Software Product Engineering: Product Portfolio Management Activities

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Questions and Answers

What is the primary responsibility of a product manager in the context of product portfolio management?

Analysing whether available resources will be sufficient for projects in the pipeline
Undertaking proper management of all activities involved in new product development projects
Identification and continuous monitoring of product value
Continuous selection and improvement of opportunities for new product development (correct)

Which of the following activities involves analysing the risks and uncertainties associated with all opportunities?

Pipeline management
Product portfolio maximization (correct)
Project management
Product value identification

Which of the following is a common stakeholder interaction in product management?

Continuous monitoring of activities and resourceful planning
Scenario analysis like what-if analysis
Meeting targets and schedules
Deciding the commencement of projects with clients (correct)

What is the main deliverable of a product manager in the context of product portfolio management?

Identification and continuous monitoring of product value (C) Signup and view all the answers

What does triage refer to in the context of product portfolio management?

Identification and prioritization of projects based on their importance and urgency (D) Signup and view all the answers

What is the primary purpose of implementing ROI models for new products in firms?

To justify considering the product into the firm's product portfolio (A) Signup and view all the answers

What is the significance of product portfolio management in relation to 'Go Errors'?

Identifying potential limitations and weaknesses to avoid 'Go Errors' (A) Signup and view all the answers

How does product portfolio management contribute to avoiding 'Drop Errors'?

Identifying potential and strengths of the product (B) Signup and view all the answers

What is one of the benefits of innovation ROI maximization mentioned in the text?

Maximizing the return on investments for innovation activities (D) Signup and view all the answers

How does centralized planning benefit firms in product management?

Helping in centralized platform for product planning (B) Signup and view all the answers

What is the primary goal of Product Portfolio Management?

To maximize the value of current ongoing projects (D) Signup and view all the answers

How does Portfolio Management for new products differ from traditional project management?

It involves selecting and prioritizing new projects (A) Signup and view all the answers

In the context of Software Product Management, what happens in the Triage process?

Prioritization and resource allocation of projects (C) Signup and view all the answers

What is a core responsibility of a Product Manager in a software development company?

Allocating resources to achieve innovation goals (B) Signup and view all the answers

How does the Product Manager contribute to maximizing the value of new product development ideas?

By effectively managing Product Portfolio Management (D) Signup and view all the answers

What is the primary responsibility of a product manager in the engineering lifecycle?

Ensuring user needs are translated into terms that the engineering team understands and implements (A) Signup and view all the answers

What is the purpose of Product Portfolio Management in the context of new product development?

Effectively managing new product development ideas and maximizing the value of current ongoing product development projects (A) Signup and view all the answers

What is the role of a product manager in managing the product release and schedule?

Ensuring the product release and schedule is met as per market demands (C) Signup and view all the answers

What is the definition of a pipeline in the context of product management?

A project that is about to start in the recent future and is undergoing top management level considerations (A) Signup and view all the answers

What is the primary responsibility of a product manager in triage?

Ensuring only a few product teams require only title, description, severity, module, revision number to be entered for bug tracking (B) Signup and view all the answers

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