Top 5 project management tips for product managers.

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Top 5 project management tips for product managers.

  1. 1. INSTITUTE OF PRODUCT LEADERSHIP Webinar “Top 5 Project Management Tips for Product Managers”By O. Arivazhagan CEO, IIPM
  2. 2. STATUS QUO Products that INSPIRE Project & Product Managers and Products that put them in DESPAIR Project Management Tips for Product Managers
  3. 3. Products that inspire Project & Product Managers i-ROAD  Ultra compact & tandem two-seater  Helmet free & Air conditioned  Weight : Just 300 kg Seating : 2 pax Driving range : 50 km Width : 850 mm ( same as conv. 2-Wheeler)  4 in 1 parking  Zero-Emission (Low Co2)  Power Operated Project Management Tips for Product Managers *source courtesy : Toyota website
  4. 4. Project Management Tips for Product Managers *source courtesy : Toyota website i-ROAD Rear Front
  5. 5. Project Management Tips for Product Managers “In a talk show, Mr. Yanaka, the Project General Manager tasked with developing the i-ROAD, said his objective had been to create a fun-to-drive and convenient urban EV. The i-ROAD combines the ease of handling of a motorbike and the drive stability and comfort of a car. The automatic active lean mechanism, developed based on the body movement of skiers and running animals, gives the driver the sensation of being totally at one with the machine.” *source courtesy : Toyota website
  6. 6. Products that inspire Project & Product Managers e -TOILET A coin is dropped into the slot and bingo the door to the toilet slides open, the light and exhaust fan turn on. And after use, in case you forget to flush, the automated flushing turns on and sterilizes the commode too. Delight, the country’s first e-toilet unit, has been developed by Eram Scientific Solutions (P) Ltd. M.S. Vinod, Director of Eram, says this e-toilet is a result of a convergence of electronics, web and mobile technologies. Source courtesy: http://www.indiasanitationportal.org/
  7. 7. Product Recalls Put Project & Product Managers in DESPAIR  Nearly 4.3 Million vehicles were RECALLED by Global Giants, in last 6-10 months.  Millions of Dollars spent on Warranty Costs (Recall, Repair & Reship )  Defects range from simple headlight issues to software malfunction to oil leakage to fuel pump to steering column to engine fire Goal -----> Can we Work to Zero-Recall ??? Project Management Tips for Product Managers
  8. 8. Elicit Requirements from all Stakeholders to achieve Zero-Recalls Project Management Tips for Product Managers
  9. 9. “Elicit Requirements from all Stakeholders to………….”  Who is a Stakeholder?  Identify & Classify Stakeholders ( P-I Grid or Salience Model )  Involve Operational Stakeholders ( ex. Cell phone, Car, mouse, USB modem, Courier etc)  Beware of Scope Creeps - Use MoSCoW to prioritize  Bad News & Good News  Most NPD Projects FAIL (Cost or Schedule overrun or both) due to poor requirements  PMI has brought a new certification PMI-PBASM . The number of business analysis jobs is predicted to increase 22 percent by 2020, according to the U.S. Bureau of Labor Statistics*. ( This research indicates a growing need for professionals skilled in effective requirements management. The PMI-PBASM credential spotlights your ability to effectively work with stakeholders to define their business requirements, shape the output of projects and drive successful business outcomes.) Project Management Tips for Product Managers
  10. 10. High Power Low Low Interest High A G D C E Monitor (Minimum Effort) Keep Informed Manage Closely Keep Satisfied B H F Power / Interest Grid with Stakeholders Project Management Tips for Product Managers *source courtesy : PMBOK® Guide 5th Edition
  11. 11. Salience Model: Stakeholder Classification Project Management Tips for Product Managers
  12. 12. High-Grade does mean High-Quality Project Management Tips for Product Managers NOT ^
  13. 13.  Quality vs Grade  COPQ – The Untapped Gold Mine Project Management Tips for Product Managers
  14. 14. Quality vs Grade Quality & Grade are NOT the same Traditional Quality? “Degree of Conformance to Requirements / Specifications & fitness for use” Grade? “Grade is a category assigned to products or services having the same functional use but different technical characteristics” Low Grade is not a problem, but Low Quality is Project Management Tips for Product Managers
  15. 15. Quality vs Grade For example, It may not be a problem if a suitable low-grade hotel (2 Star) with limited no. of features / facility is of high-quality (Ex. no obvious defects in service, Hassle free Check-in / Check-out etc.) However, It may be a problem if a high-grade hotel (5 Star) with numerous additional features is of low-quality ( Ex. many defects in services promised, poor layout, unfriendly to physically- challenged, desired TV Channels not received, Valet Parking Not Available, Poor menu, Swimming Pool very cold etc, Check-in hassles ) Hence, Project Management Tips for Product Managers (Typical Product Example : Recalled Luxury Cars ) Low Grade is not a problem, Low Quality definitely is
  16. 16. Tip# 2 –continued COPQ – The Untapped Gold Mine Project Management Tips for Product Managers
  17. 17. Make Competition Irrelevant Project Management Tips for Product Managers almost
  18. 18. Focus on Life Cycle Cost (LCC) NOT on Delivered Product Cost  Project vs Product Life Cycle Costs  Value Engineer your Product Value entitlement ( Ex. Cell phones, Security fencing, Toilet door, Mosquito Bat, Laser pointer) Project Management Tips for Product Managers
  19. 19. Mitigate Risks in both Product Development & Operations Project Management Tips for Product Managers
  20. 20. Mitigate Risks by Prototyping & Designing Redundancy into system  Prototyping - Evolutionary Prototypes - Throwaway Prototypes  Redundant System Series or Parallel  Partial Redundancy  Total Redundancy A Case Study in point : Could MH 370 have been saved had it had 300% redundancy? Project Management Tips for Product Managers
  21. 21. Ethics in Engineered Products Project Management Tips for Product Managers
  22. 22. Tip # 5 - Design to Target, NOT to Tolerance - Avoid Loss to Society - Taguchi’s Loss function - Make yourself the guinea pig first (Dr. Jonas Salk) - Get “informed consent ” – Pharma products - Follow Good Manufacturing Practices (GMP) - Make Safety First, Security Next, Profit Last Project Management Tips for Product Managers Ethics in Engineered Products……
  23. 23. Project Management Tips for Product Managers Thank You
  24. 24. International Institute of Project Management (IIPM) Chennai - 600 017, Tamil Nadu, India. Mb:  00- 91- Web: www.iipmchennai.com Email: askari@iipmchennai.com Project Management Tips for Product Managers 98840 15136
  25. 25. Project Management Tips for Product Managers Thank You

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