The Future of Product Management
I've been a senior-level product manager in technology and manufacturing since 2004, and I've seen many changes in the specialty and in how companies deploy them. Here are my predictions for the future of product management.
The specialty that was product management will be divided into three parts.
One part will be given to the project management office to run. This is due to the belief that successfully managing a product line can be done as a project. For about 30% of the role, they are right.
60% will be divided among engineering, sales and marketing who will focus mostly on their expertise and therefore any cohesive, long-term strategy will be difficult to achieve.
The remaining 10% will be left to the remaining product management department who will attempt to create a coherent business model from the non-coherent input from the groups mentioned above. They will have some input into the product definition, but will not lead it.
The end result of this will be lack of a cohesive product strategy that ensures continual turmoil on both the product development side and the revenue and profitability side.
This turn of events will be a great advantage to the firms who treat product lines as businesses and install leaders (aka Product Managers) who run them as a business.
If you'd like to discuss how to improve your product commercialization efforts, call me at 970-578-0915.
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