Product managers are responsible for the success of a product, from its conception to launch and beyond. This means they need to have a deep understanding of the product, the market, and the resources available to them.
One of the most important aspects of product management is effective resourcing. This means allocating the right people, skills, and time to the right tasks. When done well, effective resourcing can help product managers deliver successful products on time and within budget.
Here are some tips for product managers to master effective resourcing:
- Start with a clear understanding of the product. What are the product’s goals? Who is the target audience? What are the key features? Once you have a clear understanding of the product, you can start to identify the resources you need to bring it to life.
- Consider the availability of resources. Not all resources are available all the time. Make sure to factor in the availability of resources when you are making your resourcing decisions. For example, if you need to hire a developer, you need to make sure that there are qualified developers available in your area.
- Be flexible. Things don’t always go according to plan. Be prepared to adjust your resourcing plans as needed. For example, if a key team member leaves the company, you may need to find a replacement or reassign tasks.
- Communicate with your team. Keep your team updated on your resourcing decisions and make sure that everyone understands their roles and responsibilities. This will help to ensure that everyone is working towards the same goal.
- Measure your results. Track your progress and make sure that you are getting the most out of your resources. This will help you to identify areas where you can improve your resourcing process.
By following these tips, product managers can master effective resourcing and deliver successful products.
Here are some additional tips for effective resourcing:
- Use a project management tool to track your resources. This will help you to see briefly how your resources are being used and identify any potential bottlenecks.
- Build relationships with key stakeholders. This will help you to get the resources you need when you need them.
- Be prepared to negotiate. Sometimes you may need to negotiate with stakeholders to get the resources you need.
- Don’t be afraid to ask for help. If you are struggling to find the resources you need, don’t be afraid to ask for help from your manager or other team members.
- Effective resourcing is a critical skill for product managers. By following these tips, you can master effective resourcing and deliver successful products.
Download our free eBook on effective resourcing for product managers to learn more: https://www.subscribepage.com/rmg_product_management_ebook
- According to a study by McKinsey, 70% of product managers believe that effective resourcing is essential for product success.
- A study by the Project Management Institute found that poor resource management is one of the top reasons for project failure.
- The average cost of a project delay is $100,000 per day.
- Companies that use project management tools are 30% more likely to deliver projects on time and within budget.
- The average time to market for a new product is 18 months.
- Companies that are good at resourcing are 20% more likely to achieve their business goals.