How to Select Software for Product Management

Product management is an intricate field that consists of monitoring the planning and marketing of a product throughout its life cycle. Product managers coordinate between many departments in an organization manage a diverse amount of material. To streamline and enhance their duties, many product management professionals select software specifically designed for this purpose.

Instructions

Difficulty: Moderate

1. Determine your budget for product management software. There are different types of software available at different price points. Most software costs are determined on a per user, per month basis, but some may be purchased for a flat licensing fee.
2. Create a list of features you require in a software package. Some potential features include managing requirements, creating roadmaps, collecting customer feedback and generating MRDs and PRDs. Knowing what features will be most beneficial to your process will help you select the appropriate software.
3. Determine who is going to use the software. Some programs are designed for different members of a product management team. For example, some programs are licensed only to product managers, with read-only access to the rest of the team.
4. Research different product management software options. Some popular software options include Accept 360 from Accept Software, Focal Point from Telelogic and Qpack from Orcanos (see Resources below). Compare features of the different software platforms with the features you need for your product managing process.
5. Schedule a demo period or free trial for the software that most matches your needs. Most software companies will allow you to test out the software ahead of time to help you select the best one for your situation.

Tips & Warnings

• Maximize the benefits of product management software by practicing solid product managing skills, such as listening to customers, keeping the lines of communication open between team managers and creating presentations to showcase the product effectively.
• "What if" scenarios, available on some product management software, allow you to create detailed analyses based on different inputs. This is a useful planning tool that helps create valuable projections.
• Before you select software for your department, talk to your company's IT specialist to make sure it is supported by and available in the format you require.
• Don't expect product management software to be a magic bullet for your product problems. Product management software is just a tool to help organize, analyze and collate product management materials. Software cannot substitute for poor product managing skills or lack of attention to product managing duties.