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Product Management Strategy and Product Governance
- 2. Who are we? 2 https://www.linkedin.com/in/davidjdunning/ https://www.linkedin.com/in/pamela-schure/ Business Integrated Governance CIC CEO Deepteam, Chairman CPS, Director Core P3M Data Club Lead author on Business Integrated Governance – Product Integration BSI G1 Governance Committee Member https://www.deepteam.co .uk/ https://www.cps.co.uk David Dunning Product Manager & Consultant Co-author "Product Management for Dummies" 25+ years' experience in product management, product marketing, and own businesses Consultant for Fortune 100 companies in product Product management & Agile Curriculum development and delivery Pamela Schure https://www.Corep3m.club https://www.linkedin.com/groups/13651399/
- 3. Agenda ◉ Product Management - Definition (AIPMM.com) ◉ Strategic Context - Value Creation, Business as Usual and Change ◉ Product Lifecycle – Depends on the product ◉ Development Cadence – Defined management method ◉ Delivery Method – Continuous, finite, hybrid ◉ Conclusions 3
- 4. Definition for Product 4 Defining Organisations • AIPMM • ProdBOK • Agile Alliance • Scrum.org Product Management “Offers” - Implies Externally • Product • Capability • Asset Product Management ◉ Focussed on achieving directional future state, outcomes ◉ Realising benefits as defined in a vision, through a roadmap, using a cross-functional organisation. Product Solution offering - consisting of tangible and intangible components that meets or exceeds customer expectations and that delivers a benefit to the organization that offers the product.
- 5. 5 Strategic Context Strategic Context Strategic Steer Market Need Product Product Product Internal Stake- holders Strategic Steer Tech Opportunity Enabling Capability Capability Capability Internal Stake- holders Digital Portfolio https://www.deepteam.co.uk/digital-transformation-line-of-sight
- 6. Conceive Plan Develop Qualify Launch Deliver Retire Product Lifecycle Cadence of Development 6 Source © 1998-2023 AIPMM Gate Product Lifecycle In Development In Market Fast and slow consumption New Product Development / Acquisition Introduction Growth, Maturity, Decline Withdrawal Not to scale! Product Management
- 7. Many kinds of product! 7 Consumed Immediately! Manufacture Sustain the Capital Market Consumed over years Build Sustain the Asset Sell and Upgrade Consumed over years Manufacture Planned upgrades Sell and Service Consumed Quickly! Continuously Develop Sustain IP Market Product Lifecycle Other brands available! Internal Finance System Capability Consumed Slowly! Continuously Develop Sustain IP / Usage
- 8. Product Management Delivery Methods Delivery Method Finite Series of justified and controlled projects / programme – Outputs and outcomes Continuous Business as usual - business plan – Targets - KPI / KRI Hybrid Original Programme – Continuous Development – BAU, Value Creation & Change - OKR Programme BAU ALL Project
- 9. Engineering Develop Sales, Marketing, Service Manufacturing Refresh Build • Engineering project to develop v1 Slower Cadence Products Product Management Conceive Plan Develop Qualify Launch Deliver Retire • BAU activity to support • Mid-life refresh based on business case • Asset creation project to build manufacturing capability Cadence Retire • Change project to build tech support and business capability Change Refresh
- 10. Faster Cadence Products Cadence Product Management Conceive Plan Develop Qualify Launch Deliver Retire Engineering/Development ProdOps/Service Sales, Marketing • Engineering project to develop v1? • BAU activity to support • Dev may continue… • Mid-life refresh based on business case • Change projects to build tech support (if sperate) and business capability Retire? Build Change May not retire! Develop
- 11. Where Product Emphasizes… ◉ Customer empathy / validation ◉ Design thinking ◉ Customer Ensure all Personas are taken into account ◉ Ongoing performance evaluation ◉ Roadmap 11 It’s all relative! Conclusions
- 12. Conclusions 12 Product – central to strategy Product - more Continuous or Hybrid Delivery Product Governance - by type of Product Product - not just initial creation Horses for courses… Conclusions
- 13. Thank you for Listening 13 https://www.linkedin.com/in/davidjdunning/ https://www.linkedin.com/in/pamela-schure/ CEO Deepteam, Chairman CPS, Director Core P3M Data Club Lead author on Business Integrated Governance BSI G1 Governance Committee Member https://www.deepteam.co .uk/ https://www.cps.co.uk David Dunning Product Consultant Co-author "Product Management for Dummies" 25+ years experience in product management, product marketing, and own businesses Consultant for Fortune 100 companies in product management Product management & Agile Curriculum development and delivery Pamela Schure Product Management for Dummies https://www.amazon.co.uk/Product-Management-Dummies- Brian-Lawley/dp/1119264022 Product Governance https://corep3m.club/product - click on the link in the page for details…
Editor's Notes
- PMI UK Hybrid Event: Project vs Product Management: Understanding the Parallels and Intersections. 22nd June 2023 There is a lot more conversation on LinkedIn currently about Project and Product Management. It appears the world is waking up to these disciplines as means to deliver strategic outcomes. But what to use when, how do they work together, and how do they fit our strategy operating model? This session aims to analyse similarities and differences between these two roles and better focus the character of these two professions. How do you work with these capabilities from a strategy perspective, and where do these fit into your integrated governance? Read more about the subject and post event report - https://www.deepteam.co.uk/product-management-vs-project-management Previous similar events: From Strategy to Value - and Back Again https://www.deepteam.co.uk/value-generation-driving-and-driven-by-strategy Product Management Governance in BIG https://1drv.ms/w/s!AscRj7Bfp6vQgv8eKuONh6iIHrK2qQ?e=6ztkIk
- Additional Points noted from previous discussions - The people working for you while managing a product may not report to you – integration from all over the organisation - Product = An octopus – pulling people together
- On the left Organisation context: External factors influencing of the organisation defines its opportunities, threats, imperatives and goals A purpose driven organisation will evaluate and define strategy Strategy turned into actionables via objectives for change, targets for performance, and challenges for innovation. On the right Strategic steer to develop / sustain assets / deliverables through which value is generated Change needed to develop / sustain BAU needed to develop / deliver Adoption and sustainment of product
- For many of us in P3 world, product is either something developed, a component, or an output from a project (method redesign, gearbox design, office move). For others it is also something that becomes an asset to be managed (e.g. a ship, a railway, a shared services centre) or something that is manufactured and consumed (car, ice cream) or something that is evergreen (software, craft beer, service etc.) Lifecycle works for all product types – bur with different emphasis in each case. Qualify is market test, not technically test. Some may have parallel steps, and cycles – iterations – and may be persistent.
- Kit Kat - Fundamental product static, marketing changes Software - Product rapidly changing – or in the case of solution – less quickly! Brand develops, product evolves & step changes Car - Brand develops, product evolves & step changes Battleship - Product evolves & step changes
- Projects are good methods to develop, build, change, refresh and retire BAU management to deliver This scenario pulls the teams into projects to work on products. Scope may be firmer, timing firmer, resource / funding set.
- Design delivery - less project like – ‘BAU projects’ was a term mentioned Project is not necessarily the way to develop product Puts the work through teams designed to work on products. Scope flexible, time windows set, resource / funding constrained
- These are generalisations, argument as follows: Customer empathy – product manager is the voice of the customer – project manager is the delivery lead Design thinking – product managers tend to have more subject matter expertise in their product Customer validation – “senior user” on project board Ensure all Personas are taken into account – project executive on project board Ongoing performance evaluation – programme manager – benefit realisation Roadmap – programme manager