Product Management

A Product Manager is responsible for creating new products, from collecting requirements to releasing them. This specialist conducts research, plans, distributes tasks, and coordinates the work of a team.

Order a consultation >

Product Manager is a relatively new role, and the responsibilities of a Product Manager often overlap with the responsibilities of other specialists. A Product Manager should be proficient in three domains: user experience, technology, and business.


Job responsibilities 

  • Develop a product strategy and roadmap
  • For outsourcing companies, communicate with customers, collect and formulate requirements
  • Analyze the market and competition
  • Create user stories, prioritize and assign tasks
  • Develop new product functionality and features
  • Draw up functional specifications, MRDs and PRDs 
  • Collaborate with designers and developers
  • Verify hypotheses about the product using multivariate, split, and usability testing
  • Create, update, and monitor product dashboards
  • Get quantitative data on consumer behavior (for example, from consultants) ; analyze data and make informed decisions
  • Develop a monetization model and a pricing strategy 
  • Collaborate with partners and contractors
  • Prepare the product for launch
  • Support and improve the product after implementation
  • Evaluate the effectiveness of product fixes and improvements.


Skills 

  • Competence in analyzing the market, competitors, customer requirements, consumer expectations, trends, product metrics, and statistics 
  • Leadership skills
  • Effective communication
  • Defining and tracking success metrics
  • Understanding of market trends
  • Knowledge of different types of user testing, ability to analyze results
  • Understanding of the business domain for which the product is being developed
  • Mastery of tools for task tracking, collaboration, and project management (for example, Jira, Confluence, Hygger)
  • Experience with user analytics platforms, such as Amplitude and Pendo 
  • Knowledge of web and/ or software development principles.

FAQ

INDIGO Tech Recruiters have prepared answers to common questions about Product Managers. If you have any questions that aren't already on the list, we’ll be happy to answer them personally.

1. What is the difference between the Product Manager and Project Manager positions?

A Product Manager is responsible for developing a product or service during its lifecycle. A Project Manager manages a specific project, limited in time. Working on a product can include many projects. The responsibilities of these specialists are different, although they overlap in some aspects (for example, the distribution of tasks, communication within the team and with customers). The Project Manager's key KPIs are meeting deadlines and budgets, and the Product Manager's metrics are related to users (engagement, retention, revenue). In small companies, project management tasks are often performed by a Product Manager.
Product Owner is a role in the Scrum methodology that implies a certain range of tasks within the project. There is no Product Manager role in pure Scrum. In pure Waterfall methodology , on the contrary, there is no Product Owner. When combining Agile and Waterfall methods, the responsibilities of these roles (and thus, the difference) depend on the company. Most often, a Product Owner acts on the behalf of stakeholders, defining requirements for the product, performing the operational role of an intermediary between customers and the team. The PO's tasks include creating and managing a backlog. The Product Manager works with both the team and stakeholders. Her responsibilities usually include analyzing the market and competitors, and building a market entry strategy.
A product manager ensures that the final product meets the needs of users and consistently brings profit.
A product manager must be able to analyze and make decisions based on the data received, communicate, and have leadership qualities. They should understand business processes, technologies, and user experience.