{"id":82741,"date":"2024-08-29T14:57:53","date_gmt":"2024-08-29T13:57:53","guid":{"rendered":"https:\/\/www.prodpad.com\/?p=82741"},"modified":"2025-01-13T16:24:44","modified_gmt":"2025-01-13T16:24:44","slug":"product-manager-tasks","status":"publish","type":"post","link":"https:\/\/www.prodpad.com\/blog\/product-manager-tasks\/","title":{"rendered":"The Complete List of Product Manager Tasks"},"content":{"rendered":"\n<p>What does a Product Manager actually do? This isn\u2019t a trick question, we promise. Think about it for a second. You may know the Product Manager tasks <em>you<\/em> do, but we guarantee that the answers from the wider community will be different. Why? Well, because there\u2019s so much that a Product Manager <em>could<\/em> be asked to do.&nbsp;<br><br>Unlike other roles in a company, it\u2019s hard to condense the job description of a PM into a single sentence and still capture all that the role entails. There lies the fun of Product Management, it can be shaped and sculpted into whatever your organization needs. <a href=\"https:\/\/www.deanondelivery.com\/product_management\/the-many-hats-product-managers-wear%e2%80%8a-%e2%80%8aa-semi-definitive-list\/\" target=\"_blank\" rel=\"noreferrer noopener\"> Product Managers wear many different hats<\/a> and fill multiple different roles, kind of like a Broadway actor who\u2019s constantly slipping into the costume of multiple characters. That\u2019s what makes it such a challenging yet rewarding job.&nbsp;<br><br>To help you find clarity on what you need to be doing as a Product Manager, we\u2019ve put together a long list of all the possible Product Manager tasks you may need to fulfill. Think of it as a menu where you\u2019re picking off the items that are most relevant to you.&nbsp;<br><br>We\u2019re not going to get into too much detail on how to perform these tasks or get good at them. We\u2019ve got countless pieces of insight about all that which you can<a href=\"https:\/\/www.prodpad.com\/blog\/\"> search for here<\/a>. Instead, we\u2019re going to give you a brief overview of the task and then move on, while linking to useful resources for you to find out more. Capisce?&nbsp;<br><br>So, whether you\u2019re defining a new Product Manager role for your business, writing a job description, restructuring your product team, or just want a refresher on your responsibilities, here\u2019s our list of some of the most essential Product Manager tasks. We\u2019ve also put them into neat categories for you.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"985\" height=\"1024\" src=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/List-of-Product-Manager-Tasks-1-985x1024.png\" alt=\"ProdPad list of key Product Manager tasks\" class=\"wp-image-82743\" srcset=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/List-of-Product-Manager-Tasks-1-985x1024.png 985w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/List-of-Product-Manager-Tasks-1-289x300.png 289w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/List-of-Product-Manager-Tasks-1-768x798.png 768w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/List-of-Product-Manager-Tasks-1.png 1432w\" sizes=\"auto, (max-width: 985px) 100vw, 985px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-communication-based-product-manager-tasks\">Communication-based Product Manager tasks<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-meetings\">Meetings<\/h3>\n\n\n\n<p>As a PM, you\u2019ll be having conversations with everyone, be that the developers and designers on your team, executives, and even customers. This level of communication is great, as it helps you sync up with the wider organization and keep everything aligned, but it does mean that you\u2019ll be in a lot of different types of meetings. In fact, this is one of the main tasks of a Product Manager: you\u2019re going to have meetings scheduled pretty much every day. Meeting after meeting after meeting.&nbsp;<br><br>It\u2019s really important not to see meetings as a chore or something to just tick off the list. Each meeting you host or participate in should be beneficial and support overall product development in some way. If it doesn\u2019t, don\u2019t be scared to bin off the meeting. If everyone in it is thinking, \u201cThis could have been an email\u201d, make it one.&nbsp;<br><br>There are multiple types of meetings you\u2019ll be in as a Product Manager, these include:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Standups<\/strong>: A short daily meeting with the wider team to sync up work, identify any blockers, and make sure that everyone\u2019s tasks are aligned for the day.<\/li>\n\n\n\n<li><strong>Sprint planning: <\/strong>A meeting at the beginning of each sprint to plan and prioritize work for the upcoming sprint cycle<strong> <\/strong>so the team understands its goals.<strong>&nbsp;<\/strong><\/li>\n\n\n\n<li><strong>CAB meetings<\/strong>: Meetings with valuable customers to gather insights about the product and customer needs to improve what you offer. Learn more about <a href=\"https:\/\/www.prodpad.com\/blog\/customer-advisory-board-best-practices\/\">Customer Advisor Board best practices<\/a>.&nbsp;<\/li>\n\n\n\n<li><strong>Feedback calls: <\/strong>To gain insights from customers who aren\u2019t on your Customer Advisory Board, you\u2019re also be holding regular feedback calls to understand their needs, wants, and frustrations.&nbsp;<\/li>\n\n\n\n<li><strong>Roadmap planning: <\/strong>A quarterly or bi-annual meeting to plan and update the product roadmap, discussing long-term goals and priorities with leadership teams.<\/li>\n\n\n\n<li><strong>Stakeholder meetings: <\/strong>Meetings with other stakeholders within the organization to give updates on the product process and gather feedback.&nbsp;<\/li>\n\n\n\n<li><strong>Backlog refinement meetings<\/strong>: A meeting to review and refine the current product backlog to ensure items are optimized and ready to be actioned in upcoming sprints. Learn how to get the backlog refinement meeting right below \ud83d\udc47.&nbsp;<\/li>\n<\/ul>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/the-backlog-refinement-meeting\/\" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">The Backlog Refinement Meeting: Your Guide to Getting it Right<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<p>Participating in these meetings isn\u2019t the only thing you need to consider. If you\u2019re leading them, then you\u2019ll also be tasked with writing meeting agendas, structures, and follow-up actions from the meetings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-team-nurturement\">Team Nurturement<\/h3>\n\n\n\n<p>As a Product Manager, you\u2019re communicating and collaborating with many different people &#8211; we think the previous section makes that very clear. This means that building and nurturing relationships within your team and beyond is a really important task that you need to tackle pretty much every day.&nbsp;<br><br>By working on nurturing your team, you can improve the productivity and performance of key people, helping you to get the most out of them, which in turn helps you to craft a better product.&nbsp;<br><br>Meetings and keeping up communication are great ways to nurture your team, but another is transparency. By making decisions based on evidence you can show, you build trust and understanding with your team, helping to develop a good culture that ensures that everyone is pulling in the same direction. By nailing your <a href=\"https:\/\/www.prodpad.com\/blog\/product-management-team-structure\/\">product team structure<\/a>, you can further improve the nurturing of your team.<\/p>\n\n\n\n<div class=\"row is-style-default\">\n<div class=\"col is-style-emphasis\"><div class=\"col__style\">\n<p>\u201cTo nurture your team you want to formulate a strong partnership between key team members like the Product Manager, engineer, and design leads, leveraging the concept of the product trio team structure to do so.<br><br>This approach isn\u2019t transactional but is instead based on open collaboration and mutual respect for ideas that may cross their base competencies. This approach nurtures true collaboration as everyone has a seat at the table. There\u2019s fewer challenges from back and forth between teams to envision the product, creating less friction and a more aligned team.\u201d<br><br>&#8211; <a href=\"https:\/\/www.linkedin.com\/in\/mmedric\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Mike Medric<\/strong><\/a><strong>, Senior Director of Product Management and Operations at Forbes<\/strong><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-document-writing\">Document writing<\/h3>\n\n\n\n<p>As the PM, you\u2019ll be crafting multiple documents that help you provide clarity, direction, and a shared understanding of what you\u2019re building and why. Among your other tasks, a Product Manager is also the storyteller, the strategist, and the scribe all rolled into one. The documents you create help to illuminate your wider team so that they\u2019re not left in the dark and aren\u2019t building misaligned expectations.&nbsp;<br><br>There are a few different types of documents you can create, but some of the most essential that you\u2019ll be creating as part of this Product Manager task include:<br><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>The Product Requirements Document (PRD): <\/strong>This outlines the what, why, and how of the product or feature. It\u2019s your chance to detail everything from user stories to technical specs, ensuring everyone from devs to designers knows exactly what they\u2019re building.<\/li>\n\n\n\n<li><strong>User Stories<\/strong>: A <a href=\"https:\/\/www.prodpad.com\/glossary\/user-story\/\">user story<\/a> is a fundamental part of Product Management that details the functionality of your product from the user&#8217;s perspective. <a href=\"https:\/\/www.prodpad.com\/blog\/writing-user-stories-quick-wins\/\">Writing user stories<\/a> helps you discover more about what your product needs to be able to do.&nbsp;<\/li>\n\n\n\n<li><strong>User Personas<\/strong>: Creating user personas helps you better understand who you\u2019re building your product for. They provide laser-sharp clarity that guides your design so that your user\u2019s needs are always kept in mind.<\/li>\n\n\n\n<li><strong>Product Strategy Document: <\/strong>A product strategy document outlines your product strategy, detailing business goals, product goals, limitations, and market research to create an overall vision. A good <a href=\"https:\/\/www.prodpad.com\/blog\/product-strategy-document\/\">Product Strategy Document<\/a> defines the unique benefits of your product.<\/li>\n\n\n\n<li><strong>Release Notes: <\/strong>These are the documents that communicate what users should expect from the newest version of your product. It details the new features you\u2019ve implemented, what you\u2019ve changed and improved, as well as anything you\u2019ve removed or fixed.<\/li>\n\n\n\n<li><strong>Product Proposal<\/strong>: This is a document that helps you outline an idea into an actionable plan. <a href=\"https:\/\/www.prodpad.com\/blog\/product-proposal\/\">Writing a product proposal<\/a> can be what gets a product idea over the line and greenlit.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>These are by no means all that you should be documenting. In fact, there\u2019s a lot of information about your product you should be recording for your internal stakeholders and customers. Remember, information is key to being a successful Product Manager, so if you feel that it\u2019s beneficial to record something about the product, do it.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-research-and-discovery-product-manager-tasks\">Research and discovery Product Manager tasks<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-discovery\">Product discovery<\/h3>\n\n\n\n<p>Product discovery is a crucial task and one that you\u2019re going to be doing constantly as a Product Manager. You want to be completing <a href=\"https:\/\/www.prodpad.com\/glossary\/continuous-discovery\/\">continuous discovery<\/a> throughout your role, which is where you\u2019re constantly experimenting, learning, and applying what you\u2019ve learned to make something better. In the world of Product Management, every day is a school day.<br><br>Product discovery is your detective work \ud83d\udd0e. It\u2019s the process of uncovering the true needs of your users, identifying the right problems to solve, and exploring the best solutions. It\u2019s not just about finding out <em>what<\/em> to build, but <em>why<\/em> you\u2019re building it and <em>how<\/em> it will impact your users. The beauty of product discovery is that it\u2019s not a one-and-done task; it\u2019s a continuous effort.<br><br>There are multiple ways you can tackle your product discovery, whether it\u2019s through user interviews, <a href=\"https:\/\/www.prodpad.com\/glossary\/ab-testing\/\">A\/B testing<\/a>, prototyping, or data analysis. Whatever tactic you choose, just make sure it can help you learn something about your product.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-building-domain-knowledge\">Building domain knowledge<\/h3>\n\n\n\n<p>Within your role as a Product Manager, you need to do what you can to understand the domain that your product operates in. This is a major part of product discovery, as these key learnings may help you identify solutions and ideas to improve the product.&nbsp;<br><br>For example, if you\u2019re a Product Manager for a crypto business, but haven\u2019t got the foggiest idea of what a bitcoin is, you\u2019re going to struggle to be a good Product Manager for that company. Building domain knowledge ensures you have the expertise to thrive in your field.<\/p>\n\n\n\n<div class=\"row is-style-default\">\n<div class=\"col is-style-emphasis\"><div class=\"col__style\">\n<p>&#8220;A very important task that PMs should make time for is building up at least a basic knowledge of the domain you are in. You don\u2019t need to be a subject matter expert &#8211; which is a misunderstood stance that many Product Managers have &#8211; but you need to know enough to make decisions while being credible to users.&#8221;<br><br><strong>&#8211; <a href=\"https:\/\/www.linkedin.com\/in\/reginereincke\/\" target=\"_blank\" rel=\"noreferrer noopener\">Regine Reincke<\/a>, Head of Product at Topicus<\/strong><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-market-research\">Market research<\/h3>\n\n\n\n<p>Conducting market research is a key Product Manager task. Doing it enables you to learn about new trends and competitors in the industry you operate in. A key aspect of research and discovery, this task gives you insight to make key decisions about your product, influencing how you update features, pricing strategy, and more.&nbsp;<br><br>Without solid market research, you\u2019re just guessing what your customers need. By doing it regularly, you\u2019re able to tap into the pulse of the industry and make sure that you\u2019re ahead of the curve. You can uncover hidden opportunities, identify potential threats, and understand the competitive landscape. With this knowledge, you can position your product not just as another option on the shelf but as <em>the<\/em> must-have solution. A hunch might work once in a blue moon, but consistent success? That\u2019s built on data-driven insights.&nbsp;<br><br>Looking to improve how you do market research? We\u2019ve got a list of the best tools to help you below \ud83d\udd3d.<\/p>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/product-research-tools\/\" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">The Best Product Research Tools for Product Management Teams<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-customer-research\">Customer research<\/h3>\n\n\n\n<p>Customer research differs from market research, but it\u2019s an equally important Product Manager task. Customer research is all about gathering insight from your customers, and there are multiple ways you can do this. You can run <a href=\"https:\/\/www.prodpad.com\/blog\/customer-feedback-sessions\/\">customer feedback sessions<\/a>, surveys, or simply track customer metrics to see how they\u2019re interacting with your product.<br><br>Customer research is your direct line to the people who matter most: your users. While market research gives you the big picture, customer research zooms in on the individuals who are actually using your product. It\u2019s about getting up close and personal with their needs, pain points, and desires. After all, you can\u2019t build a product that people love unless you understand what makes them tick. Completing this task gives you evidence to back up your decision-making, ensuring that every change you make is rooted in real user needs.&nbsp;<br><br>One great way to conduct customer research is to <a href=\"https:\/\/www.prodpad.com\/blog\/better-feedback-training\/\">train your customer teams to get really useful feedback<\/a>.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-customer-feedback-strategy\">Customer feedback strategy<\/h3>\n\n\n\n<p>We\u2019ve just touched on the importance of customer research and gathering feedback. But to get the most out of it you need a game plan for organizing how you collect this feedback and turn it into actionable insights. It\u2019s not just about asking for opinions; it\u2019s about setting up a streamlined approach that ensures you\u2019re not just gathering data but actually using it to make your product better.<br><br>When building a customer feedback strategy, here are some of the steps you need to include:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Collecting Feedback:<\/strong> Use surveys, interviews, and feedback forms to gather user insights. Think of it as setting up multiple channels to catch every valuable piece of input &#8211; no feedback gets left behind.<\/li>\n\n\n\n<li><strong>Organizing Feedback:<\/strong> Sort and categorize the feedback you receive. It\u2019s like curating a massive pile of post-its into neat, actionable insights. Chaos may be great for creativity, but order is key for execution.<\/li>\n\n\n\n<li><strong>Analyzing Feedback:<\/strong> Dive into the data to identify patterns and trends. This is where you connect the dots and figure out what the feedback is really telling you.<\/li>\n\n\n\n<li><strong>Acting on Feedback:<\/strong> Implement changes based on your insights. Turn those golden nuggets of feedback into real product improvements, making sure your users see that their voices are making a difference.<\/li>\n\n\n\n<li><strong>Closing the Loop:<\/strong> Communicate back to your users about the changes you\u2019ve made based on their feedback. It\u2019s the \u201cthank you\u201d note that lets them know you\u2019re not just listening, but actively improving.<\/li>\n<\/ul>\n\n\n\n<p>Keen to learn how to craft a killer Customer feedback strategy? Check out our guide below \u23ec.<\/p>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/customer-feedback-strategy\/ \" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">Customer Feedback Strategy: How to Use Feedback to Make Your Product Better<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-ux-research\">UX research<\/h3>\n\n\n\n<p>UX research helps Product Managers better understand how customers are interacting with your product. It focuses on behaviors to help you identify trends that you can then use to improve the user experience. It\u2019s all about observing how real people use your product, understanding what delights them and what drives them crazy.<br><br>UX research can help you find out if users are struggling to access a feature, are having friction with a certain function, and see if they\u2019re using your product as you intended. All this is an important Product Manager task, because if your users find the experience frustrating, then they\u2019ll be heading for the exit faster than a cheetah at lunchtime.<br><br>Remember, <a href=\"https:\/\/www.prodpad.com\/blog\/ux-vs-ui\/\">UX and UI are different<\/a>, but the findings you get from UX research can influence how you design the user interface of your products. This research allows you to make your product more seamless to use, so be sure to add it to your recurring list of Product Manager tasks.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strategy-and-planning-product-manager-tasks\">Strategy and planning Product Manager tasks<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-okrs-amp-kpis-setting-nbsp\">OKRs &amp; KPIs Setting&nbsp;<\/h3>\n\n\n\n<p>When building a product or feature, before you even get to set your strategy, you need to know what data and performance metrics you need to track to see if it\u2019s doing well.&nbsp;<br><br>As the Product Manager, you need to establish your <a href=\"https:\/\/www.prodpad.com\/glossary\/okrs\/\">Objectives and Key Results (OKRs)<\/a>, which will then feed into what KPIs you track throughout the product life cycle. Your OKRs aren\u2019t just pie-in-the-sky dreams; they\u2019re ambitious yet achievable goals that will make your product shine if hit.&nbsp;<br><br>Those OKRs will help you identify the <a href=\"https:\/\/www.prodpad.com\/blog\/product-management-kpis\/\">Key Performance Indicators (KPIs)<\/a> you need to track as you iterate your product. By knowing your North Star vision, you\u2019ll be able to set appropriate KPIs that act as a stethoscope constantly measuring the pulse of your product, making sure it\u2019s not just surviving, but thriving. OKR and goal setting are a major part of building your <a href=\"https:\/\/www.prodpad.com\/blog\/business-strategy-vs-product-strategy\/\">product strategy<\/a>.&nbsp;<br><br>Here are some excellent Product OKR examples to inspire you, and improve your goal-setting \u2198\ufe0f.<\/p>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/18-product-okr-examples\/\" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">18 Product OKR Examples to Kick-start Your Goal Setting<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-kpis-tracking-nbsp\">KPIs tracking&nbsp;<\/h3>\n\n\n\n<p>Of course, you can\u2019t just set and forget your KPIs, you need to track them consistently. Tracking KPIs is an important Product Manager task, as it helps you gain insight to assess the health of your product. The KPIs you track are determined by the overarching goals you set at the start of the project and should be aligned with your goals to clearly indicate whether you\u2019re meeting them.&nbsp;<br><br>There are a lot of KPIs that you can track, related to multiple parts of product management. There are multiple <a href=\"https:\/\/www.prodpad.com\/blog\/product-adoption-metrics\/\">product adoption metrics<\/a> you should be tracking, <a href=\"https:\/\/www.prodpad.com\/glossary\/aarrr\/\">Pirate Metrics<\/a> to help you track the overall customer lifecycle, and <a href=\"https:\/\/www.prodpad.com\/blog\/product-launch-metrics\/\">product launch metrics<\/a> to name just a few. It\u2019s enough to make you go dizzy.&nbsp;<br><br>Tracking KPIs is a key task for Product Managers. You can\u2019t avoid it. If you\u2019re finding it overwhelming, we\u2019ve got a downloadable resource detailing all the most important KPIs and metrics you need to follow. No extra fluff. You can check it out below:<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.prodpad.com\/downloads\/product-management-kpis\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"240\" src=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/05\/Product-KPIs-Blog-banner-1280x300-2-1024x240.png\" alt=\"product metrics e-book\" class=\"wp-image-80602\" srcset=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/05\/Product-KPIs-Blog-banner-1280x300-2-1024x240.png 1024w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/05\/Product-KPIs-Blog-banner-1280x300-2-300x70.png 300w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/05\/Product-KPIs-Blog-banner-1280x300-2-768x180.png 768w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/05\/Product-KPIs-Blog-banner-1280x300-2.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-financial-tracking-nbsp\">Financial Tracking&nbsp;<\/h3>\n\n\n\n<p>The data and information you get from tracking KPIs are useful tools for Product Managers to help them make better decisions. However, another set of data that PMs should be tracking is the financial performance of their product.&nbsp;<br><br>By completing the regular task of financial tracking, such as tracking MRR or ARR,&nbsp; you\u2019ll have a better understanding of your profits or losses, which can significantly influence how you approach iteration and improvements to your product. It can also lead to you changing your pricing strategy.&nbsp;<\/p>\n\n\n\n<div class=\"row is-style-default\">\n<div class=\"col is-style-emphasis\"><div class=\"col__style\">\n<p><strong>\u201c<\/strong>Having visibility into company finances may be important for Product Managers because they may one day be asked to manage the profit and loss balance sheets of their product or portfolio. PMs can become GMs, meaning that they\u2019ll be expected to hold accountability for the bottom line and budget of their team.&nbsp;<br><br>I\u2019ve seen job descriptions that mention profit and loss ownership as part of the role, especially for growth Product Managers where a key responsibility is helping to grow revenue and other metrics, so you shouldn\u2019t shy away from awareness of the financials of your company.\u201d&nbsp;<br><br><strong>&#8211;<\/strong> <a href=\"https:\/\/www.linkedin.com\/in\/gerelee\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Lee Howard<\/strong><\/a><strong>, Featured Speaker &amp; Google Product Consultant<\/strong><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-pricing-strategy-creation\">Pricing Strategy Creation<\/h3>\n\n\n\n<p>To get the most out of your product, you need to price it effectively, making sure that you use the right pricing model and have the right price range that attracts customers. There\u2019s more to it than just slapping a price tag on your product and hoping for the best. To find the best pricing model, creating a pricing strategy needs to become a core task you perform.&nbsp;<br><br>You need to consider multiple factors when building your pricing strategy to ensure that you\u2019re identifying the right model that best suits your needs. This includes assessing your costs, understanding your target market, and analyzing your competitors. There\u2019s far more to this task than just setting your pricing at around what your competitors charge. You shouldn\u2019t be playing copycat when creating your pricing strategy.&nbsp;<br><br>You\u2019ve got multiple pricing models that you can choose from, including:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Freemium<\/strong>: You provide a basic, free-to-use version of your product where users can pay to upgrade to access more premium features.&nbsp;<\/li>\n\n\n\n<li><strong>Reverse trial: <\/strong>A <a href=\"https:\/\/www.prodpad.com\/glossary\/reverse-trial\/\">reverse trial<\/a> is a model that gives users access to your entire product for a period of time before downgrading users to the free version.&nbsp;<\/li>\n\n\n\n<li><strong>Subscription<\/strong>: You charge a recurring fee for ongoing access, providing steady revenue.<\/li>\n\n\n\n<li><strong>Pay-per-use pricing<\/strong>: A flexible pricing model where users pay as they go, only being charged based on their actual usage.&nbsp;<\/li>\n\n\n\n<li><strong>Bundling<\/strong>: This is where customers can pick the features they want to buy and bundle them into one package.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p>To pick the right model for you, you first need to complete the Product Manager task of building your pricing strategy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-positioning\">Product Positioning<\/h3>\n\n\n\n<p>As a Product Manager, your role is more than just iterating on and changing the features of your product. Working on how you position your product in the market can have a big influence on your product\u2019s success. That\u2019s why it\u2019s an essential Product Manager task.&nbsp;<br><br>Positioning is all about how you determine your product\u2019s unique value and where you should fit it in the market. The way you position your product will alter how your sales and marketing team talk about your product, changing how it\u2019s perceived by your audience.&nbsp;<br><br>PMs that experiment and make changes to their positioning often make bigger impacts than counterparts who only focus on iterating product features. It can help you attract more users. without having to sink resources into development.&nbsp;<br><br>Product positioning is something you should not ignore, as it can unlock huge benefits. The problem is that many PMs get it wrong and tackle the task from an incorrect angle. We\u2019ve spoken to product positioning expert April Dunford to uncover the secrets to make you better at doing it. Check out our on-demand webinar through the link below \ud83d\udcfd\ufe0f.<\/p>\n\n\n<div class=\"callout callout__inline-cta flex\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">[WEBINAR] The Secret to Product Positioning with April Dunford<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <a href=\"https:\/\/www.prodpad.com\/webinars\/product-positioning-with-april-dunford\/\" class=\"btn btn--cta\" rel=\"noopener\">Watch now<\/a>\n    <\/div>\n<\/div>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-go-to-market-planning\">Go-to-Market planning<\/h3>\n\n\n\n<p>When your product is ready to launch, one key Product Manager task is coming up with a strategy on how you\u2019re going to go about it all. This is a critical task that a Product Manager will have to do from time to time, and you\u2019ll need to do it well to influence the overall success of the product.&nbsp;<br><br>Your GTM strategy will involve multiple different business functions, be it marketing, sales, customer teams, and your executives, so you\u2019ll be key in coordinating your approach with all these stakeholders to ensure that your plan is aligned and effective.&nbsp;<br><br>A go-to-market strategy provides many benefits. It helps to create alignment, establish the market fit of your product, accelerate growth, save costs, and work out any kinks in your process. It\u2019s a very important task and an essential one for the Product Manager.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-product-lifecycle-management-product-manager-tasks\">Product lifecycle management Product Manager tasks<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-idea-triaging\">Idea triaging<\/h3>\n\n\n\n<p>Idea triaging is where you review past ideas and determine which ones are worth exploring. It\u2019s a very important Product Manager task you should be doing regularly. See, ideas are like confetti &#8211; they fly around everywhere and are a bit messy. Triaging your ideas is like sweeping them up into a neat pile, before throwing the tattered ones away.&nbsp;<br><br>Not all ideas are created equal. As a Product Manager, you\u2019ll be bombarded by suggestions everywhere you look. Stakeholders, customers, and even yourself sometimes will come up with a silly idea. You can\u2019t and shouldn\u2019t pursue them all. That\u2019s where idea triaging becomes so valuable. It\u2019s there to help assess and categorize ideas based on their potential impact, feasibility, and alignment.&nbsp;<br><br>Your time as a PM is limited. Idea triaging stops you from wasting time following up on ideas that aren\u2019t worth it, instead allowing you to be strategic in your approach and work on the ideas that have the most potential.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-backlog-refinement\">Backlog refinement<\/h3>\n\n\n\n<p>Your product backlog is a treasure chest of tasks, features, and ideas ready and waiting to be moved to your development backlog. However, it\u2019s important to realize that not everything on that backlog is going to be a gem. To make sure that your backlog items are relevant, actionable, and worthwhile, you\u2019re going to have to refine them every once in a while.&nbsp;<br><br>Backlog refinement, also known as <a href=\"https:\/\/www.prodpad.com\/glossary\/backlog-grooming\/\">backlog grooming<\/a>, is a Product Manager task that you\u2019ll be doing regularly, and helps keep your backlog in tip-top shape so that you can effectively identify items that should change from \u2018could do\u2019 to \u2018will dos\u2019. This is <a href=\"https:\/\/www.prodpad.com\/blog\/product-backlog-vs-sprint-backlog\/\">the difference between a product backlog and a sprint backlog<\/a>.<br><br>By refining your backlog, you ensure that the team is always working on the most valuable tasks and that nothing important slips through the cracks. It keeps everyone aligned and focused on the right priorities, making it easier to plan sprints, allocate resources, and hit your deadlines.<br><br>Backlog refinement can be a task you do in isolation or a collective task when you hold a backlog refinement meeting. If you\u2019re unsure about how to host one, we\u2019ve got a backlog refinement meeting agenda template you can download.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.prodpad.com\/downloads\/backlog-refinement-meeting-ag\/\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"240\" src=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-1024x240.png\" alt=\"Backlog Refinement Meeting Agenda PDF banner\" class=\"wp-image-82341\" srcset=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-1024x240.png 1024w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-300x70.png 300w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-768x180.png 768w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-1536x360.png 1536w, https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/07\/Backlog-Refinement-Meeting-Agenda-Blogs-2048x480.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-roadmap-management\">Product roadmap management<\/h3>\n\n\n\n<p>Managing the roadmap of your product is one of the most fundamental tasks for a Product Manager. You\u2019re the one guiding the development of the product, so it makes sense that you\u2019re the one mapping out each stage on a roadmap.&nbsp;<br><br>Roadmapping is not something that you\u2019ll be doing every day, but it\u2019s a task that you\u2019ll do on and off to ensure that the items in the roadmap continue to align with your goals and can still be achieved.&nbsp;<br><br>Your roadmap is where the vision of your product lives and outlines how you\u2019re going to develop the product. Now, there are multiple different types of product roadmap formats you can use, with some being better than others. We\u2019ve got a whole list of them that you can check out below \u2b07\ufe0f.<\/p>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/product-roadmap-formats\/ \" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">The Complete List of Product Roadmap Formats: Find Your Perfect Match<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<p>With all that said and done, we really think there\u2019s only one choice when it comes to the best roadmap format. That is <a href=\"https:\/\/www.prodpad.com\/blog\/invented-now-next-later-roadmap\/\">Now-Next-Later<\/a>. Developed by ProdPad founders Janna Bastow and Simon Cast, Now-Next-Later is a time horizon-based roadmap, eliminating defined timelines and instead grouping items based on their priority.&nbsp;<br><br>The Now-Next-Later roadmap makes up the basis of the ProdPad tool. Why not find out firsthand what makes Now-Next-Later so much better than the rest?<\/p>\n\n\n<div class=\"callout callout__inline-cta flex\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">Explore Now-Next-Later and other great features in the free ProdPad sandbox.<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <a href=\"https:\/\/www.prodpad.com\/sandbox\" class=\"btn btn--cta\" rel=\"noopener\">Try now<\/a>\n    <\/div>\n<\/div>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-release-planning\">Release Planning<\/h3>\n\n\n\n<p>Release planning helps you build concrete steps on how you\u2019re going to deploy the next version of your product. <a href=\"https:\/\/www.prodpad.com\/blog\/difference-between-roadmaps-and-release-plans\/\">Release planning is not the same as roadmapping<\/a>, as unlike roadmaps, release plans are focused on creating concrete dates and timelines of deliverables. Release plans are more strategic and concrete, allowing you to better coordinate the launch of something that you\u2019ve already built. This task follows roadmapping.<br><br>We\u2019re not going to sugarcoat it, release planning can be a pretty stressful Product Manager task. This is because you\u2019re trying to add structure to something that\u2019s super complex and unpredictable. To help make this task a bit easier, we\u2019ve got a guide on how to master release planning. You can check it out below \ud83d\udc47.<\/p>\n\n\n\n<a href=\"https:\/\/www.prodpad.com\/blog\/release-planning\/\" rel=\"noopener\" class=\"callout callout__inline-cta-secondary flex inline-cta--link\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">Planning for Success \u2013 How to Master Release Planning<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <span class=\"btn btn--arrow\"><\/span>\n    <\/div>\n<\/a>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-jack-of-all-trades\">Jack of all trades<\/h2>\n\n\n\n<p>Is that list looking like a lot to do? Well, that\u2019s because it is. Here&#8217;s the truth: this list is totally impossible for one person to handle. So don&#8217;t. Instead focus on the most important stuff. <\/p>\n\n\n\n<div class=\"row is-style-default\">\n<div class=\"col is-style-emphasis\"><div class=\"col__style\">\n<p><strong>\u201c<\/strong>Product Managers need to practice the 80\/20 rule and only focus on 1-2 things per day, maximum. If you&#8217;re jamming all these things into an 8 hour day, it&#8217;s not going to work. <\/p>\n\n\n\n<p>Delegate, orchestrate, use automation &#8211; whatever you can to take off the load so that you can focus on what needs to be a priority. This isn&#8217;t a list of all you should do, but a menu of what you can do.&#8221;<br><br><strong>&#8211;<\/strong> <a href=\"https:\/\/www.linkedin.com\/in\/gerelee\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Lee Howard<\/strong><\/a><strong>, Featured Speaker &amp; Google Product Consultant<\/strong><\/p>\n<\/div><\/div>\n<\/div>\n\n\n\n<p>Some would argue that PMs are expected to do too much, and many will look at some of the tasks on this list and think, no, someone else should do that.\u00a0<br><br>Well, that response is fine. At the end of the day, the Product Manager tasks you complete will differ from day to day and change depending on what your business requires. Hopefully, you won\u2019t be called on to perform all the tasks listed at the same time. Instead, as you journey through the role, we believe these are the core tasks that you may find yourself being responsible for at some point or another.\u00a0<br><br>Need something to help you become a better Product Manager? ProdPad does just that. Our tool makes good Product Managers great ones. Prodpad has helped many PMs improve how they perform many of the tasks listed above. Try it for yourself to see how ProdPad can benefit you.\u00a0<\/p>\n\n\n<div class=\"callout callout__inline-cta flex\">\n    <div class=\"callout__content\">\n        <p class=\"font-weight-bold\">Try ProdPad for free. No credit card required<\/p>\n    <\/div>\n    <div class=\"callout__cta btn-group\">\n        <a href=\"https:\/\/app.prodpad.com\/register\" class=\"btn btn--cta\" rel=\"noopener\">Start free trial<\/a>\n    <\/div>\n<\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-\"><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>What does a Product Manager actually do? This isn\u2019t a trick question, we promise. Think about it for a second. You may know the Product Manager tasks you do, but&hellip;<\/p>\n","protected":false},"author":46,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5231,9],"tags":[5294],"pp_uni_tag":[],"class_list":["post-82741","post","type-post","status-publish","format-standard","hentry","category-latest-blogs","category-product-management-best-practice","tag-product-manager-tasks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Complete List of Product Manager Tasks | ProdPad<\/title>\n<meta name=\"description\" content=\"Explore the Product Manager tasks you may do in the role, to help you better under what&#039;s expected as a PM.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.prodpad.com\/blog\/product-manager-tasks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Complete List of Product Manager Tasks | ProdPad\" \/>\n<meta property=\"og:description\" content=\"Familiarize yourself with the core Product Manager tasks you&#039;ll be dong in the role, to help you better under what&#039;s expected as a PM.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.prodpad.com\/blog\/product-manager-tasks\/\" \/>\n<meta property=\"og:site_name\" content=\"ProdPad\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ProdPad\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T13:57:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-13T16:24:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/The-Complete-List-of-Product-Manager-Tasks-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1020\" \/>\n\t<meta property=\"og:image:height\" content=\"550\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Domenic Edwards\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Getting your product management team structure right is such a *chef&#039;s kiss* moment. Here&#039;s everything you need to know to do it yourself.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.prodpad.com\/wp-content\/uploads\/2023\/03\/How-to-Nail-Your-Product-Management-Team-Structure.png\" \/>\n<meta name=\"twitter:creator\" content=\"@prodpad\" \/>\n<meta name=\"twitter:site\" content=\"@prodpad\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Domenic Edwards\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"21 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The Complete List of Product Manager Tasks | ProdPad","description":"Explore the Product Manager tasks you may do in the role, to help you better under what's expected as a PM.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.prodpad.com\/blog\/product-manager-tasks\/","og_locale":"en_US","og_type":"article","og_title":"The Complete List of Product Manager Tasks | ProdPad","og_description":"Familiarize yourself with the core Product Manager tasks you'll be dong in the role, to help you better under what's expected as a PM.","og_url":"https:\/\/www.prodpad.com\/blog\/product-manager-tasks\/","og_site_name":"ProdPad","article_publisher":"https:\/\/www.facebook.com\/ProdPad\/","article_published_time":"2024-08-29T13:57:53+00:00","article_modified_time":"2025-01-13T16:24:44+00:00","og_image":[{"width":1020,"height":550,"url":"https:\/\/www.prodpad.com\/wp-content\/uploads\/2024\/08\/The-Complete-List-of-Product-Manager-Tasks-1.png","type":"image\/png"}],"author":"Domenic Edwards","twitter_card":"summary_large_image","twitter_description":"Getting your product management team structure right is such a *chef's kiss* moment. 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