Agile has taken the world of software development by storm and has now started to creep into the hardware space. However, less flexibility, more certification requirements, longer development times, and other challenges require a managed agility approach to being successful in managing hardware products.
More than half of IT projects and products fail. The biggest causes of these failures are resource misallocation and misalignment with business goals. Expertly crafted product business cases can help to mitigate both of these problems.
Miscommunication between product and tech teams is probably one of the biggest sources of resource waste in software development. The Technology Product Canvas helps product managers align their product roadmap with technical requirements and capabilities.
Many product managers will struggle to identify what makes an amazing product or service. The realities of running a successful business depend on the bottom-line financials. Product managers need to define and explain value in monetary terms to drive rapid adoption.
Product management can induce stressful sleepless nights. Early investments in sales enablement will provide a payback in having a strong, motivated, engaged and supportive team driving product success.
For product managers, KPIs are a powerful tool. They quantify team progress, the progress of the product, and the overall business. Product manager KPIs include specific metrics associated with the product, customers, and the overall process in bringing a product to market.
Smart software pricing strategies can make or break success. Pricing impacts design decisions and should be reviewed with the long term in mind.
Stay competitive and agile with pricing to keep ahead of the competition. A well-designed pricing architecture will simplify contract negotiations and new product introductions.