Robert Tiedt

As a product manager or product owner in the realm of digital products, you’re often faced with the distinction between „managing“ and „owning“ a product. While the terms might seem interchangeable, there’s a subtle yet significant difference that shapes the approach and mindset of professionals in these roles. Let’s delve into this disparity and explore why, despite the title, a product owner doesn’t truly „own“ the product and why both terms might be misleading.

Managing a Product: Aligning the product with business objectives

Product management involves a more high-level point of view compared to being a product owner, encompassing strategic planning, stakeholder coordination, and budget decisions. Managers are entrusted with the responsibility of steering the product towards success by aligning it with business objectives, customer needs, and market demands. They serve as the connectors to a cross-functional team, guiding them through each phase of the product lifecycle. Product managers act as the liaison between different departments, translating customer feedback into actionable insights and fostering a culture of continuous improvement.

Owning a Product: Accountability with Boundaries

On the other hand, the title of „product owner“ might suggest a sense of ownership akin to possessing a tangible asset. However, in reality, the term signifies a different kind of ownership — one rooted in accountability rather than possession. A product owner is accountable for maximizing the value of the product by defining and prioritizing its features, maintaining a clear product backlog, and ensuring that the team’s efforts align with the overarching vision. They represent the voice of the customer, advocating for their needs and preferences throughout the development process.

Why both terms are misleading

If you think about the relationship between product managers and product owners, you will come to the conclusion that the product manager has a more high level role and the product owner is responisble for the operational part. But when you look at how these terms / roles are defined in other contexts, then we might reconsider their definition in the realm of product development. I would like to illustrate this with an example from owning and managing a property.

As the property owner, you hold the legal title and rights to the property, entitling you to make decisions regarding its use, transfer, or sale. Your ownership grants you the authority to set rental rates, approve lease agreements, and make long-term investment decisions, such as property improvements or expansions. Ultimately, you bear the financial risks and rewards associated with property ownership, including taxes, mortgage payments, and potential appreciation or depreciation in property value.

In contrast, property management involves the hands-on administration and supervision of the rental property to ensure its efficient operation and maintenance. A property manager, whether hired by the owner or a third-party management company, takes on the day-to-day responsibilities of tenant relations, lease administration, maintenance coordination, and financial management. They handle tasks such as rent collection, property maintenance and repairs, tenant screening, and resolving tenant disputes. While the property manager acts on behalf of the owner to preserve the property’s value and generate rental income, they do not hold legal ownership of the property itself.

In summary, property ownership means to make decisions for the overall „direction“ and maximize its value, while management involves the practical execution of tasks to ensure its effective operation and maintenance. In our world of digital product development it is the other way around.

As a product manager, I’ve been fascinated by the intersection of technology and innovation. In recent years, the rise of artificial intelligence (AI) has presented both opportunities and challenges for professionals in various industries, including product management. In this blog post, I’ll explore the evolving role of AI in product management and discuss when AI might start doing aspects of my job.

1. Data Analysis and Insights
   One area where AI is increasingly taking center stage is in data analysis and generating actionable insights. In my daily work I rely heavily on data to make informed decisions about product strategy, feature prioritization, and user experience improvements. AI-powered analytics tools can sift through vast amounts of data, identify patterns, and surface valuable insights that might otherwise go unnoticed. While AI can’t replace human intuition and strategic thinking, it can certainly augment my abilities by providing deeper insights at scale.
2. Predictive Modeling and Forecasting
   Another area where AI excels is in predictive modeling and forecasting. From predicting user behavior to forecasting market trends, AI algorithms can analyze historical data and make projections about future outcomes. Leveraging AI-powered forecasting tools can help me anticipate shifts in user demand, identify emerging opportunities, and proactively adjust my product roadmap accordingly. By harnessing the power of AI-driven forecasting, I can stay ahead of the curve and make more informed decisions about the direction of my product.
3. Automation of Routine Tasks
   One of the most significant ways AI is impacting the role of product managers is through the automation of routine tasks. From data entry and reporting to scheduling meetings and managing workflows, AI-powered automation tools can streamline mundane tasks, freeing up more time for me to focus on higher-value activities such as strategic planning, stakeholder engagement, and product innovation. While AI can’t replace the human touch in areas requiring creativity, empathy, and critical thinking, it can certainly enhance my productivity and efficiency by automating repetitive tasks and administrative overhead.

And where are the limits?

While AI has the potential to influence many aspects of product management, there are certain fields where its capabilities are unlikely to fully replace human expertise and intuition. Understanding these limitations can help product managers leverage AI effectively while also recognizing the value of human insight and creativity in the following areas:

1. Strategic Vision and Innovation
   At its core, product management is about envisioning the future and driving innovation. While AI can analyze data and identify patterns, it’s ultimately up to human product managers to define a strategic vision, set ambitious goals, and chart a course for the future. AI may provide valuable insights and recommendations, but it’s the human ability to think creatively, anticipate market trends, and envision new possibilities that drives true innovation.
2. Stakeholder Engagement and Communication
   Effective product management requires strong interpersonal skills and the ability to build relationships with stakeholders across the organization. While AI can automate certain communication tasks, such as scheduling meetings or sending status updates, it’s the human touch that fosters trust, alignment, and collaboration. Product managers play a crucial role in bridging the gap between technical teams, business stakeholders, and end-users, translating complex ideas into actionable plans and fostering a shared sense of purpose.
3. User Empathy and Experience Design
   Understanding the needs, preferences, and pain points of users is at the heart of product management. While AI can analyze user data and generate insights, it lacks the human ability to empathize with users on a deeper level. Product managers bring a unique perspective to the table, drawing on their empathy and intuition to design products that resonate with users on an emotional level. From crafting intuitive user interfaces to designing seamless customer journeys, the human touch is indispensable in creating truly exceptional user experiences.
4. Ethical Decision-Making and Values Alignment
   As AI becomes increasingly integrated into product management processes, it’s crucial to consider the ethical implications and ensure that AI systems align with core values such as fairness, transparency, and accountability. While AI can assist in identifying potential ethical risks, it’s ultimately up to human product managers to make nuanced decisions that balance competing interests and uphold ethical principles. Product managers play a critical role in championing ethical practices, advocating for user privacy and data security, and ensuring that AI is deployed responsibly to benefit society as a whole.

Conclusion

As AI continues to evolve and reshape the landscape of product management, it’s essential for professionals in the field to adapt and embrace the opportunities that AI presents. From data analysis and predictive modeling to personalization and automation, AI has the potential to augment our capabilities, drive innovation, and create more compelling product experiences for users. By staying informed, leveraging AI responsibly, and maintaining human oversight, product managers can harness the power of AI to unlock new possibilities and navigate the ever-changing landscape of product management with confidence and foresight.

While AI holds immense potential to enhance various aspects of product management, there are certain fields where its capabilities are unlikely to fully replace human expertise and intuition. Strategic vision and innovation, stakeholder engagement and communication, user empathy and experience design, and ethical decision-making are areas where the human touch remains indispensable. By understanding the limitations of AI and leveraging its capabilities effectively, product managers can harness the power of technology to drive innovation, create compelling user experiences, and navigate the complexities of product management with confidence and foresight.

As product managers, we’re often immersed in the complexities of strategy, data analysis, and stakeholder management. But what if we took a step back and looked to the playground for inspiration? Children, with their boundless curiosity and uninhibited creativity, can teach us valuable lessons about innovation, collaboration, and resilience. In this blog post, I’ll explore what product managers can learn from observing and emulating the behaviors of playing kids.

Embrace Curiosity

Children are natural explorers, constantly asking „why“ and seeking to understand the world around them. As product managers, we can learn to embrace this same spirit of curiosity. Instead of accepting the status quo, ask probing questions, challenge assumptions, and relentlessly pursue new ideas. By fostering a culture of curiosity within your team, you’ll uncover hidden opportunities and drive innovation forward.

Emphasize Experimentation

On the playground, every game is an experiment. Children try new things, learn from their mistakes, and adapt their approach accordingly. Product managers can adopt a similar mindset of experimentation. Instead of waiting for perfect solutions, encourage your team to prototype, test, and iterate rapidly. Embrace failure as a natural part of the learning process, and celebrate the insights gained from each experiment.

Foster Collaboration

Playgrounds are bustling hubs of collaboration, where children work together to build sandcastles, play games, and imagine new worlds. As product managers, we can learn the importance of fostering collaborative environments where diverse perspectives are valued and teamwork is celebrated. Break down silos, encourage cross-functional collaboration, and create opportunities for serendipitous interactions. By harnessing the collective intelligence of your team, you’ll unlock new levels of creativity and innovation.

Embrace Resilience

Children are masters of resilience, bouncing back from setbacks with remarkable ease. Here we can learn to cultivate this same resilience in the face of adversity. Embrace challenges as opportunities for growth, and maintain a positive attitude even when things don’t go as planned. Encourage your team to persevere in the face of obstacles, knowing that each setback brings us one step closer to success.

Celebrate Playfulness

Above all, playing kids remind us of the joy and spontaneity inherent in the creative process. As product managers, we can learn to infuse our work with a sense of playfulness and fun. Encourage creativity, embrace experimentation, and don’t be afraid to think outside the box. By fostering a culture of playfulness within your team, you’ll create an environment where innovation thrives and magic happens.

Summary

The next time you find yourself stuck in the weeds of product management, take a moment to observe the children at play. Their boundless curiosity, fearless experimentation, collaborative spirit, resilience, and playfulness serve as powerful reminders of what it means to innovate and create. By emulating the behaviors of playing kids, we can unlock new levels of creativity, collaboration, and success in our product management journey. So go ahead, embrace your inner child, and let the playground inspire you to greatness.