Product Management helps with...

This 'map' shows just some of the many areas where 'proper' Product Management improves businesses.

Whether a business is suffering from disappointing sales with patchy customer satisfaction, delays in launching a new service or product, or difficulties deciding on acquisitions or procurement, great Product Management will ensure the business has a far better than average chance of being successful, and that the firm is protected from commercial risk and litigation.

Poor Product Management often costs businesses 20% or more of revenue, due to rework, project overruns, client churn, quality failures, and even catastrophic events like product recalls. Mostly preventable.

Product Management's job is to nurture products and services throughout their lifecycle to ensure they are as successful as possible, minimising that impact on revenues, and protecting businesses from making expensive investment mistakes and poor product decisions, like the exploding Ford Pinto car, the toppling IKEA Malm chest of drawers, carcinogenic asbestos products, or Fujitsu's devastatingly faulty Horizon software.

If you're interested in improving your firm's chances of success and minimising its exposure to risk and the negative impacts on others, perhaps it's time to give 'proper' Product Management a chance.