buy vs Easy to Sell Love to BuyEasy to Sell
- 8. #3 Customer Experience is the new “Differentiator” Consumerization of IT User Experience is becoming more important than featurism (even for B2B) “Delight over Amazement” Acceptable bar on Design and Usability is now higher
- 9. #1 MINDSET TRANSITION IS KEY CLIENT DELIGHT MARKET DELIGHT
- 10. JUMP? Project Management: How High? Product Management: Why?
- 11. #2 SKILLSET TRANSITION IS KEY DELIVERING PROJECT (PROJECT MANAGEMENT) DELIVERING DELIGHT (PRODUCT MANAGEMENT)
- 12. 12 PRODUCT LEADERSHIP COMPETENCIES TECHNICAL PRODUCT MANAGEMENT (Product Owner) INBOUND PRODUCT MANAGEMENT (Product Management) OUTBOUND PRODUCT MANAGEMENT (Product Marketing) CUSTOMER CENTRIC ENGINEERING MANAGEMENT (Product Leader)
- 13. #3 DEVELOP DEEPER CONTEXT Customer Buyer vs User Market Problems Value Competiti ve Alternatives? Do more vs Do Differently Innovate Business How are we making money? Monetizing the Value Delight
- 14. DESIGN FOR DELIGHT Its not a bug, it’s a feature Is anything wrong?Clearly Unusable
- 15. Can we build something that people want and be profitable? DESIRABILITYFEASIBILITY VIABILITY ROLE OF A PRODUCT LEADER
- 16. DESIGN THINKING helps with WHY? DESIRABILITY Is there a problem worth solving? Does anyone want our solution? FEASIBILITY Can we actually build it? Technology? People? VIABILITY Can we be profitable? Is there a market?
- 17. SKILLS REQUIRED FOR APPLYING DESIGN THINKING DESIRABILITY CUSTOMER INSIGHTING Need Finding Market Analysis Customer Validation Lean Thinking Prototyping & MVP FEASIBILITY PRODUCT PLANNING Personas Architecture UX & Design Requirements, Stories Prioritization Product Roadmaps VIABILITY MARKET EXECUTION Target Market Segmentation Product/Market Growth Go to Market Sales Enablement Customer Acquisition & Retention Product Profitability
- 18. Defining the Product Manager • Customer Value Modeling Understanding Value • Define products Creating Value • Value based Pricing Capturing Value • Positioning Value Prop Communicating Value • Value Channels Network Delivering Value Productizing = Value Management Product Manager is the orchestrator of this process but everybody needs to be involved in productizing process!
- 19. Choosing to Build Building Profitably Building it right Marketing it right Selling effectively PRODUCT MANAGEMENT COMPETENCIES Customer Insights Validation Target Market Sizing Product Strategy Win/Loss Analysis Competitive Analysis Pricing & Packaging Buy/Build/ Partner Requirements Routes to market Collaterals & Sales Tools User Experience Design Personas & Scenarios Portfolio Management Marketing Plan Launch Plan Customer Acquisition Lead Generation& PreSales Channel & Sales Training Evangelism Thought Leadership Performance Analysis Business Model & Plan Product Roadmap Product Positioning Customer Relationship Mgmt Market Analysis Strategic Planning Product Planning Go To Market Sales Enablement
- 20. Phases of “Productizing” : Interlock Conceive Plan Develop Qualify Launch Deliver Market Analysis Choosing to Build Strategic Planning Building Profitably Product Planning Building it right Go To Market Marketing it right Enabling Selling, Operationalizing Understand the Problem Needs/ Wants Feasibility Competition Business Plan - P&L Strategic Roadmap Market Requirement Requirements Testing User Acceptance Feedback control Compelling Value Proposition Messaging & Comm. Channels Creating Awareness & Demand Transition to Operations Sales & Channel Setup Product Mgr BA Product Mgr BA BA, Project Mgr BA, Project Mgr, PM Prod Mgr, Prod Mktg Mgr BA, Proj Mgr Prod Mgr, PMM Understand the Problem Needs/ Wants Feasibility Competition Business Plan - P&L Strategic Roadmap Market Requirement Understand the Problem Needs/ Wants Feasibility Competition Business Plan - P&L Strategic Roadmap Market Requirement Requirements Testing User Acceptance Feedback control Understand the Problem Needs/ Wants Feasibility Competition Business Plan - P&L Strategic Roadmap Market Requirement Compelling Value Proposition Messaging & Comm. Channels Creating Awareness & Demand Requirements Testing User Acceptance Feedback control Product Requirement, Definitions, Prioritizations Change Control Project Execution Understand the Problem Needs/ Wants Feasibility Competition Business Plan - P&L Strategic Roadmap Market Requirement
- 22. #2 BUILD THE PRODUCT LEADERS CAREER LADDER 70% PMs felt that their company/HR doesn’t understand the PM Career Path
- 23. Business Analyst, Project Mgr, APM/ TPM PM Sr. PM Group PM Director PM VP PM SVP/GM TYPICAL CAREER PATH LADDER & TRIGGERS Product Module Owner Product Features Owner Product Business Owner Product Line Owner Portfolio Owner Product BU Owner CEO
- 24. #3 DEPLOY THE RIGHT RESOURCE NEW V/S EXISTING PRODUCT - ITS DIFFERENT! Can I find water in my tap? (Leveraging Corporate Resources) Can I find water? (First 100 Customers)
- 25. MANAGE THE BIG SHIPGET SH!T DONE 20% 40% 40% NEW INITIATIVE Leadership Functional Domain 50% 30% 20% FLAGSHIP Leadership Functional Domain #3 WHAT HIRING MANAGERS ARE LOOKING FOR? NEW V/S EXISTING PRODUCT - ITS DIFFERENT!
- 26. Annual Baseline Research for Product Management in India 71% of Product Managers spend time in Requirements Management 85% of the Product Managers come from a Technical/Engineering background Median Salary for a PM is 34 Lakhs INR (2 years of experience) 46 different titles found for the role Source: 2nd Annual Baseline Research 2015, Institute of Product Leadership
- 27. 3 TIPS TO GET STARTED INVEST IN A TALENT TRANSFORMATION PROGRAM THAT HELPS GIVE YOU RELEVANT SKILLS TO ACCELERATE. DEVELOP VOICE OF CUSTOMER CHANNELS WHERE EMPLOYEES CAN NATURALLY IMMERSE AND CONNECT. SUPPORT, PRODUCT RELEASES, SALES TRAININGS, EXTERNAL EVENTS ETC. RESKILL IMMERSE MANDATE STRONGER INTERLOCK FOR EMPLOYEES WITH THEIR CROSS FUNCTIONAL BUSINESS COUNTERPARTS AT HQ & CUSTOMER BOARDS INTERLOCK
- 28. KNOWLEDGE PARTNER FOR PRODUCT ORGANIZATIONS www.productleadership.com Engineering Leader to Product Leader Pinkesh Shah pshah@ipl.edu.in
- 29. Product Leader understands and is actively involved in the entire productizing process and makes functional decisions contextually.
- 30. Who is our product for? Why do they need it? Why do they prefer us?