By Marla Schimke
Head of Product Marketing | Clarity PPM
Well that headline got your attention didn’t it! But seriously, we are convinced digital product management, or DPM, is going to change how you create value for your business. It will define your business investment strategy, and how you transition from a traditional project-based approach to a modern product-centric business model.
In this blog series, we’re going to introduce you to the five steps to DPM and highlight how Broadcom’s solution is designed to support your journey. We’ve been investing in Clarity PPM and Rally Software for several years, building an integrated platform that truly delivers – and not one that simply claims to support the latest trends.
But why DPM?
Companies are changing how they look at investments. In a digitally enabled world, where change is happening ever more rapidly, you can’t simply invest in a project that could be obsolete before it’s even done. You need to ensure the product you build both aligns with business strategy and provides the most value to your customers. This can no longer be managed in siloed projects.
Instead, you need to pivot to investing in sustainable assets, like platforms and products. Those are your inventory of digital products and the way you manage those products, how you leverage them and the investments you make in them will define how successful you are as a digitally enabled business – hence the importance of DPM. Think about Apple’s iPhone, for example. That’s a digital product that needs to be managed as one sustained asset and not many different projects.
At the heart of this is the concept of the product. Don’t think of that in legacy terms, in a DPM world a product is simply:
- A sustained asset with no predetermined life span
- Something delivering value that can be articulated in business terms
- Something receiving explicit funding and resourcing
The shift from project and program management to digital product management is already underway. Gartner referred to it in a recent keynote and case studies are emerging of the approach in action (food giant Monsanto is one).
The team at Broadcom saw this trend emerging and we’ve built a solution that lets you embrace DPM with speed and ease. Follow us through these blog posts to see the five steps of:
- Organize
- Map
- Prioritize
- Empower
- Act
Leave a comment and let us know what you think about digital product management.