Tuesday, June 13, 2017

Key Product Management Principle - People are the core Asset

2017 is turning out to be a tumuntous year for IT industry worldwide. Large established IT companies such as Cisco, HPE, Dell-EMC, IBM are serious cutting down costs.  Unfortunately, companies tend to look at people as "expenses" and layoffs have become common.

Product managers have From a product managers often answers three main questions:

1. Where is the Product Today?
2. Where do we want to take the product & by what time?
3. How can the team get the product there?

Therefore, product managers have a different view when it comes to employees. From a product development perspective, people are "assets" - especially engineering teams and customer facing teams. Success of new product development depends of people.

Product managers treat people as true assets as the success of the new products - which creates future revenue for the company. Without people, the new product will never be able to reach its intended goal.

In IT, engineers and their intellect, skills, knowledge, character, integrity are - the true value in any organization. Because of the nature of IT product development, it is vital that product managers treat their engineering colleagues as true assets.  Product manager must spend time with the team. This means talking with them, listening to their concerns and fears about the current phase of the project, and occasionally taking them out for lunch. ( Lunch is a truly amazing way to motivate people)

Product managers have to make the team members feel valued. That's when engineers they care more about the product on which they are working. Face-time with the team also helps product managers understand individuals and personally assist them. Time spent with the team pays financial dividends as high-quality products make it to market on time and with enough vitality to excite the sales force.

Closing Thoughts

When product managers focus on the people with whom they work, the products succeed as a result.


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