THE ROLE OF PRODUCT MANAGEMENT IN THE IMPROVEMENT OF IT-PRODUCTS
Abstract
The rapid advancement of information technologies and their pervasive integration into all aspects of modern life have significantly transformed the IT market, presenting new challenges for IT companies. The market effectiveness of an IT product is determined not only by its technical quality but also by its ability to meet evolving user needs, quickly adapt to dynamic market conditions, and align with global industry trends. In this context, product management emerges as a critical tool for harmonizing the technical capabilities of an IT product with a company's strategic objectives and the expectations of consumers. This article explores the role of product management in enhancing IT products, addressing knowledge gaps regarding their impact and practical applications. It examines the tools and methods that companies can employ to optimize development processes, enhance competitiveness, and make effective managerial decisions in a dynamic environment. The purpose of this article is to elucidate the essence and role of product management in improving IT products, as well as to define its components, stages, and influence on industry development. The research methods encompass analysis, synthesis, induction, and deduction to achieve the article's intended aims. The main findings of the study comprehensively outline the essence and role of product management through the systematization of its key components, stages, and methods. The study establishes that product management ensures a balance between technical and organizational capabilities, user needs, and market demands, thereby enhancing the company's competitiveness. The article organizes the product management process based on the degree of certainty regarding customer needs and the methods of obtaining decision-making information. Practical applications of these approaches are illustrated using the example of the Ukrainian website builder Weblium. Promising directions for further research include leveraging artificial intelligence to optimize product management tasks, utilizing social networks for information collection during decision-making processes, and conducting a more in-depth analysis of software tools used in product management workflows.
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Fichtler, T., Kirchberga, L., Grigoryanb, K., Koldeweya, C., & Dumitrescu, R. (2024). A method for identifying use cases in data-driven product management. Procedia CIRP, 539–544. https://doi.org/10.1016/j.procir.2024.01.079
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González, C. (2024). Product management methodologies: A comparative guide. Product School. Retrieved November 24, 2024, from https://productschool.com/blog/product-strategy/product-management-methodology
Khurum, M. (2011). Decision support for product management of software-intensive products (Doctoral dissertation). Blekinge Institute of Technology, Karlskrona, Sweden. Retrieved October 20, 2024, from https://www.diva-portal.org/smash/get/diva2:835074/FULLTEXT01.pdf
Lemser, F. (2023). Strategic Product Management according to Open Product Management Workflow TM. Nuremberg, Germany. Retrieved October 16, 2024, from https://www.pro-productmanagement.com/images/downloads/strategic-product-management-book-open-product-management-workflow.pdf
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Rehkopf, M. (2015). Agile product management. Atlassian. Retrieved October 10, 2024, from https://www.atlassian.com/agile/product-management
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