Product Management (minor)

Product management is one of the most crucial competencies for startups and scale-ups. Combining customer needs and realities of production during fast growth call for a strong vision and ability to coordinate the requirements of customer needs, product  development, and business development. While designers, developers, and business functions are specifically working on each of these fields individually, the ability link and balance all these aspects is what makes it or breaks it for growing companies.

Product management can be used to orchestrate the development of businesses, especially in new ventures and during rapid growth. Creating and maintaining a shared vision for the product increases the speed, efficiency, and outcomes in all aspects related to product development and company growth. This importance of product management has made capable product managers, heads of product, and chief product officers a sought-after talent, to the extent that the lack of competent product managers is seen as a limiting factor to the growth and success in startup ecosystem. 

The minor is targeted to students seeking careers in product management, both to gain entry-level positions as well as to build foundation for later, more senior roles. The minor builds on the concepts of user-centric product management. It has a bias towards software and digital products, where this type of product management has become especially relevant.  . In software-driven companies, an engineering team is simultaneously both the unit of production and the unit of development. This has heightened the importance of centering the organizations around product management and integrating innovations into operations.

The user-centric product management extends well beyond software and digital products. The principles of user understanding, iterative methods, and adaptive and empowering organizations can be used for better coordination of product decisions in any type of company and organization.
 

After completing the minor, the student can

• Select and apply appropriate product management frameworks for defining and prioritising users needs, development options and business outcomes
• Analyse and contrast different product management approaches
• Distinguish and analyse organizational choices for enhancing the use and availability of user data
• Distinguish roles specific skills and organizational capabilities required for effective product management
   

The minor consists of two integrative courses on product management, and a choice of three courses, each from the three key domains of product management: users, development and business. 

The first of the required courses introduces the key principles of user-centric product management with hands-on assignment, and the second extends these principles to organizational- and leadership-level and beyond digital products. 

In terms of other courses, the minor can be adapted to fit the context and industry of the student. If there are better and more specific courses to be found in any of the degree categories, contact the responsible professor. Suggestions are much appreciated.
 

Code: SCI3162

Extent: 20–25 ECTS

Language of instruction: English

Level: Masters

Theme: Global business dynamics

Curriculum: 2022–2024

Target group: All Aalto students

Teacher in charge: Mikko Jääskeläinen

Administrative contact: Tarja Timonen

Organising department: Department of Industrial Engineering and Management

Prerequisites: Bachelor level minor in Industrial Engineering and Management or equivalent knowledge. In addition, individual courses may have their own prerequisites, students are requested to check these before signing up.

Quotas and restrictions: No quotas for the minor. Number of participants at courses may be limited.

 

Content and structure of the minor

Product management is one of the most crucial competencies for startups and scale-ups. Combining customer needs and realities of production during fast growth call for a strong vision and ability to coordinate the requirements of customer needs, software development, and business development. While designers, developers, and business functions are specifically working on each of these fields individually, the ability link and balance all these aspects is what makes it or breaks it for growing companies.

Product management can be used to orchestrate the development of businesses, especially in new ventures and during rapid growth. Creating and maintaining a shared vision for the product increases the speed, efficiency, and outcomes in all aspects related to product development and company growth. This importance of product management has made capable product managers, heads of product, and chief product officers a sought-after talent, to the extent that the lack of competent product managers is seen as a limiting factor to the growth and success in startup ecosystem. 

The minor is targeted to students seeking careers in product management. It has a bias towards software since the specific type of product management that the minor addresses has become especially relevant in IT-sector. In software-driven companies, an engineering team is simultaneously both the unit of production and the unit of development. This has heightened the importance of centering the organizations around product management and integrating innovations into operations.

The minor consists of one required course and a choice of additional courses from the three areas related to the product management: users, business and development. As a minor, this is barely an MVP, more of an “Hello World”-level set up. Do seek and find additional courses that are relevant to your field of study and fits the focus of the minor. Suggestions are much appreciated.