In product-based companies, an executive champion should provide the vision, strategy, product goals and governance policies. This is rather important as product management extends horizontally as an integrative function.
A product management executive champion should be appointed to establish a powerful product management office (PMO).
This office is not a single person; it is a subset of people from the leadership team. However, the leader of this team should be a REAL Champion.
What does it mean to be a product management champion?
Sequentlearning defines 12 points that describe what should be done to improve a product management champion’s role:
- Establish the proper level of investment. It is vital to establishing a market.
- Set the basement of the vision, goals, and strategies.
- Create an investment management council for the review of business cases and other programs.
- Define the innovation or new product development process model.
- Determine other processes that impact the business of products.
- Clarify dimensions of the ecosystem of customers, suppliers, and key players.
- Explain parameters for reprioritization.
- Set forth the requirements for financial and non‐financial data collection and measurements for the product.
- Choose the key PM tools, documents, and templates.
- Guide the formation of cross‐functional product teams that are designated to manage product lines across their life cycles.
- Practice knowledge sharing, information exchange, and other supportive efforts.
- Create something like PM job family guidelines.