Product management glossary

P

Product Management Terms Starting With

PDCA Cycle

PDCA Cycle, short for Plan-Do-Check-Act Cycle, is a management model that outlines a continuous improvement process for businesses and organizations. It enables organizations to identify problems, develop solutions, and implement and monitor changes to achieve ongoing success.
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PDCA Cycle

PERT Chart

PERT Chart is a project management tool used to plan, schedule, and control complex tasks within a project. It stands for Program Evaluation and Review Technique Chart.
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PERT Chart

Patent

A patent is a legal document that gives inventors exclusive rights to their inventions for a certain period of time, preventing others from making, using, or selling the same invention without permission.
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Patent

Pay-per-click (PPC) advertising

Pay-per-click (PPC) advertising is a digital marketing model where advertisers pay a fee each time their ad is clicked. It is a way of buying visits to a website rather than attempting to earn those visits organically.
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Pay-per-click (PPC) advertising

Pendo

Pendo is a product management platform that allows businesses to collect and analyze user behavior data to optimize their product offerings.
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Pendo

Persona

A persona is a fictional representation of a target customer group that is used to guide product development decisions and marketing strategies. It includes demographic information, behavior patterns, goals, and pain points.
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Persona

Pivot

Pivot is a strategic change in a product's direction in response to market feedback, customer needs, or other external factors that may impact the product's success.
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Pivot

Planning Poker

Planning Poker is a consensus-based technique used by Agile product teams to estimate the effort required to complete a project or feature. It is a game-like approach that allows team members to contribute their perspective and knowledge to arrive at a shared estimate, which leads to more accurate and realistic planning.
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Planning Poker

Platform

A platform is a software or hardware system that provides a foundation for other products or services to be built upon. It typically includes a set of tools, APIs, and infrastructure that enable developers to create and deploy applications or services.
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Platform

Platform Product Manager

A Platform Product Manager is a professional responsible for the strategic planning, development, and execution of a platform product across different teams and stakeholders within an organization.
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Platform Product Manager

Positioning

Positioning is the process of identifying a product's unique features and benefits and communicating them to the target market in a way that differentiates it from competitors.
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Positioning

Pricing Strategy

Pricing strategy refers to the method a company uses to price its products or services. It involves setting a price that is attractive to customers and profitable for the company, taking into account factors such as production costs, competition, and customer demand.
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Pricing Strategy

Prioritization

Prioritization is a product management technique that involves ranking tasks or features based on their importance or value to the user, business, or project goals.
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Prioritization

Prioritization matrix

A prioritization matrix is a tool used in product management to help prioritize tasks or features based on their level of importance and urgency. It typically involves assigning scores to each task or feature based on criteria such as impact, effort, and risk, and then plotting them on a matrix to determine which ones should be tackled first.
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Prioritization matrix

Product

A tangible or intangible item that is created or produced by a company, business or organization that can be sold or offered to customers.
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Product

Product Adoption

Product Adoption refers to the overall process of introducing a new product to the market, and encouraging customers to buy and use it. It is the measurement of the degree to which a product has penetrated a specific market, and is being purchased and used by customers.
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Product Adoption

Product Analytics

Product Analytics refers to the process of collecting, analyzing, and interpreting data related to a product's usage, performance, and customer behavior to inform product decisions and improve its overall success.
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Product Analytics

Product Architecture

Product Architecture is the arrangement of components and subsystems that define the product's structure and functions.
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Product Architecture

Product Backlog

The Product Backlog is a prioritized list of features, enhancements, and bug fixes that a product team maintains for a product. It serves as the single source of truth for the product and is constantly updated based on feedback and changing market conditions.
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Product Backlog

Product Brief

A product brief is a concise document that outlines the key features, benefits, and user experience goals of a product. It serves as a communication tool between product managers, development teams, and stakeholders.
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Product Brief

Product Consolidation

Product consolidation is a process where a company combines multiple products or product lines into a single product offering to simplify their product offerings and improve efficiency.
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Product Consolidation

Product Council

Product Council refers to a team of stakeholders who gather together at regular intervals to assess a product's development and ensure alignment with business goals.
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Product Council

Product Critique

Product Critique is a process of collecting feedback from stakeholders on the performance, design, and functionality of a product
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Product Critique

Product Design

Product design is the process of creating a product’s aesthetics, functionality, and user experience. It includes every aspect of a product’s design, from its initial concept to its final production.
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Product Design

Product Designer

A product designer is responsible for designing and developing the look, feel, and functionality of a product.
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Product Designer

Product Development

Product Development is the process of creating a new product or improving an existing one through research, design, testing, and launch.
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Product Development

Product Development Cycle

The product development cycle is the process of creating, testing, and launching a new product or service in the market.
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Product Development Cycle

Product Development Manager

A product development manager is a professional responsible for overseeing the entire process of product development from concept to launch.
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Product Development Manager

Product Development Process

Product Development Process (PDP) is the systematic and structured approach to designing, developing, testing, and launching a product. PDP covers various stages that are required to create and market a successful product.
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Product Development Process

Product Differentiation

Product differentiation refers to the process of developing and promoting differences between similar products in order to distinguish them from each other and attract customers.
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Product Differentiation

Product Discovery

Product Discovery is the process of identifying and validating a product idea through research, experimentation, and customer feedback to determine if it is worth pursuing.
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Product Discovery

Product Disruptor

Product Disruptor refers to the introduction of a new product or service that fundamentally changes or revolutionizes an existing market space, forcing competitors to adapt or fall behind.
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Product Disruptor

Product Enablement

Product Enablement is the process of equipping a product team with the essential skills, tools, resources, and knowledge to successfully develop, launch, and market a product.
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Product Enablement

Product Engagement Score

A Product Engagement Score is a metric used by product managers to evaluate the level of interaction and activity of users with their product.
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Product Engagement Score

Product Excellence

Product Excellence refers to the process of producing and marketing high-quality products that meet or exceed customer expectations and standards. It involves various activities such as defining product vision, development, launch, and continuous improvement to deliver value to customers.
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Product Excellence

Product Launch

Product Launch refers to the process of introducing a new product to the market. It involves various activities such as market research, product development, marketing, and sales to ensure a successful launch.
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Product Launch

Product Launch Management

Product Launch Management refers to the process of planning, coordinating, and executing the release of a new product or service to the market.
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Product Launch Management

Product Launch Manager

A Product Launch Manager is a professional who manages and coordinates cross-functional teams to successfully launch a new product or service to the market.
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Product Launch Manager

Product Launch Timeline

A product launch timeline is a strategic plan that outlines the specific actions and milestones that a product development team must complete to launch a new product. It includes a detailed schedule with deadlines for product design, testing, production, marketing, and distribution.
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Product Launch Timeline

Product Leadership

Product Leadership is a management approach that focuses on driving innovation, customer satisfaction, and market growth through effective product development and execution.
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Product Leadership

Product Led Growth

Product Led Growth is a business strategy that focuses on using the product itself as the main driver of customer acquisition, retention, and expansion, rather than relying on traditional sales and marketing tactics.
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Product Led Growth

Product Life Cycle

The Product Life Cycle is a marketing concept that tracks the stages of a product's lifespan, from its development to its decline and eventual discontinuation.
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Product Life Cycle

Product Management Audit

Product Management Audit is an evaluation of a company's product management capabilities, processes, and practices.
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Product Management Audit

Product Management Talent

Product Management Talent refers to a combination of skills, competencies, and experience necessary for individuals who manage a product from ideation to post-launch operations.
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Product Management Talent

Product Manager

A Product Manager is an individual responsible for overseeing the development and management of a company's products or services from ideation to launch.
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Product Manager

Product Marketing Manager

A Product Marketing Manager (PMM) is responsible for developing marketing strategies, creating product messaging, and positioning products to make them more appealing to customers.
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Product Marketing Manager

Product Metrics

Product Metrics refer to the quantitative measurements that help product managers analyze and understand the performance of their products. These metrics help to determine if the product is meeting its goals, identify areas for improvement and make data-driven decisions for the product roadmap.
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Product Metrics

Product Mission

A product mission is a statement that describes the purpose and goals of a product. It outlines the problem the product solves and the value it delivers to customers.
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Product Mission

Product Mix Strategy

Product mix strategy refers to a marketing plan that a company uses to determine which products to sell, how to position them in the market, and how to allocate resources to each product based on its potential profitability.
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Product Mix Strategy

Product Operating Model

"What is a Product Operating Model?" refers to the set of processes and strategies used by a company to ensure successful development, delivery, and maintenance of their products.
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Product Operating Model

Product Ops

"Product Ops" is a emerging function in a company's product management team. The role involves improving product development processes, allowing for efficient cross-functional collaboration, and decision-making based on data-driven insights.
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Product Ops

Product Optimization

Product Optimization is the process of improving the performance and profitability of a company's products through a continuous loop of testing and analysis.
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Product Optimization

Product Owner

The Product Owner is a role in Scrum responsible for maximizing the value of the product and ensuring that the Scrum team is aligned with the product vision, roadmap, and stakeholders’ needs.
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Product Owner

Product Planning

Product planning is the process of defining a product strategy and roadmap based on customer and market research, as well as business goals and resources.
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Product Planning

Product Portfolio Management

Product Portfolio Management is a strategic approach that helps businesses to manage their collection of products or services in a coordinated manner to achieve their objectives.
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Product Portfolio Management

Product Portfolio Manager

Product Portfolio Manager is a professional responsible for overseeing a company's entire product portfolio, from development and launch to end-of-life.
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Product Portfolio Manager

Product Positioning

Product positioning is the process of defining the value proposition of a product in relation to its competition and target audience.
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Product Positioning

Product Prioritization Frameworks

Product Prioritization Frameworks are a set of guidelines or methodologies used by product managers to prioritize features, enhancements, and bug fixes for a product. These frameworks help product managers make data-driven decisions by considering factors such as customer needs, business goals, technical feasibility, and market trends.
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Product Prioritization Frameworks

Product Process Matrix

Product Process Matrix is a tool used by product managers to assess the potential of a new product or optimize an existing one by analyzing the impact of product and process decisions on cost, speed, quality, and flexibility.
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Product Process Matrix

Product Profitability

Product Profitability is a measurement of the profitability of a product or group of products calculated by subtracting the total cost of production, marketing and selling from the total revenue generated. The result is the profit margin of a product which can help managers to decide whether to continue the production of the product or to discontinue it.
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Product Profitability

Product Requirements Document

The Product Requirements Document (PRD) is a written document that outlines the requirements, features, and functionality of a product. It serves as a guide for the development team and stakeholders, ensuring that everyone is aligned on the goals and objectives of the product.
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Product Requirements Document

Product Requirements Document (PRD)

A Product Requirements Document (PRD) is a formal document that outlines the requirements, features, and functionality of a product. It serves as a guide for the development team and ensures that all stakeholders are aligned on the product vision and goals.
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Product Requirements Document (PRD)

Product Requirements Management

Product Requirements Management refers to the process of identifying, documenting, prioritizing, tracking and managing the requirements, needs and expectations of a product throughout its lifecycle.
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Product Requirements Management

Product Roadmap

A product roadmap is a high-level visual summary that outlines the vision and direction of a product offering over time. It communicates the why and what behind what you’re building. A roadmap is a guiding strategic document as well as a plan for executing the strategy.
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Product Roadmap

Product Sense

Product sense is the ability to understand user needs, identify gaps in the market, and make informed decisions about product development and strategy.
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Product Sense

Product Specs

Product Specs specify the features, functionalities, and requirements of a product being developed by a team to ensure that it meets the needs of the stakeholders and end-users.
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Product Specs

Product Stack

Product Stack refers to a visual representation of all the products offered by a company that are part of its overall product portfolio.
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Product Stack

Product Strategist

A product strategist is responsible for developing and executing a long-term product vision and strategy that aligns with a company's overall goals, as well as identifying new market opportunities and enhancing existing products.
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Product Strategist

Product Strategy

Product strategy is a long-term plan that outlines how a company will evolve its product offerings to meet specific business goals.
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Product Strategy

Product Strategy Framework

A product strategy framework is a systematic approach to developing and implementing a plan to achieve long-term success for a product. It involves defining the product vision, identifying target customers, analyzing the market, developing a roadmap, and executing the plan.
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Product Strategy Framework

Product Tree

Product Tree refers to a visual representation of a product hierarchy that shows the relationships between the items in a product lineup. It is a useful tool for product managers to organize and plan their product offerings.
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Product Tree

Product Vision

Product Vision is a high-level statement that describes the long-term goals and aspirations of a product. It outlines the purpose, target customers, and unique value proposition of the product, and serves as a guiding light for the product development team.
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Product Vision

Product Vulnerability

Product vulnerability refers to the susceptibility of a product to risks that can compromise its security, potential harm and reputation.
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Product Vulnerability

Product backlog

The product backlog is a prioritized list of features, enhancements, and bug fixes that a product team maintains for a product. It serves as the single source of truth for the product and guides the team's work in delivering value to customers.
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Product backlog

Product lifecycle

Product lifecycle refers to the stages a product goes through from its conception to its eventual retirement. These stages include development, introduction, growth, maturity, and decline.
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Product lifecycle

Product manager

A product manager is responsible for the strategy, roadmap, and feature definition of a product or product line. They work closely with cross-functional teams, including engineering, design, and marketing, to ensure a product's success in the market.
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Product manager

Product owner

The product owner is the person responsible for defining and prioritizing the product backlog and ensuring that the development team delivers the most valuable features and functionality first.
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Product owner

Product positioning

Product positioning is the process of identifying a product's unique value proposition and target market, and creating a strategy to communicate that value proposition to the target market in a way that differentiates the product from competitors.
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Product positioning

Product roadmap

A product roadmap is a high-level visual summary that outlines the vision and direction of a product offering over time. It communicates the why and what behind what you’re building. A roadmap is a guiding strategic document as well as a plan for executing the strategy.
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Product roadmap

Product strategy

Product strategy is a long-term plan for the development and management of a product or product portfolio. It outlines the goals, target market, competitive landscape, and differentiation of the product to ensure its success in the market.
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Product strategy

Product vision

Product vision is a clear and compelling description of what a product will become in the future. It outlines the purpose, goals, and direction of the product, and serves as a guide for the product team to make decisions and prioritize tasks.
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Product vision

Product-Centric

Product-Centric is a strategic approach to product management that places the product at the center of decision-making and focuses on continuously optimizing the product to achieve business goals.
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Product-Centric

Product-Led Growth

Product-Led Growth is a business strategy that focuses on using the product itself as the primary vehicle for customer acquisition, conversion and retention.
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Product-Led Growth

Product-Led Organization

Product-Led Organization is a company approach that prioritizes delivering value through the product, with cross-functional product teams focused on customer success and growth.
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Product-Led Organization

Product-Market Fit

Product-Market Fit is the stage where a product satisfies the needs of the market it is intended for, resulting in high customer satisfaction and demand.
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Product-Market Fit

Product-market fit

Product-market fit is the degree to which a product satisfies the demands of the market it is intended for, and is able to gain traction and generate revenue.
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Product-market fit

Product-market fit matrix

The Product-market fit matrix is a tool used by product managers to evaluate the fit between a product and its target market. It helps to identify the areas where the product needs improvement to better meet the needs of the market.
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Product-market fit matrix

Product-market fit survey

A product-market fit survey is a research tool used by product managers to determine how well their product meets the needs of their target market. It involves gathering feedback from customers to identify areas of improvement and ensure that the product is aligned with market demand.
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Product-market fit survey

Product-market fit survey questions

Product-market fit survey questions are a set of questions designed to gather feedback from potential customers to determine if a product meets their needs and solves their problems. These surveys help product managers understand if their product is a good fit for the market and identify areas for improvement.
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Product-market fit survey questions

Program Management

Program management refers to the coordination and management of multiple related projects that are aligned with organizational goals and objectives. It involves overseeing interdependent projects, managing shared resources, and ensuring that the collective effort is delivering intended benefits.
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Program Management

Program Manager

A Program Manager is a professional who oversees a group of related projects to achieve strategic objectives. They are responsible for planning, coordinating, and tracking the program's progress while managing risks and dependencies between the different projects within the program.
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Program Manager

Project Management

Project Management is the process of planning, organizing, and managing resources to complete a specific project within defined scope, time, and budget constraints.
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Project Management

Project Manager

A project manager is responsible for planning, executing, and closing projects within an organization. This involves coordinating team members, stakeholders, and resources to ensure projects are completed on time, within budget, and to the satisfaction of all involved parties.
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Project Manager

Project Roadmap

Project Roadmap is a visual representation of a project's goals, timelines, and deliverables that shows the high-level overview of the project's progress, targets, and milestones.
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Project Roadmap

Prototyping

Prototyping is the process of creating a preliminary model or sample of a product to test and validate its design, functionality, and usability before the final product is developed and released to the market.
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Prototyping

Public relations (PR)

Public relations (PR) in Product Management refers to the strategic communication between a company and its stakeholders, including customers, investors, and the media, with the goal of building and maintaining a positive image and reputation for the company and its products.
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Public relations (PR)