95-821: Product Management in IT 1 Syllabus 95-821 Product Management in Information Technology Spring 2015; Mini-4 Description: This introductory course (6 Units) is designed for MISM and MSIT students who are interested in exploring the roles and responsibilities associated with the planning, development and marketing of a product or service. By managing a product or service as a mini-business within an organization, product managers provide a critical leadership role and have the responsibility of making the product or service successful. They must manage the product in a complex, fluid environment affected by many influences such as customer needs, competitive offerings and threats, strategic planning and development cycles, budgetary constraints, product costs, and make vs. buy decisions to name just a few. While the scope of responsibilities seem critical (as well as interesting), product management is not always part of an organization, at least at first. Companies typically implement the product management function when a lack of coordination, communication and planning cause ineffective product developments, missed schedules, lost revenues and disgruntled sales and development personnel (much less, dissatisfied customers!). Engineers and technical support personnel who show some level of interest or knowledge about the customer, competition, and/or business are promoted to product manager roles, often with little or no product management training or understanding. Note that these situations apply not only to products offered to external customers, but also to products and services offered by IT to internal customers (i.e. co-workers). Read any IToriented business journal these days, and one will quickly understand the need for IT to be relevant to the business. This can be difficult for IT personnel who do not fully appreciate their customers needs, much less competition. As such, this course discusses the need for product management roles and responsibilities for both external and internal products. Product management jobs are ideally suited for those who want a leadership role that combines one s business interests with one s technical knowledge and skills. This course assumes the students have plenty of other courses and experiences related to technical skills and knowledge; so, this course focuses on the business and managerial considerations, methods and tools of the product management function. Learning objectives include: 1. Define product management 2. Summarize the needs and requirements of product management; 3. Describe the 4 pillars of product management s roles and responsibilities across the product lifecycle, along with base responsibilities, regardless of lifecycle phase; 4. Analyze how product management can be applied to products and services that are both external and internal to an organization; 5. Describe how product management fits and interacts within organizations;
95-821: Product Management in IT 2 6. Be aware of common product management methods and tools, along with those specific to the four product life-cycle phases as follows: a. Common Methods and Tools i. Identify common product management methods and tools b. Product Strategy i. Identify and analyze the stages and deliverables associated with development of a strategy ii. Identify the components associated with a strategic proposal c. Product Development i. Identify the stages and deliverables associated with product development d. Product Marketing i. Identify the stages and deliverables associated with product marketing ii. Identify the components associated with a product marketing plan e. End of Life i. Identify the stages and deliverables associated with a product s end of life 7. Describe challenges and issues associated with product management Pre-requisites: No pre-requisites exist for this class. However, students who gain the most from this class have taken 95-820, Strategic Management and Implementation for IT, or 2-5 years of work experience that has provided a good understanding of business & its functions (e.g. Sales, Engineering, etc.). Instructor: Thomas H. Murray, Adjunct Professor tmurray@andrew.cmu.edu tom@wexfordrun.com (preferred) Office Hours: By appointment Text: Lehmann & Winer, Product Management, 4 th edition, McGraw-Hill Irwin, Boston, 2010; ISBN-13: 978-0390230980 (available from Amazon.com) Required Cases and Articles: Use the following HBR Coursepack link to purchase the following 7 items at a discount: (https://cb.hbsp.harvard.edu/cbmp/access/35859971) 1. The Product Manager, October 2012, Bussgang, et.al., #9-812-105 2. Marketing Malpractice, December, 2005, Christensen, et.al, #R0512D 3. Market Selection & Direction: Role of Prod. Portfolio Planning, Nov. 1984, 9-581-107 4. Principles of Product Policy; May, 2006; 9-506-018 5. Yahoo! Messenger, June, 2006; 9-805-102 6. Product Development at OPOWER, February 2011, Eisenmann and Go, # 9-811-075 7. Precise Software Solutions; February 2003; Godes, D.; #: 9-503-064
95-821: Product Management in IT 3 Additional Readings and Materials: Readings in addition to those listed in the course schedule may be assigned occasionally for class discussion. These readings will be either distributed in class, or placed on reserve in the library. Other readings that may of interest now or further in your career include: Product Management Brooks, Frederick P., The Mythical Man-Month, Essays on Software Engineering, Reading, MA, Addison-Wesley Publishing Company, 1995. Condon, Dan, Software Product Management, Managing Software Development from Idea to Product to Marketing to Sales, Boston, MA, Aspatore Books, Inc., 2002. Gorchels, Linda, The Product Manager s Handbook The Complete Product Management Resource, Chicago, IL, NTC/Contemporary Publishing Group, 2000. Haines, Steven, The Product Manager s Desk Reference, McGraw-Hill, 2009. Hoch, Detlev J., et.al., Secrets of Software Success Management Insights from 100 Software Firms around the World, Boston, MA, Harvard Business School Press, 2000. General Marketing Kotler, Philip, Marketing Management Analysis, Planning and Control, Englewood Cliffs, N.J., Prentice-Hall, Inc., 1984 (or latest edition). Lehmann, Donald R. Winer, Russell S., Analysis for Marketing Planning, Homewood, IL, BPI Irwin, 1988. Stevens, Mark, Your Marketing Sucks. (see details inside), New York, N.Y., Crown Business, 2003. Performance Evaluation Students will be evaluated on a curve to align with Heinz grading guidelines, based on the following: Class Participation 30% 1 Quiz 30% Final Exam 50% It is important that students prepare themselves for active participation in class discussions of cases and readings. Students who cannot attend class must inform the teacher beforehand. Further, it is important that students convey excellent verbal and written communication skills as would be expected in any professional environment. Structure, flow of argument, focus, grammar, etc., will be considered in the performance evaluation. Quality and conciseness is valued over volume. Note that University policies and guidelines regarding grading and academic integrity. Students requesting to audit the course must complete the class assignments and participate in the discussions.
95-821: Product Management in IT 4 Date Class # Proposed Agenda and Assignments - Pittsburgh Campus Mar.16 1 Prep for Class 1, Read Article: The Product Manager Read Article: Marketing Malpractice Read Article: Principles of Product Policy Lecture Topics Course Intro Product Management -- An Introduction (1) Complete Prep for Class 1, listed above. (2) Read Text: Chapter 1 Intro (pp. 1-23) Chapter 3 Product Segmentation (49-71) Chapter 5 Competition (pp. 97-137) Chapter 6 - Customer (pp. 139-181) Mar.23 2 Lecture Topics Common Product Management Practices - Goals & Objectives, Segmentation - Customer & Competitive Analysis: External - Customer & Competitive Analysis: Internal Chapter 7 Market Potential (pp.187-221) Chapter 8 Developing Product Strategy (pp.226-254) (2) Read Article: Market Selection and Direction Mar.30 3 Lecture Topics Product Strategy -- Development Stages and Deliverables Business Case - Components Chapter 9 New Products (pp. 257-281) (2) Prep Case 1: Yahoo! Messenger: Network Integration (Analysis of Strategic Planning Process and Output) (3) Prep for Quiz Apr.6 4 Lecture Topics Product Development -- Stages and Deliverables
95-821: Product Management in IT 5 Case Discussion Yahoo! Messenger Case Quiz Chapter 2 Marketing Plan (pp. 26-45) Chapter 10 Pricing Decisions (pp. 291-322) Chapter 11 Advertising Decisions (pp. 324-355) Chapter 12 Promotions (pp. 359-383) Chapter 13 Channel Management (pp. 388-412) (2) Prep Case 2: OPOWER (Analysis of Product Development) Apr.13 5 Lecture Topics: Product Marketing -- Stages and Deliverables Case Discussion: OPOWER (1) Text: Chapter 15 Financial Analysis (pp 441-461) Chapter 16 Marketing Metrics (pp 464 472) (2) Prep Case 3: Precise Software Case (Analysis of Product Marketing) Apr.20 6 Lecture Topics: End of Life -- Stages and Deliverables Product Management Financials and Metrics Wrap-up Apr.27 7 Final Exam Case Discussion: Discuss Precise Software Case Prepare for Final Exam