Session 1 Flashcards

1
Q

Define PM and the tasks, roles, and responsibilities of PMs

A

The product manager’s job is to oversee all aspects of a product or service line so as to create a strong value proposition and deliver superior customer satisfaction
while simultaneously providing long-term value for the company.

Upstream and Downstream, Managers and Leaders, change agent

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2
Q

Give an overview of PM’s most important stakeholders and how PMs interact with these stakeholders

A
INTERNAL
Boss/executive team
Sales
Finance
Legal
Operations/support

EXTERNAL
Customers
Partners
Analysts/consultants

Depends whether working upstream or downstream. Also how independent the PM is. For example if the company has a dedicated CRM department then that might be the gateway to the customers but in a smaller company, the PM may need to carry out research and observations personally.

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3
Q

Elaborate on the most important challenges faced by PMs

A
Gaining support without authority.
Politics
Conflicting priorities/unshared vision
Communicating across various departments
Jack of all trades master of none (reliant on technical support)
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