10 papers analyzed
These studies suggest that effective and empowered product management improves project success rates, integrates resources, enhances product and company differentiation, and reduces costs while increasing quality and communication.
Product management is a critical function in both software and consumer goods industries, ensuring the successful development, launch, and lifecycle management of products. It involves a range of activities from defining product requirements to coordinating with various stakeholders and managing the product's market performance. This synthesis explores the key insights from multiple research papers on the role, impact, and best practices of product management.
Role and Impact of Product Management:
Success Factors in Product Management:
Challenges and Solutions in Product Management:
Product Management in Software Development:
Project Management and New Product Development (NPD):
Control Mechanisms in Product Management:
Product management is a multifaceted discipline that significantly impacts the success of both software and consumer goods products. Key success factors include a consistent and empowered product management role, clear product definition, and effective resource allocation. Challenges such as insufficient foundational work and lack of integration can hinder the potential benefits of product management. Involving major account users and adapting project management methods to better serve NPD processes are effective strategies to overcome these challenges. Overall, the role of product managers is crucial in ensuring the alignment of technical and business perspectives throughout the product lifecycle.
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