Managing Products

Product Management

Bringing new products to market and overseeing its entire lifecycle.
Flexible Schedule
Invest 20 minutes a day
0 Credentials
Accredited by ICAgile
28 Cohorts
4 Active this week
  • something
  • Estimating and Forecasting
  • Market Research and Conceptualization
  • Prioritization
  • Product Analytics
  • Product Management
  • Product Specifications and Requirements
Product management is an organizational function within a company dealing with new product development, business justification, planning, verification, forecasting, pricing, product launch, and marketing of a product or products at all stages of the product lifecycle. The role may consist of product development and product marketing, which are different (yet complementary) efforts, with the objective of maximizing sales revenues, market share, and profit margins.

Domains in this track

Estimating and Forecasting

Estimating and Forecasting is the process of making predictions of the future based on past and present data and most commonly by analysis of trends. It involves predicting some variable of interest at some specified future date, may refer to formal statistical methods or to less formal judgmental methods. Risk and uncertainty are central to estimating and forecasting, where one of the variables is the degree of uncertainty while another is the validity of the data that is being predicted on.

Market Research and Conceptualization

Also called Product Discovery or Idea Generation, this is the activities conducted to figure out what should be built. Users are either studied or researched, a market size is estimated, possible product ideas are generated/aggregated and finally a business case is prepared to be presented to stakeholders.

Prioritization

Prioritization is the activity that arranges items or activities in order of importance relative to each other.. In order to prioritize, one first must decide on what variable to prioritize on - be that time, money, effort, difficulty, or expertise. Requirement prioritization is used in Software product management for determining which candidate requirements of a software product should be included in a certain release. Requirements are also prioritized to minimize risk during development so that the most important or high risk requirements are implemented first. Several methods for assessing a prioritization of software requirements exist.

Product Analytics

Product Analytics allow each feature of a product to be estimated, measured and tracked against a desired revenue forecast. KPIs and Metrics allow companies to monitor product success, while Data Analysis allows organizations to identify and quantify specific user behaviors in order to validate product hypothesis. Finally, A/B Testing allows organizations to try out possible solutions with test users before rolling out to the entire user base.

Product Management

Product management is an organizational function within a company dealing with new product development, business justification, planning, verification, forecasting, pricing, product launch, and marketing of a product or products at all stages of the product lifecycle. Similarly, product lifecycle management (PLM) integrates people, data, processes and business systems. It provides product information for companies and their extended supply chain enterprise.

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Product Specifications and Requirements

Requirements, or Product Specifications is the document that includes each and every piece of information about the product to be built. This is the document various teams, such as engineers, quality analysts, etc., refer to in order to to understand, in detail, what needs to be built and how it is going to interact with various other systems that are already present.

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