The goal of product management is to coordinate and oversee each phase of the product lifecycle. It encompasses a wide range of responsibilities, from marketing to investigative analysis. You can learn more about the product management process and requirements in the following article. 

Product management is the process of developing, doing market releases for, and managing a product or service. A product manager is responsible for the success or failure of the product. As the leader of a product management team, you'll facilitate collaboration with cross-functional teams to ensure that a product meets both business goals and the customer’s needs. 

PLM is a type of product management that focuses on supporting products in unique ways that directly correspond to each phase of the product lifecycle. To learn more, check out the following article: What is PLM? Product Lifecycle Management Career Guide

Learn more: Product Manager vs. Project Manager: What’s the Difference?

Agile product management is a method of product management often used for software products. It aims to increase the speed and efficiency of product development and release. Agile product management is based on the Agile Manifesto, which emphasizes collaboration, customer focus, and iterative development.

Key concepts include prioritizing features based on customer feedback, encouraging effective communication and collaboration between product teams, and streamlining the development cycle for faster production of high-quality products. Many product managers use an Agile approach to the product lifecycle.

Learn about the digital product management process and how to manage it with Agile in the University of Virginia's Digital Product Management Specialization.

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Implement a modern approach to product management. Master the fundamentals that create great teams and products

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hypothesis-driven development, Product Management, Design Thinking, agile, Lean Startup, Product/Market Fit, Innovation Pipeline, agile user stories, User Experience Design (UXD), Agile Software Development, Software Development, Usability Testing, Continuous Delivery, agile product management, backlog management, Kanban, XP

The product management process is the set of activities and protocols that helps guide you as you conceptualize, build, and launch your product to the market. It includes the following steps:

The first step in the product management process is identifying a high-value customer pain point. This involves understanding the needs of your target market and determining which problems are most important to them. Once you have identified a problem that is causing significant pain for your target customers, you can begin quantifying the opportunity.

The next step is quantifying the opportunity. This involves estimating the market size for your solution and assessing the potential revenue that could be generated. This step is important for setting realistic expectations for your product and ensuring that it is viable from a financial perspective.

Once you have quantified the opportunity, the next step is researching potential solutions. This involves exploring different ways to solve your identified problem and assessing its feasibility. You’ll need to consider technical and non-technical solutions during this research stage.

After researching potential solutions, the next step is to define a minimum viable product (MVP). This involves specifying the essential features that your product must have to be successful. The MVP will address the pain point of your target market and be achievable within the resources available to you.

A feedback loop is an important part of the product management process as it allows you to gather user feedback and make necessary changes to improve your product. Feedback loops should be created early on in the development process so that you can gather input from users throughout different stages of development

Once you have defined your MVP, the next step is setting the product’s market release strategy. This involves deciding on pricing, distribution, marketing, and other factors that will impact how successful your product will be. Setting a clear strategy from the outset will help ensure that your product meets its targets when it launches.

The final step in the product launch process is driving execution. This involves ensuring that all aspects of development are on track and that your team is working towards delivering a high-quality product. Monitoring progress against milestones and making necessary adjustments through iterations in the product lifecycle is also important.

The product process then moves through sales and marketing, with a constant feedback loop helping you to evolve the products and strategies. 

Product and project management tools are essential for any organization that wants to ensure that its products are well-designed, well-made, and meet the needs of its customers. Consider your organization’s specific needs, and use them to determine which tools you'll need to use. A few tools to consider include:

Jira Align. Jira Align is product management software that enhances cross-team collaboration through the use of dashboards and a shared product roadmap document. Notable features include simulations to weigh risks and potential outcomes and backlog management. Want to practice working with Jira hands-on? You can enroll in a 2-hour, online Guided Project: Get Started with Jira for free.  

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In this project you will create your first project in Jira using a Kanban board for agile methodology, creating issues, epics and tasks, setting up WIP ...

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proejct management, Agile Management, JIRA, Agile Software Development

Asana. According to G2, Asana is the #1 project management software tool. Key elements include enhanced data reporting and visualization features, cross-collaboration tools, and resource-matching for strategic planning. 

Monday. Monday is a product management tool specializing in KPI tracking, integrative product roadmaps, hands-on task management, and single-source data visualization. 

Product management can be a challenging and rewarding career, and certifications and Professional Certificates can help you take your job to the next level. Here are two Professional Certificates offered by industry leaders on Coursera that can help strengthen a product management career.

In this beginner-friendly, self-paced online course, you'll learn essential project management skills like change management, risk management, stakeholder management, and project planning and procurement. Upon completion, you will earn a career certificate from Google for your resume and connect to over 150 US employers. 

professional certificate

Start your path to a career in project management. In this program, you’ll learn in-demand skills that will have you job-ready in less than six months. No degree or experience is required.

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Organizational Culture, Career Development, Strategic Thinking, Change Management, Project Management, Stakeholder Management, Business Writing, Project Charter, Project Planning, Risk Management, Task Estimation, Procurement, Quality Management, Project Execution, Coaching, Influencing, Agile Management, Problem Solving, Scrum, Effective Communication

This foundational online course is offered by Advancing Women in Tech (AWIT). In addition to key project management skills, this course focuses on technology leadership, go-to-market strategy, B2B sales, and monetization strategy. 

specialization

Sponsored by AWS.. Is product management right for you? How do you get your first, or next, product management role? Learn from Nancy Wang, one of the youngest general managers and director of product and engineering at AWS, and 20 other real, full-time product leaders, including CEOs, who make hiring and promotion decisions across the industry! Learn from the same playbooks as Amazon, Google, Meta, Microsoft, and startups! Hone your skills with real-world projects and hundreds of real PM interview questions. ACE® approved—upon completion, you can earn up to 6 college credits.

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PM Interviewing, Real-World Examples, Product Management, Real-World Assignments, Technology Leadership, Go-to-market Strategy, Product/Market Fit, Tech Leadership, B2B Sales, Monetization Strategy, A/B/n testing, Customer Retention, KPIs OKRs North Stars, OODA Loops, Lead Designers, Lead Engineers, Technical PM Interview, Technical Literacy, AI/ML, Estimation Interview, Data Analysis Interview, Strategy Interview, Behavioral Interview, Product Design Interview

Gain more than just product management essentials with the University of Maryland's online specialization, Product Ideation, Design, and Management. This flexible, beginner-friendly online course can be completed in 5 months or less. You can also learn about the digital product management process and how to manage it with Agile in the University of Virginia's Digital Product Management Specialization.

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Learn to discover, design, and deliver products that customers love.

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Product Development, Ideation, Product Management, product design, Innovation, Market Analysis, Entrepreneurship, Competitive Analysis, Customer Development, Marketing, Leadership, User Experience (UX), Prototyping, Corporate Finance, Entrepreneurial Finance, Venture Capital, Finance

specialization

Implement a modern approach to product management. Master the fundamentals that create great teams and products

4.8

(2,701 ratings)

52,023 already enrolled

BEGINNER level

Average time: 5 month(s)

Learn at your own pace

Skills you'll build:

hypothesis-driven development, Product Management, Design Thinking, agile, Lean Startup, Product/Market Fit, Innovation Pipeline, agile user stories, User Experience Design (UXD), Agile Software Development, Software Development, Usability Testing, Continuous Delivery, agile product management, backlog management, Kanban, XP