In the past decade a New Software Economy has emerged driven by new business models such as Software-as-a-Service and underpinned by a raft of internet-based technologies such as Cloud, Open Source and Web 2.0. This is transforming the software industry and will enable Irish companies to reach global markets with a pay-per-use revenue model. Enterprise Ireland provides a suite of programmes designed to help companies make the difficult transition to SaaS, internet marketing and product management.
Latest news and events on Software Product Management.
This Product Management programme brings together international and Irish expertise to take an initial 20 software companies on the product management journey. They will learn how to connect their marketing and product development functions in a way that ensures their products always reflect exactly what the customer wants—and will pay for.
What is Product Management?
Product Management is a key organisational function that manages a product through all stages of the product lifecycle, from idea generation to end of life, spanning both product development and marketing functions.
The product manager must engage with the market to establish market needs. They must also interact with all functional departments in the organisation, to establish and drive objectives, strategies, tasks and deliverables within the organisation to maximise the potential success of their products and services in the market place.
Following a product management process ensures that companies:
- Identify the right market
- Identify the right customer
- Build the right product
- Clearly articulate the business value of their product to their target market
- Deliver the product to the customer through the most effective channels and business models
- Know when to abandon efforts, and cease investment in a non-viable product or service
Why Do Product Management?
We all claim we listen to our customers yet relatively few of us start companies by having a razor-like clarity about who our target users are, what sector they work in and what their problems are.
Yet these are the people who are going to give us money: they’re going to make us and our shareholders wealthy.
And this is what Product Managers do: they run a systematic process to ensure that from the get-go we’ll only build things that a large number of people will pay a significant amount of money for. And that’s the basis for building successful software companies
David Farquhar, CEO, Northface Ventures
What is the Product Management Programme for the Software Sector?
In November 2011, Enterprise Ireland’s Product Management Programme for the Software Sector was launched. 17 companies have taken part on this Innovation Capability Programme led by international experts in Product Management David Farquhar and Mike Kennedy from NorthFace Ventures, alongside Mary Ryan (Product Innovator), Mary Cronin (ThousandSeeds) and Sean McNulty (Dolmen / INNOVATOR) who is the Programme Director. The programme’s multidisciplinary team and unique approach has brought great dynamics and energy to the programme.
The Programme has been structured to drive impact through a 2 Phase programme.
Phase 1 has involved:
- Company Product Management Diagnostic: A half day in-company Product Management Evaluation carried out by the Product Management Team alongside the Pablo Review™ online Product Management Diagnostic Audit which explored the company’s Product Management process in more depth.
The subsequent in-depth report on each company’s Product Management performance formed the basis of the agenda set for the 4 day Intensive Engagement in Phase 2.
- International Benchmarking: Each company is currently being benchmarked against International best practice in Product Management to gauge where their strengths and weaknesses lie.
- ‘Product Management in the Software Sector’ Research Report detailing the current trends in the software sector around the application of the Product Management process.
Phase 2 involves:
- Product Management MasterClass 1 & 2:
A two day MasterClass was run in December, with a second MasterClass taking place in January led by International Product Management experts David Farquhar, Mike Kennedy and Mary Ryan. The aim of these MasterClasses was to provide the participating companies with best practice Product Management tools, templates and processes.
- 4 day In-Company Intensive Engagement:
The 4 day In-company Intensive Engagement, currently being undertaken, has been tailored for each company to create impact and address their specific needs. It has been designed to embed Product Management skills, processes and tools within the business through support and mentoring from the Product Management Expert Team.
At the end of Phase 2 a Plenary session will take place, this will provide networking opportunities between the companies, as well as enable companies to share their experiences in implementing product management, its impact and to identify approaches in meeting the challenges of the New Software Economy.