Organizations that have more than a single product need to decide what to invest and when in each product.
Here’s a collection of resources about how best to split your available people and money across multiple products so that you’re not forced to narrow your collection down to a single one.
What Is Product Portfolio Management?
Strategic product portfolio management can not only boost your company’s bottom line, but also transform the company from top to bottom.
Product portfolio management is all about developing and implementing a comprehensive and profitable business strategy for your company’s entire product line. Making a product portfolio as strong as it can be is the goal of good product portfolio management.
Product portfolio management goes way beyond singular product management and day-to-day project management. Understanding the goals and benefits of product portfolio management can not only boost your company’s bottom line but also transform the company from top to bottom.
Hannah Clark explains what product portfolio management is and how to take advantage of it.
Product Portfolio Planning Explained
As the software landscape continues to evolve, product portfolio planning has become increasingly important for software companies.
Product portfolio planning helps companies map out a roadmap for their products, and it can be a valuable tool for mitigating risk and driving growth. But despite its importance, many software companies still struggle with product portfolio planning.
Ozan C. Ozanturk looks at how most software product companies do product portfolio planning and explores the root causes and solutions to these frustrations.
Product Portfolio Management Frameworks – 4 Examples
Product Portfolio Management is an approach to managing the balance of investments in a company’s product initiatives to increase market share and revenues.
Typically, the makeup of the product portfolio is determined by overall investment level (R&D or new product development (NPD) budget), strategic alignment, and risk tolerance. Risk management often comprises multiple variables, such as market and technical risk. The best new product development process includes portfolio management to select new projects.
John Carter explains four commonly used frameworks (2×2 matrices!) for managing a company’s product portfolios in product development and in-market. These matrices help managers decide relative investment levels based on market and product characteristics. Although these frameworks are good, self-contained ways to share the strategy, a product management consulting engagement might go a level deeper and work with you to select and apply these frameworks.
Maximizing Product Potential: A Guide To Building a Strong Product Portfolio
When you work in a single-product organization, you look to that one product to solve your customers’ problems and help you reach organizational goals.
Your decisions come down to which features to add, improve, or remove so that you can make the best use of your product team’s time and investment dollars.
As you look to grow your organization, you may reach the point where you’ve tapped out the potential of that one product. It may be time to add another product. Yet when you do that, it can have all kinds of implications on your existing product.
You can’t decide about each product in isolation, consider them all together. That’s where a product portfolio comes into play.
What is a Product Portfolio Strategy and How to Develop It?
As a product manager or product leader, one of your key responsibilities is to develop and execute a product strategy that will help your organization achieve its business goals. One important aspect of this strategy is the product portfolio strategy, which involves managing your company’s product portfolio to ensure that it aligns with your business objectives and delivers maximum value to your customers.
Andrea Saez dives into what a product portfolio strategy is, why it’s important, and how to develop one.