The past 20 years have been a seemingly golden era for professional development in product management. Hundreds of thousands of professionals have participated in product management training. Product management is now on the curriculum at major business and computer science programs. There are myriad options for in-person, on-line, and degree programs for anyone interested in product management training.
Yet despite the explosion in the number of professionals trained in product management and the available options for that training, traditional training has not produced a material impact on the practice's improvement and growth.
Product management is clearly defined and understood in only 21% of organizations;[i]
Processes, roles definition, and overall alignment are the most significant challenges in product management;[ii] and
47% of respondents identified process as the biggest challenge for product management in their company, and 51% said their product management process is not well-defined.[iii]
These issues with process, roles, and alignment show up in poor results, with research identifying that 72% of all new products developed fail to meet their revenue targets.[iv] Traditional product management training is not meeting the objectives of today's organizations.
For the product management profession to improve these results, professional development needs to evolve.
In 2021, Product Growth Leaders researched the current state of product management professional development and best practices from adult learning and professional development. Our findings from this research and our recommendations for how product management professional development needs to evolve are in our White Paper "The State of Product Management Professional Development" which can be downloaded here.