Project Management Basics


Today, product management is considered a “luxury career.” Everyone in the technology space who is worth their salt, knows their onion, either work with or aspires to be a Product person… for what’s a product without a hungry market?

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In today’s online age, it begs the question, “Why is product management such a popular/desired career path among millennials?”

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“How can product management be so successful in today’s technology-driven world?”

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“Is product management here to stay and what are its future prospects?”

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Here are some of the most compelling reasons to pursue a career in product management now, as well as some of the potential rewards and stability this field offers in the coming decade.

Product management and technology are inextricably linked:

Every aspect of life on Earth is made possible by technology, which is an unstoppable force. Technology is aiding humanity in making significant advances, from space exploration (nee SpaceX) to autonomous/self-driving cars, augmented reality/virtual reality to transforming games and entertainment.

And what’s more? Product management is the brilliant twin sister of technology! Product managers determine the final product, application, or experience, and technology supports in the production and implementation of this final product or experience… Since technology breakthroughs are here to stay, product management will continue to be a game changer in orchestrating the definition, strategizing, and implementation of these game-changing innovative technologies.

Programming and coding expertise is not a high necessity in product management.

How unexpected that product management, such a high-demand career, does not require knowledge of coding or programming skills.

User design/User experience is strongly linked to the functional side of Product conceptualization. As a result, prospective Product managers do not need to be experts in programming in order to grasp Product management.

A diverse group of product managers and managers in other departments, such as engineering, user experience, user design, agile/process coaches, and, most crucially, sales and marketing, make up the product management team.

In the IT Product / Services organization, they must collaborate with a wide variety of teams on a daily basis. They work with the Technology architecture, Engineering/Development teams to help make important decisions on the technology platform to use, the technical designs or blueprint for the application or service, and the technology roadmap to keep the product/service viable for the end customer in the long term.

Users and design teams are consulted on how the application will look in the real world, how the user will interact with it, and how it will feel to them.

Finally, Project Managers collaborate with Sales and Marketing to support Sales demos and Marketing collaterals to end customers in order to demonstrate how the Product/Service will address the customer’s pain points. For example, they explain why the Product is superior to the competitors, or what are the Product’s most attractive features.

There is no requirement for a person to have a preexisting or stereotypical background in order to break into Product management

Product management, contrary to popular assumption, does not necessitate a college degree to get started. If you want to apply, you can be from any of the following fields: pure science, fine arts, mathematics, or traditional engineering /computer engineering.

From then on it’s all on the same playing field for everyone. Product sense, design, user experience, product strategy, vision setting, and roadmap definition are all crucial to your success in the Product Management industry.

What makes your abilities marketable is your ability to collaborate with various cross-functional teams, adhere to deadlines, fulfill end-user needs, and deliver on promises, all of which are attributes of a successful PM.

From anywhere in the world/virtually, you can skyrocket your PM journey

Yes! You read right, and that’s why you’re connected to the Favored online community.

Today and especially after the global pandemic, it has become clear that the PM career can be done from anywhere and is a winner in the Virtual Corporate environment. You only need access to the tools and the team you’ll be working with to get the results you want.

There are a number of technologies required for this project, including: JIRA, Version One, and Microsoft Team Foundation Server (TFS). Balasmiq, Miro, Axure, and other user experience or user design tools for mockups and wireframes.

Tools for rapid prototyping; such as Figma, Invision, and Atomic.

Management tools like Trello, Monday.com amongst others.

The use of product roadmapping technologies like Monday.com, Product plan, and Product board,

for example.

So if you love meeting with people, this is definitely for you! And to the icing on the cake!) Product management is a high-paying job.

It’s Project Management, but not as you know it.

We’ve got the PM piece of the tech cake, and would like you to have a taste, join the Favoredonline network on all our social media platforms.

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