Creating a Product Management Team from Scratch
3 likes2,224 views
The document outlines the process of establishing a product management team from scratch, emphasizing the importance of product management in businesses. It covers key steps such as defining products, structuring the team, developing processes, and training staff to ensure effective product management. Additionally, it highlights the need for clarity in roles, communication, and maintaining standards to foster a strong product management culture.
Creating a Product Management Team from Scratch
- 1. Creating a Product Management Team from scratch !!! 17th July 2016 Efficiency Through Ingenuity
- 2. 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 U C N AP D
- 3. 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)
- 4. 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)
- 5. Part 1 : Start with the facts
- 6. #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?
- 7. #1.2 : Where are the boundaries? Product IT SalesFinance OperationsClient Support
- 8. 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!
- 9. 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% 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)
- 10. 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?
- 11. 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?
- 12. Part 2 : Build the structure
- 13. 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
- 14. 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? 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
- 15. 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
- 16. Part 3 : Develop the team
- 17. 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
- 18. 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”
- 19. 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)
- 20. Step #3.4 : Ensure clarity & consistency | 2828 2012 PMM Timetable Q2 Q3 Q4 Q1 By 31 Mar All ProductPlans reviewed byBusiness / SegmentHead 15-17 May All ProductPlans formally reviewed by P&CS 2 Jan PMM Launch July/Aug Budget Cycle By 29 Sept All ProductPlans reviewed by PeerGroup By 15 Dec All ProductPlans reviewed byInternal ClientGroup PMs to construct first 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 confirmed 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”
- 21. Step #3.5 : Keep standards high Product Financials Product Plan Quality Annual Formal Presentation 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!
- 22. Thank you! Bill Gourlay CEO, Idea Group bill.gourlay@ideagroup.co.uk www.ideagroup.co.uk / www.prodigyproduct.com Efficiency Through Ingenuity