Challenges In Product Management

In order for businesses to successfully initiate, develop and complete projects, they need to recruit, hire and train highly skilled professionals. The business world is speeding up and product life cycles are much shorter. This is forcing organizations to start new projects at an increasing rate. However, as projects become more complex, project failures, delays, and missed deadlines are becoming increasingly common. Today, more and more employers are recognizing the need for skilled project managers to drive their profits. However, as the demand grows, the need for highly-skilled project managers will also expand.

Let us give you an idea about the challenges that you will face. These challenges increase the demand for highly skilled professionals.

1. People

Product managers are tactical and not strategic leaders. They are the most important part for an organization. Surveys show that 59% professionals describe Product Management as a very effective at their company. But 56% Product Manager skills are average or below.  

2. Process

42% product executives are facing challenges in the process that are used in the organization. 43% processes are not aligned with the requirements of customers and targeted market.

3. Profit

Professionals believe that 40% or more of company’s products fails to meet customers demands. Professionals also believe that profit can increase by 34% with the highly skilled professionals.

The above points show that there is a demand for qualified managers that is increasing with each passing day. Earning a PMI Project Management Professional (PMP) certification verifies that a project manager holds the necessary knowledge and skill to successfully lead varied and agile teams that increase an organization’s profitability. Enroll in the uCertify study guidel for the PMP certification exam. The study guide will help you pass the exam in your first attempt.