effective product management

Delegates will learn
  • How to define the role of product management
  • How to manage the lifecycle of products
  • How to understand the forces at work in their internal markets
  • How to manage a portfolio of products
  • How to develop long-range and product development plans
  • How to market a portfolio of products effectively
Style

A 4-day intensive workshop with a mix of discussion and practical work that will provide delegates with the opportunity to practice the skills of Product Management learned on the course with a previously agreed subset of their own products. 

Target audience

Anyone with Product Management responsibility

Topics

SETTING THE SCENE

  • What is a Product?
  • Are all Deliverables Products?
  • The Need For Effective Product Management
  • The Role of the Product Manager
  • The Skills Required to be an Effective Product Manager
  • Self-Assessment (Preliminary to be done pre-course)

THE PRODUCT LIFECYCLE

  • Market Planning
  • Product Development
  • Product Launch
  • Product Growth
  • Product Maturity
  • Product Decline
  • Using a Boston Grid to Understand Product Positioning
  • Product Lifecycle Case Study

PRODUCTS AND THE MARKET

  • Identifying Your Target Markets
  • The Forces at Work in Your Market
  • Segmenting Your Markets
  • Researching Your Market & Mapping Influences
  • Positioning Your Products in the Market
  • Internal Marketing Case Study

MANAGING A PRODUCT PORTFOLIO

  • A structured Approach to Portfolio Management
  • Conducting a Monthly “P” Review
  • Using a Portfolio Balanced Scorecard
  • SWOT Analysis
  • Understanding Your Products Using Pareto Analysis
  • Setting Product Strategy Using an Ansoff Matrix
  • Using a Boston Grid to Manage Products
  • Forecasts, Budgets and Comparisons – Deciding What is Relevant
  • Defining Product Critical Success Factors
  • Portfolio Management Case Study

LONG-RANGE PRODUCT PLANNING

  • Definition of a Long-Range Plan
  • Benefits of Long-Range Planning
  • Long Range Planning Model
  • Long Range Planning Process
  • Components of a Long-Range Plan
  • Long-Range Planning Case Study

PRODUCT INCEPTION

  • The Impact of “Givens” on the design of New Products (e.g. Mandatory Usage, Distribution Channels, Perspective, etc.)
  • Product Development Workshops
  • Managing Creativity
  • Market Testing
  • Cost Benefit Analysis
  • Product Inception Case Study

PRODUCT RISK ASSESSMENT & PRODUCT RISK MANAGEMENT

  • When to Assess Risk
  • Situation Appraisal
  • Impact Analysis
  • Quantification of Risk
  • Avoidance and Mitigation
  • Risk Management Plans
  • Action Ownership
  • Product Risk Management Case Study

PRODUCT DEVELOPMENT PLANNING

  • A structured Approach to Product Development
  • Initiating Product Development
  • Product Development Roles & Responsibilities
  • Product Development Planning
  • Estimating Product Development Effort
  • Managing Product Development and the Triangle of Balance
  • Controlling Product Development
  • Product Planning Case Study

EFFECTIVE MARKETING

  • Defining Marketing
  • Marketing versus Market Communications
  • Types of Market Communications
  • Market Communications and Launching New Products
  • Internal versus External Market Communications
  • The Role of Marketing Agencies
  • Market Communications Campaign Planning
  • Market Communications Case Study

SUMMARY & CONCLUSION

  • Key Learning Points
  • Action Planning