Compendium admissions 2023-25


points your product could address



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PI Prep Kit 2023
points your product could address.
Ideas can come from user feedback, issues with current tools you offer, gaps in the broader market, or business needs and goals.
2. Questioning the problem
: In this stage, they run user interviews and competitive analysis to understand how solving the problem identified in the first step could help their product meet user goals. These involve creating customer delight and organizational goals like profitability.
3. Testing possible solutions
: Post identifying the right problem to address, the PMs work with their team to generate ideas for product solutions.
4. Defining a solution
: When a viable solution has been identified, it’s time to define a clear product vision. Product managers should create a clear roadmap and set KPIs to measure progress.
5. Get cross-functional buy-in
: It involves convincing stakeholders from different departments to support and allocate resources to your product ideas.
6. Build a Minimum Viable Product:
Create a simple version of the product with basic features and release it onto the market to test its functionality. Based on the results, further steps can betaken.
7. Guide execution
: Finally, the product manager leads the development and engineering teams through executing the product vision.

Five skills to thrive in product management
1. Deep research
2. Knowing whereto prioritize
3. Empathy for users


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4. Storytelling
5. Inspirational leadership

Agile product management It is an adaptive approach to product strategy planning and implementation where teams align to achieve product goals.
Pros and cons of agile product management
Pros
• The work sprints and workflows in the agile lead to faster review and response cycles
• The entire method provides greater flexibility and speed
• It facilitates better user understanding throughout the product lifecycle
Cons
• It involves multiple approval workflows, which can be chaotic if not organized in the initial stages.
• There’s uncertainty and lack of predictability about when you’ll see results

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