What Are the Key Responsibilities of IT Product Managers?
Product managers are responsible for product success. What does it mean?
They manage cross-functional teams, determine the strategy, important functions of the product or the product line and visualize a roadmap. This role may include marketing functionality, forecasting profits, and possible losses.
Product managers work on developing the product concept, trying to differentiate and provide a unique value based on the requirements of customers.
The article posted on Hygger.io proposes to dive into the responsibilities of IT PMs. Here are the most interesting moments from their blog:
IT PM’s responsibilities
There are four core separate areas of PM’s responsibilities:
Strategy
PMs are responsible for the vision of the product lifecycle and the setting of a global strategy. Their important objective is to clearly articulate and justify the business value of the product for the team so that everyone understands the importance and usefulness of releasing a new product.
Prioritization
Companies always strive to develop the best ideas for implementation. But if there are many of them, it is not always easy to determine priorities. The product manager’s responsibility is to study and analyze ideas and manage their priorities.
They quickly decide what idea to promote for its soonest transformation into a product feature, and which one is better to forget.
Analysis
One more important responsibility of product managers is feature analysis. They analyze the features, comparing them with the strategic goals and initiatives of the company.
It requires the adoption of complex trade-offs, because efficiency must be high both for customers and the company.
Releases
Product managers are also responsible for the process of release and the coordination of all actions before the product enters the market.
It’s about the removal of obstacles, bugs fixing, internal reconciliation between marketing, support and sales teams.
There is the fifth additional responsibility, which also plays important role in the product lifecycle. This is about selecting an appropriate product management tool to manage all internal and external processes.
A modern product manager is like Batman who manages the outcome of the product and controls most of the processes. How do you evolve the fields of PM responsibilities?