PHASE 8: PRODUCT MANAGEMENT PROCESS
Execute a methodology that moves a product from ideation to launch and beyond
Product launches have a 70-90% failure rate, primarily due to loose product management processes. Steps are improperly approved or completely skipped that would confirm a solution solves a market problem, the user design experience is validated, the marketing, sales and customer success teams are prepared for the product launch, and post launch processes are properly executed. The right product management processes will ensure product ideation is vetted and validated throughout the process, so you can commercialize the innovation and have a successful launch.
1. Your new products are successful when launched.
2. A product lifecycle framework exists and is used throughout the life of a product.
3. A RACI has been developed that describes the roles and responsibilities for all product stakeholders.
4. Your cross functional teams have a regular cadence to discuss the product vision, direction, and status of products.
5. Using a research-based approach, your product managers are consistently gathering and using marketing intelligence to incorporate into your product roadmaps.
6. Using a research-based approach, you have a methodology that validates the viability of product concepts that solve market problems.
7. Using a research-based approach, you have a methodology that validates product prototypes with potential customers.
8. Using a research-based approach, your product portfolio and integration opportunities are considered and incorporated into each product roadmap.
9. Using a research-based approach, a product review is conducted to ensure your products are aligned with opportunities and trends.
10. Using data-driven models, KPIs have been developed to monitor the health of a product as it matures.
• Documented Product Management Methodology (Agile, Waterfall, Lead, etc.)
• Go/No-go Gating Criteria
• Product Management Dashboard
• Project Plan
• Pilot Test Plan
• Agile Development Plan
• Interlock Dependency Matrix
• Meeting and Interlock Cadence