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Guide To Facilitating Digital Product Management

by Talene Pittaway

The discipline of managing product portfolios end-to-end is so relevant in our current dynamic as it helps organisations keep pace with change and customer expectations. When done appropriately, digital product management can even help you meet aggressive cost-out objectives in addition to your growth targets.

Technology product management leaders must look to improve and transform product management processes, tools and people to stay competitive in the rapidly evolving market.

Emil Berthelsen - Senior Director Analyst, Gartner

 

This emerging framework gives product teams critical new insights to be more strategic about product transformation. These product transformations provide an opportunity to simplify and divest of features and products that are in the sunsetting phase. This means you can be ready for growth in disruptive environments with the right lean product mix and world-class customer experiences.

In traditional project-based product management, product owners and product managers have specialised, limited scope, focusing on planning and designing a new product for launch followed by handover to the operational team to manage post-launch.

 

Product management leaders need to be able to efficiently manage not only evolution and innovation in product portfolios but also released and launched products and their upgrades, including service and end-of-life products.  - Gartner

 

The emerging Digital Product manager owns the product lifecycle end-to-end and streamlines the customer journey to create compelling and profitable products. The focus of cost-effectiveness and product margins is crucial in our 2020-21 outlook.

Skyjed is an end-to-end digital product management tool to audit and measure product health. It helps product teams make data-driven decisions for growth and success.

The software's fundamental difference is that it provides you with an innovative digital product management platform as a means of building product led growth and profitability in your organisation with:

  1. Continuous product monitoring and assessments – called product audits. Product audits are useful to set growth plans and support end of life divestment decisions
  2. Product domains and drivers that cover the full spectrum of product hygiene factors from market and revenue to cost, customer, innovation, and regulatory obligations.
  3. Product health-check scores presented in automated reports that are Board ready. These reports save time and can be shared across many stakeholders and teams.
  4. Action management – including automated improvement plans for strategic actions and risk mitigation. Innovative teams are now moving to 90-day product plans with weekly reviews of action plans with their virtual teams. All this happens in virtual workspace in real-time not in shared drives or emails.

 

Developing framework and process

Product teams can use bespoke frameworks or a range of tools and analytics dashboards to manage end-to-end. With innovative solutions like Skyjed, product governance and processes are all automated in a SaaS platform. This saves product teams lots of time – so the focus can switch to future growth and differentiated offerings.

Adopting Skyjed’s cloud solution means you can get started in minutes and have your own personalised product workspace. You can invite virtual team for the ease of collaboration and professional input to your product strategy and improvement actions.

 

The Skyjed product lifecycle management and governance platform provides organisations with a 360-degree view of their product portfolios health and risk status while facilitating collaboration, transparency and product trust in the day to day operations of the organisation.

Topics:Product Management TrendsDigital Product Management