We live in a great time where, in most of the world, you can invent a new product or service and—with the appropriate up-front work—earn money from the value it creates for customers. This is remarkable!
Creating new products and services, however, takes a lot of thinking and hard work—especially in the technology space. Coming up with an initial idea is often the easiest part of the entire process. Forming the plan and doing the work just to get your offering ready to sell is where the big effort rests. How do you take a new product or service to market?
A product manager is generally considered to be leading the product, as if the product were a business by itself. The product manager holds responsibility for various aspects related to product management, including developing roadmaps and strategy, and coming up with feature definition for the product. The position may also include responsibilities for forecasting, marketing, profit and loss responsibilities. At its core, product management takes care of the entire gamut of activities related to managing requirements, gathering user feedback and making enhancements for a product.
Product management is a critical function due to the need to rapidly implement product features and refine them based on feedback. There are several ways in which the advent of the cloud is changing product management. According to research by Berkaweb, Cloud hosting is expected to grow by 18.3% a year on average over the coming years.