Product manager, what are you doing?

Product management is a diverse role that encompasses many responsibilities – we are busy people! We often cover broadly from market research to product development and marketing and, importantly, stakeholder management throughout our organizations. You can read more about the different aspects a product manager covers, in the Nevico Product Management report 2022.

The fact that most days bring new challenges and problems to solve is thankfully found interesting by most product managers. However, there are pros and cons to having such a diverse role:

Pros

Cons

A broad perspective: Having a diverse set of responsibilities allows product managers to see the big picture and understand how different aspects of the product development process fit together.

Increased creativity: Diversity in responsibilities can lead to more creative problem-solving and innovative solutions.

Flexibility: Product managers who have a diverse set of responsibilities can adapt to changing circumstances and take on new challenges.

Greater impact: Product managers who have a diverse set of responsibilities can make a greater impact on the product and the organization as a whole.

Overload: Product managers with many responsibilities may feel overwhelmed and unable to prioritize effectively.

Lack of specialization: Product managers with a diverse set of responsibilities may not have the expertise in any one area that a specialist would have.

Difficulty in measuring success: It can be hard to measure the success of a product manager with many responsibilities, as it is hard to isolate the specific impact of any one responsibility.

Difficulty in finding the right team: A product manager with many responsibilities may be difficult to replace, and it can be challenging to find the right combination of skills and experience in one person.

It goes without saying that larger companies will have an easier time creating more specialized product management roles, while a smaller company might require a product manager that spans more broad responsibilities.

Product team sizes

In Denmark, product teams are often small with 5 or fewer product managers in a company or team (according to our 2022 survey). Is that a bad thing? Well, it is consistent with the idea that smaller teams can be more agile and better able to manage stakeholders. Ultimately, the size of a product team is just one aspect to consider when evaluating the overall effectiveness of a product management team. Other factors, such as team alignment, dynamics, communication, and processes, may also play a significant role.

Product manager skill levels

Did you know that your top (C-level) leadership is likely to think more positively at your product team’s skill levels than your product leadership does? For example, a study by Forrester consulting1 highlights a disconnect between leadership and those in the product group, where leadership believes their product management practices are more advanced than they actually are. We had the same finding in the 2022 survey. Product managers are likely highly critical about their own work and skill levels, while the top leadership feels they are fulfilling expectations satisfactorily.

What are the necessary skills? Well, communication and people skills are rated as the most important skills a product manager can have (according to the Nevico survey), however, it’s important to note that while communication and people skills are important, they alone may not be sufficient for success in product management. Product managers also need to have a strong understanding of the market, the product, and the competitive landscape, as well as the ability to make strategic decisions and lead a team effectively. That’s why we are so busy!