INSIGHTOVATION® offers Product Marketing Management Coaching.
Clients are product marketing managers who are responsible for the strategic direction of the product line or product platform. Often it is described at the General Manager of the brand or product line. This includes NPD, Product Portfolios, Product Line Management, Strategy and Roadmapping. How all of these product management pieces come together and are linked to form a profitable business is the Product Marketing Manager’s role.
Product Marketing Managers are Special People.
Karen Dworaczyk, NPDP, INSIGHTOVATION, has over 35 years of professional experience, is a PDMA registered NPDP Education Provider, and follows the principles outlined in The Guide to the Product Management and Marketing Body of Knowledge: ProdBOK(R) Guide by Greg Geracie.
If you are a Product Marketing Manager or you are responsible for Product Marketing Managers call 585-820-7761, or message me at email@example.com for coaching. Start ramping up skills to deliver speed, efficiency and impact.
READ ON TO GET A FEEL FOR SOME OF THE THINGS WE COACH.
New Product Development (NPD) and Portfolio Management (PPM) are cross-organizational processes that are very different however they are tightly linked.
The NPD Process – often referred to as the Stage-gate Process- is the effective management of work flow, information flow and decision flow of 1 project to achieve efficiency and productivity. “Doing projects right”.
The work, information, and decision flows of the Stage-gate Process are the result of two way exchanges and communications with Portfolio Management Process.
Portfolio Management is the effective management and optimization of the set of projects and products within the entire product portfolio, “Doing the right projects”, for the purpose allocating shared resources such as time, expense, and capital to maximize results against the company’s strategic goals and return on investment.
Call it the NPD Singe Project Process or Stage-gate, there are best-in-class approaches to use the process along with Portfolio Management to drive speed, efficiency, and strategic impact, whether you are a small to medium size business (SME) or a corporate giant.
There are three product categories in the portfolio:
- Products in the Market
- Products in Development
- Products in Concept
We will look at all three categories in future knowledge-sharing posts on product portfolio management.
PORTFOLIO MANAGEMENT SUBPROCESSES
There are a number of subprocess within the portfolio management architecture. Each are related to each other. An experienced portfolio managers theoretical and working knowledge of the constructs of each subprocess and how each relates to the others. More importantly, the portfolio manager can explain this to process stakeholders.
The common portfolio management subprocesses:
- Business strategy
- Product line strategy
- Product line roadmapping
- Concept generation
- Concept feasibility
- Resource allocation
- New product development
- Lifecycle management
- Portfolio review
- Mix management
- Pipeline throughput management
It is possible to break each of these subprocesses into smaller fundamental building blocks. Each of the subprocesses and building blocks require knowledge and skills. Levels of capability for the skills and building blocks are built simultaneously to create a custom cross-organizational business process.
The overall portfolio business process and functional roles are well known by all departments. We will talk about how to get there in future knowledge-sharing posts.