Five Buckets Model for Product Management
This document outlines five key capabilities or "buckets" of product management: influencing, synthesis, domain knowledge, prioritization, and business acumen. Each bucket is described in one to three sentences. Influencing involves rallying opinions around product value through communication and stakeholder engagement. Synthesis entails taking inputs from various sources and synthesizing them into a coherent vision and product strategy. Domain knowledge refers to having sufficient knowledge about the relevant domain. Prioritization encompasses roadmapping, tracking delivery progress, and managing the product backlog. Business acumen covers aspects like ensuring business sustainability, conducting market research, and ensuring product-market fit. The document also provides examples of different "personas" of product managers that may vary in
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Five Buckets Model for Product Management
- 1. 5 BUCKETS OF PRODUCT MANAGEMENT To each their own shape
- 4. ANOTHER WAY TO THINK OF WHO WE ARE The Five Buckets Approach to Product Management Capabilities and Competencies 4
- 6. CAPABILITIES Five key capabilities that summarise essentials of Product Entrepreneurship and Product Management 6
- 7. Influencing Synthesis INFLUENCING 7 Business Acumen Domain Knowledge Prioritisation • Rallying opinions around the Product value • Active listening • Evangelism • Articulation of value • Connect Business,Users, Techies and be their advocate in Product decisions • Establish common language • Fill the communication gap • Stakeholder engagement • Problem solving • Decision making • Conflicts resolution • Jedi Mind Tricks • Elevator pitches • Quips, anecdotes, story telling • Personal leadership • CxO level conversations
- 8. Synthesis SYNTHESIS 8 Influencing Business Acumen Domain Knowledge Prioritisation • Take inputs from various sources and synthesize them into coherent vision • Build Product Strategy • Product Design, Innovation, User Research keeping inputs and behaviors in mind • Work with Business Analysts, Experience Designers, Developers, stakeholders, contributors, builders, consumers, etc.
- 9. Domain Knowledge Synthesis Domain Knowledge 9 Influencing Business Acumen Prioritisation • Ramp up at needed pace to get sufficient Domain Knowledge • SME or strong Design background or strong Development background
- 10. Prioritisation Synthesis Prioritisation 1 Influencing Business Acumen • Roadmapping • Track and Manage the Delivery Progress • Manage and Prioritize the Product Backlog Domain Knowledge
- 11. Business Acumen Synthesis Business Acumen 1 Influencing • Sustainability of the business based on the product • Business case for ideas/product/innovations/incremental innovations • Pricing • Market scoping • Market research • Market size • Market opportunity • Product - Organization fit • Product - Market fit Domain Knowledge Prioritisation
- 12. PERSONAS EXAMPLES Product Managers come in variety of sizes, colors, configurations, attitude and style 1 2
- 13. Influencing Business Acumen Prioritisation IDEATOR / DISRUPTOR / STARTUP PROMA 1 Synthesis Domain Knowledge
- 14. Synthesis Influencing Business Acumen INCREMENTAL INNOVATOR / ENTERPRISE PROMA 1 Domain Knowledge Prioritisation
- 15. Influencing Domain Knowledge Prioritisation SUSTENANCE PRODUCT MANAGER 1 Synthesis Business Acumen
- 16. Synthesis Influencing Domain Knowledge DOMAIN SPECIFIC PRODUCT MANAGER 1 Business Acumen Prioritisation
- 17. THANK YOU Dinker Charak – ddiinnxx.com