Product Management Techniques

Tips for Success:

MGT-30157 – Product Management Techniques

✰ How Do I Get Started?

· While this may seem like a big project, look at is as a series of small phases, you can do it! Let’s start…

· Read through the instructions a few times. The instructions set the stage for your project.

· Make sure to take note of the prompts that are provided in the instructions . These will be important to address in your project. Specifically the Scenario and Directions so that you have a good understanding of the current product portfolio and the need for product development recommendations

· Review each rubric criteria to ensure a good understanding of your tasks.

· Take notes of the data from the Matrix of the basic information (chart in scenario) related to their current product portfolio.

✰ What to Submit?

· Product Analysis and Recommendation

After analyzing Maverick Auto Company’s product line, make a professional recommendation on which product is in decline and should be replaced within the next five years. You should provide an explanation to support your recommendation. Stakeholders have asked for a product analysis and recommendation to accompany your phase and gate map. This analysis should use product management techniques to inform product development recommendations.

A. Stakeholders have asked you to conduct a product analysis on the five cars in Maverick Auto Company’s product portfolio. Using information from the product portfolio and customer needs, provide the following to your stakeholders:

· Your professional recommendation for which car by model name or description is in decline and should be replaced in the next five years

· Explanation for your reasoning

B. Use the customer research that has been provided in the scenario to help guide your analysis.

· Use at least three customer insights to justify your recommendation to stakeholders.

· Phase and Gate Map

The phase and gate map is a product management technique used to inform product management decisions. Your stakeholders have asked you to support recommendations for each phase with examples. Consider how this informs your recommendations in the product analysis and recommendation that you created.

A. Using what you have learned, complete the phase and gate map for the stakeholders of Maverick Auto Company.

· Use the template provided for you. (This template is provided for you in the Deliverables section.)

B. In considering the company’s product portfolio, explain techniques you would recommend for product development.

· Techniques can include analyses, methods, or activities, etc.

· For Gate 1, provide 5—10 different questions that would help screen various ideas.

· For Phase 1, provide 5—10 different techniques or activities from amongst these topics: market, technical specifications, financial objectives, and intellectual property, ex: design patent, utility patent. Student needs to include department/person responsible.

· For Gates 2, 3, 4 and 5, write 8—15 questions that need to be asked to help determine if product ideas should be moved on to the next phase.

· For Phase 2, provide techniques and activities to prepare a business case for stakeholders, providing 5—10 techniques to do so.

· For Phase 3, provide techniques and activities that will help the design and development of a prototype, providing 5—10 techniques for stakeholders.

· For Phase 4, provide techniques and activities to help test and validate the product, providing 5—10 techniques for stakeholders.

· For Phase 5, provide techniques and activities to help launch the final product, providing 5—10 techniques for stakeholders.

C. For each phase, support your recommendations with examples and reasoning to justify the techniques and activities you have chosen.

✰ Must Read Resources

Rubric Criteria	Unit	Resource Title
Professional Recommendation
Determines which car by model or description in Maverick Auto Company's product portfolio is in decline	Project Instructions and Scenario	Resource: Resource: Project Instructions Scenario Source Information: Provides customer insights regarding vehicles and consumer trends. Used to analyze and understand which car by model or description in Maverick Auto Company's product portfolio is in decline
Explains the reasoning for why that particular product is in decline, using three customer insights from the scenario to justify the recommendation	Product Portfolio and Recommendations	Resource: Project Instructions Scenario Source Information: Provides customer insights regarding vehicles and consumer trends
Phase and Gate Map
Gate 1: Provides 5—10 different questions that would help screen various ideas	Product Portfolio and Recommendations; Idea Screening and Scoping the Concept	Resource: Principles of Management Ch 2.3 Source Information: Helps to understand what trends have emerged in an ever-changing global environment Resource Video: The Benefits of Product Portfolio Management Source Information: Explains the specific benefits of product portfolio management and compares this strategy with traditional product management Resource Video: The Product Life Cycle Explained Source Information: Describes the characteristics of each stage of the product life cycle and explains how companies can use data to determine when to keep a product on the market and when/if to discontinue it.
Phase 1: Provides 5—10 different techniques or activities that should take place to determine if a product can move on to the next phase, also indicating which stakeholders are required for each technique or activity	Idea Screening and Scoping the Concept	Resource: Power Your Product Development with Phase Gate Source Information: Explains how the phase-gate process works. Resource Video: Understanding Customer Needs Source Information: Explains why understanding the needs of the customer is so important to a business. Resource Video: Stage-Gate in a Nutshell Source Information: Explains basic concept of Stage-Gate method Resource: What is a Customer Need? Source Information: Discusses issues that should be considered when determining what customers really need and role customer plays when trying to determine whether or not to offer a product.
Gates 2, 3, 4 and 5: Writes 8—15 questions that help determine if product ideas should be moved onto the next phase	Idea Screening and Scoping the Concept	Resource: Principles of Management, Section 5.4, Developing Strategy Through Internal Analysis Source Information: Explains how and why various managerial factors should be considered when a company is determining its product strategy Resource: Management by Objectives and the Balanced Scorecard Source Information: Helps to understand measurement approaches for setting and managing goals and objectives Resource: E-commerce Product Liability 101: Protecting Yourself and Your Business Source Information: Provides insight into the importance of risk management and strategies that can help protect a business from liability
Phase 2: Provides techniques and activities to prepare a business case for stakeholders, providing 5—10 techniques to do so	Product Management Considerations	Resource Video: The Benefits of Product Portfolio Management Source Information: Explains the specific benefits of product portfolio management and compares this strategy with traditional product management Resource: Principles of Management, Section 1.4 Economic, Social, and Environmental Performance Source Information: Discusses the stakeholder-related issues that should be considered by companies Resource: Principles of Management, Section 11.4, Subsection: 4.1 The Roles of Mission, Vision, and Values Source Information: Explains how mission, vision and values influence the factors an organization should consider when for product development.
Phase 3: Provides techniques and activities that will help the design and development of a prototype, providing 5—10 techniques for stakeholders	Design and Development	Resource: Design Thinking: Getting Started with Prototyping Source Information: Explains the concept of the prototype and describes how a company can use a prototype at the beginning of the product development process Resource: 10 Effective Ways to Protect Your Intellectual Property Source Information: Outlines the specific factors that organizations should consider to protect their intellectual property Resource: How to Really Hear and Use Customer Feedback Source Information: Provides information regarding the value of customer feedback to organizations Resource: Principles of Management, Section 1.5 Consumer Behavior Today Source Information: Provides an explanation of the different ways in which consumer behavior can be assessed
Phase 4: Provides techniques and activities to help test and validate the product, providing 5—10 techniques for stakeholders	Testing and Validation	Resource: The Importance of Product Testing Source Information: Explains the value of quality product testing and describes several ways in which it can benefit a company. Resource: The Essential Guide to Product Testing and Validation Source Information: Summarizes the importance of customer feedback as part of the product testing and validation process and offers insight into the factors a company should consider as it readies a product for distribution.
Phase 5: Provides techniques and activities to help launch the final product, providing 5—10 techniques for stakeholders	Product Launch	Resource: Product Launch/Resource: Video: How to Market a Product Source Information: Provides advice on how companies can beat the odds and ensure a successful product launch. Resource: Product Launch/Resource: Operations Management: Definition, Principles, Activities, Trends Source Information: Explains the concept of operations management. It also provides a history of operations management, basic principles, and activities in which operations managers engage.
For each phase, supports recommendations with examples and reasoning to justify the techniques that have been chosen	Idea Screening and Scoping the Concept; Product Management Considerations; Design and Development; Testing and Validation; Product Launch	Resource: Phase and Gate Map Template
General
Clearly conveys meaning with correct grammar, sentence structure, and spelling; shows understanding of audience and purpose	Academic Support	https://learn.snhu.edu/d2l/le/content/304949/Home?itemIdentifier=D2L.LE.Content.ContentObject.ModuleCO-6822595
Lists sources where needed using citation methods with no major errors	CfA Citation Guide	https://learn.snhu.edu/d2l/lor/viewer/viewFile.d2lfile/93606/22441,-1/

✰ Further Rubric Criteria Explanation…

Reviewer Recommendation

Don’t overthink it. Look at the vehicles in the current portfolio compared to what consumers want. Identify the vehicle or model description that should most likely be discontinued, and provide 3 reasons with explanations from the customer insight for your decision.

Phase and Gate Map

Consider this to be a visually flowing process that depicts each phase of developing and launching a new product (vehicle). The sources provided including videos, articles and text chapters support the rubric elements, although they may not specifically relate to a vehicle design or car company. Use the basic design concepts for your questions and activities. You should not get too concerned about all of the details of a car or truck, such as manufacturing costs, engine size or interior colors. You are not expected to know all of the testing and validation required before launching a new model. The key is to focus on the phases and have questions and general activities that should be carried out to advance the project

Let's start with the Gate 1. This is a section where you are to provide 5-10 different questions that would be answered in a "Yes" or "No" form to identify if the project idea should proceed or not.

Here is an example of a relevant Gate 1 question:

“Will there be technical expertise available for building the idea/product?” This can be answered "Yes" or "No".

· You do not need to answer, just write out the question. Then you would write out more to have at least 5 questions that again would have a "Yes" or "No" response.

An associated Phase 1 activity or technique, the stakeholders and description for this previous question could be:

Technique: Conduct Preliminary technical assessment

Stakeholders: Could be Project Management team and Technical divisions (Mechanical, Electrical, IT)

Description: Determine the feasibility and available resources of respective divisions to build the product as per the market requirement.

· Your other questions should pertain to financial, market, legal, feasibility and intellectual property considerations. Again, include the stakeholders, and a description of the techniques or activities.

Gate 2:

This gate will consist of providing at least 8 more specific questions that help determine if product ideas should be moved on to the next phase for the project. These questions are similar to those asked in Gate 1, but are much more specific.

· Write 8-15 questions that will be used and asked in the gate to determine product management techniques for a business case.

After completing your questions, write a narrative section explaining why you chose the questions that you did.

Here is an example of a Gate 2 question that is more detailed than the Gate 1 question:

“How much of required technical resources or capabilities are currently available?

· Please refer to the Phase and Gate Map Template linked in the Project Instructions to find directions on the following Phase content required.

· The Gate 2 questions remain for Gates 3, 4 and 5. It is recommended that these Gate 2 questions be copied and provided in the Gate 3, 4 and 5 sections to remind you of what should be addressed in the related phases. The associated activities and techniques for the following phases will more than likely be different for the various gates. Be sure to include the participating departments/employees for the activities. For example, if there is a market study to be conducted, the participating departments/employees may include sales, marketing or customer service.

For each phase, a very brief discussion supporting their reasoning and including at least 1 example for each phase & gate 2 to justify the chosen techniques. Each description must be related to what gate/phase requires.

“For each phase, supports recommendations with examples and reasoning to justify the techniques that have been chosen”

· If one or more phases or Gate 2 do not include the recommendations with examples and reasoning to justify the techniques that have been chosen, this element will be marked “Not Yet”.

✰ Academic Support Resources

· Use the CfA Citation Guide under Supporting Materials for help with citations.

· Use Academic Support for help with writing mechanics.

· Join the SNHUconnect Learning Community

· Use NetTutor and Smartthinking

✰ Got Questions…

· Reach out through the Discussion Board at any time.

· The best way to contact your Reviewer once you have submitted your project and received the initial feedback is through the Private Channel under Discussions. Here you can reach out with any questions about the project or feedback and you will hear back from a Reviewer shortly.

· Reviewers are here to support your success! Feel free to reach out—we are here for YOU!

✰ Submit the Project!

· Review the rubric carefully. Are there any criteria about which you have questions? If so, feel free to send a note through the Discussion Channel.

· Review the Project Checklist . Have you covered everything? Any questions? Make sure to include a complete deliverable each time you submit your project.