Date post: | 20-Jan-2017 |
Category: |
Business |
Upload: | jeremy-horn |
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My background
• CEO of Idea Group, a business process improvement
consultancy
• 23 years of experience in financial services & technology
• Broad range of roles across sales, product, marketing & ops
• Lived in UK, Luxembourg & New Zealand
• Most recent roles had global responsibility, including one
covering 204 sales markets and plenty of air miles....
Days by region
UKN
CE
NAM
AP
DV
Days by region
UKN
CE
NAM
AP
DV
Why this topic ?
• Product management SHOULD be a fundamental part of every
business
• Incredibly this is not the case and many firms STILL don’t have
a dedicated product management team
• As awareness rises, one day YOU might be asked to set a
product management team up
75% of Product Managers indicated that their company executives
did not have a good understanding of their role and its importance*(*LinkedIn Group Survey, 280 Group LLC. 2014)
Why “from scratch” ?
• Businesses have often not given any thought to product
• No one has an opinion, until you express one ... !
• Is that blank sheet of paper as blank as you think?
• What are the hidden pitfalls to avoid?
29% agreed with the statement “Our executive team completely
understands Product Management and the value it provides to the
company”
(**Challenges in Product Management Survey, 280 Group LLC. 2015)
#1.1 : What does “Product” mean?
•Has the firm given any consideration to what Product is?
• What is considered a product by the firm?
• Is the owner also the builder?
• Are the products sold “as is”, or packaged in some way?
• Do external parties have a significant influence over products?
Step #1.3 : Broader terminology?
• Have the major terms been defined?
• Has this been agreed & accepted?
• Can you draw a line underneath this?
If you’re a business, rather than an
academic institution, don’t get distracted
by excessive navel gazing!
Step #1.4 : Human Resources?
•How many staff, or headcount, are available?
• Are there enough to cope with the available products?
• Have any of them got product experience?
• Do they have sufficient business knowledge?
56%44% Average or below
Above average
Skill
Level
**
56% of Product
Managers believe
that their company’s
product skill
level is “average” or
worse.
(**Challenges in Product Management Survey,
280 Group LLC. 2015)
Step #1.5 : Process expectations?
• Is there a process today?
• What parties are involved today, and will they continue to be involved?
• Do all parties realize, and accept, that things are going to change?
• Do you understand the approval levels & processes within the
organisation?
Step #1.6 : Any budget?
• Can you hire any additional staff?
• Can you undertake any additional training?
• Can you bring in any external consultancy resources re best practice?
• Can you bring in any additional technology to assist your teams?
• Can you bring your team together for an offsite to build the culture?
Step #2.1 : Define your products
• What products do you have?
• Where do they start, and where do they finish? Any overlaps?
• What stage of life are they at?
• What information is held about them today?
• Is there a natural “expert” on each one?
LAUNCH
GROWTH
MATURITY
DECLINE
Step #2.1 : Team shape
• Will you be structured by business, product, segment, region or other?
• Does the buck stop with one person per product, or multiple owners?
• How do reporting lines work? Will dotted v matrix cause confusion?
• Who sits at the top? Do you have a Practice Leader?
• Can you form a governance group?
| 2929
Governance Group
Throughout the Tarigo training sessions, and subsequent PMM evolution,
the need for a Governance Group has become apparent :
• Should be the ultimate decision point for all changes to PMM practice
• Should be chaired by the PMM Practice Leader
• Should be made up of representatives from each level & business line
• Should be held on a regular semi-annual basis, allowing settled practices
• Should not be a forum to retrospectively approve ad-hoc changes
• Should not be too large to allow effective dialogue
Governance Group Confirmed as :
Bill Gourlay (Temp Chair), Allyson Boode, David Dibben, Mandeep Dhillon, Manoj Ketkar, Martin Bock & Stephanie Knox
Step #2.2 : Process shape
• How will you structure your product process?
• Will you adopt waterfall, agile or a combination of models?
• How many different workflows will you require?
• What are your documentation and approval needs through the process?
In-life
Plan Build LaunchAssess Retire
New Product Introduction
Manage
Step #3.1 : Assess & Train
• Evaluate all of your teams capabilities
• Undertake full training, but be realistic re capabilities
• Ensure everyone has adopted your new process
PMM
launch events
Wk of
Jan 16
2 x
PMM training
sessions
Wk of
Dec 5
5 Products
trial PMM
Nov 2011
2 x
PMM training
sessions
Wk of
Dec 12
PMM officially
launched
Jan 2nd
2012
5 35
Step #3.2 : Keep help at hand
• Product champions in all regions / offices
• Support that is easy to access
“A Bank”
• Involve other business units
• Keep communication levels high
| 31
Build The Community
INDIAN
CALL
ATLANTIC
CALL
PACIFIC
CALL
“A Bank”
Step #3.3 : Raise expectations
| 11
PRODUCT BOARD
•Consisting of up to 8 members of the management team
• 30 uninterrupted minutes for you to present
• 15 minutes of focussed Q&A
• Presentations should be delivered using the Product Plan only
• The Management team will issue a scorecard to assist Garry Avery
(IN THE BELFRY ROOM)
| 12
PRODUCT CLINIC
• Usually held soon after your Product Board presentation
•A full hour of 1-2-1 time with Garry Avery
• Using his pre-reading to suggest improvements to the plan
• Using the Board scorecard to highlight strengths & weakness
•Creating a roadmap to take you forwards to May’s P&CS session
(IN THE WENTWORTH ROOM)
Step #3.4 : Ensure clarity & consistency
| 2828
2012 PMM Timetable
Q2
Q3
Q4
Q1
By 31
MarAll Product Plans
reviewed by Business
/ Segment Head
15-17
MayAll Product Plans formally reviewed
by P&CS
2
JanPMM
Launch
July/Aug
Budget Cycle
By 29
SeptAll Product Plans
reviewed by
Peer Group
By 15
DecAll Product Plans
reviewed by Internal
Client Group
PMs to construct f irst version
Product Plans
PMs to make presentation
version of Product
Plans with 2013 visions
P&CS Mgmt to agree
& announce
budget priorities
PMs to construct 2013 focussed Product Plans
and Marketing Plans.
Amendments to be made as 2013 budget conf irmed
PMs to communicate & evolve 2013 focussed Product Plans
and Marketing Plans.
Discussion to be undertaken re 2013 sales targets
= Product Manager Forum = PMM Governance Group NB : Additional P&CS Meetings now added !
“A Bank”
Step #3.5 : Keep standards high
ProductFinancials
2nd Qtr
3rd Qtr
Slice 4
Product
Financials
Product
PlanQuality
Annual
FormalPresentation
Collaboration
• Stick to the process that you have created
• Make improvements when & where it makes sense
• Appraise teams based on relevant criteria
• Build a product management culture & identity
• Don’t let standards slip!
Thank you!
Bill GourlayCEO, Idea [email protected] / www.prodigyproduct.com
Efficiency Through Ingenuity