Five Big Questions For Product Managers

These Are the Five Big Questions Product Managers Need to Ask When Adding New Tech

When businesses task product managers with finding the best new technology to make them more efficient, asking the right questions will help them to decide which innovative tech will align with their business goals and user needs.

There are five big questions that will make this choice easier:

1. Does the new technology solve a key problem within the business?

The first step in the implementation of any new technology is deciding whether it addresses a significant issue or gap within a product or enhances the overall goals of the business. Product managers need to analyze how a technology can potentially streamline processes, enhance productivity and or create opportunities for growth. There needs to be a clear business case for why and how implementing a new technology will benefit your overall business model.

2. What is the potential return on investment and how does it affect the budget?

Having a clear understanding of the financial implications of implementing a technology is vital. With any new tech there is a clear initial cost that needs to fit within the current budget of the business. There needs to be a trajectory and plan as to when a technology will offer the expected savings or revenue. This potential return on investment should influence the prioritization of projects, so product owners will need to continuously evaluate with performance metrics and adjust their budgets to accommodate any changes.

3. What is the adoption learning curve, and will it affect the current team and processes?

Complex technologies require more resources for training and integration. Understanding the learning curve and planning accordingly will ensure that the team ultimately using the technology can do so without disrupting the current workflow. The product manager will need to have a robust change management strategy to ensure buy-in from all the product stakeholders. Tailored training and rollout plans are two important aspects that should be considered as part of a successful adoption strategy.

4. How will the new technology integrate with the current system architecture and workflows?

Product managers need to assess compatibility, data integration requirements, and potential impacts on current systems. A thorough analysis of workflow impacts is crucial, and this should include mapping out current processes and identifying areas within the architecture that require change. Furthermore, any integration with a new technology needs to accommodate future growth and updates, maintaining flexibility for long-term scalability.

5. Are there any privacy and security considerations that need to be addressed with the new technology?

It’s vital that businesses avoid implementing technologies that could introduce vulnerabilities or cause issues with regulatory bodies further down the line. New technologies have seen increased benefits for users, but this has also required businesses to be more stringent in order to protect their organizations and build trust with users. Key considerations include ensuring compliance with data protection regulations like GDPR, implementing robust data governance policies, and addressing potential vulnerabilities that could lead to data breaches or unauthorized access.

Ask these five important questions to ensure success

By asking these questions, a product owner can make well-informed decisions regarding the adoption of any new technology, ensuring it aligns with both business objectives and user needs while at the same time mitigating potential risks.

For more information on how to evaluate new technology trends and product offerings and how best to implement them, read Hype Driven Product Development: Using Strategic Frameworks to Implement New Technology.