Product Management KPIs List

Product Management Objectives or KPIs track and measure the product manager’s and product management team’s core job efficiencies. The product management role plays an integral role in the company’s overall management of existing and new product lines.

Product Management KPIs Reporting Dashboard

Product Management Objectives

Product management objectives are designed to track and measure the general job efficiencies expected of every product management team member. Elements such as understanding customer needs and desires in relation to the development and upgrade of new and existing product lines form an integral part of the product management role.

  • Determine customer needs and desires by specifying the research needed to obtain market information – The need to understand customer needs and desires is integral to the product management team. Otherwise, it is challenging to develop new products and modify existing products. This KPI measures the product management team’s ability to determine customer needs and desires by specifying the research needed to obtain market information.
  • Prepares return-on-investment analyses and establishing time schedules with engineering and manufacturing for the new product lines – As part of the new product development lifecycle, each product management team member must prepare return-on-investment analyses and establishing time schedules with engineering and manufacturing for the new product lines. This KPI tracks and measures the product management team member’s ability to craft these analysis documents.

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  • Introduces and markets new products by developing time-integrated plans with sales, advertising, and production – This KPI tracks and measures the product management team member’s ability to introduce and market new products by developing time-integrated plans with sales, advertising, and production. The higher this metric, the more successful the new product introduction and marketing processes.
  • Determines product pricing by utilizing market research data, reviewing production and sales costs, anticipating volume, costing special and customized orders – This KPI tracks and measures the extent to which the product management team member can determine product pricing by utilizing market research data, reviewing production and sales costs, and anticipating volume, costing special and customized orders. The higher this metric, the more successful the product pricing strategy.
  • Completes operational requirements by scheduling and assigning employees and following up on work results – An essential part of the product management team’s role is to complete operational requirements by scheduling and assigning employees and following up on work results. This KPI tracks and measures the product management team member’s ability to fulfill the necessary operational requirements.

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Product Management Team Objectives

Product management team objectives or KPIs are designed to measure product management team efficiencies, including the team’s ability to oversee and manage the relationship between new and current products, the business, and the customer. The team is responsible for assessing the competition’s product lines to improve new and existing products.

  • Recommends the nature and scope of present and future product lines by reviewing product specifications and requirements – This KPI tracks and measures the extent to which the product management team recommends the nature and scope of present and future product lines by reviewing product specifications and requirements. The higher this metric, the more successful current, and new product lines will be.
  • Recommends changes to new and existing product lines by appraising new product ideas and/or product or packaging changes – This KPI tracks and measures the extent to which the product management team can recommend changes to new and existing product lines by appraising new product ideas and product or packaging changes. The higher this metric, the higher the chance that the new and current product lines will be successful.

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  • Assesses market competition by comparing the company’s product to its competitors’ products – The ability to cogently assess the brand’s market competition by comparing its product to its competitors’ products will determine the sales team’s current and future successes. This KPI tracks and measures the extent to which the product management team can competently assess the competition’s products.
  • Provides source data for product line communications by defining product marketing communication objectives – This KPI tracks and measures the extent to which the product management team is able to provide source data to the relevant parties for product line communications by defining product marketing communication objectives. The higher this metric, the greater the team’s ability to pass on the requisite source data.
  • Increases product market share by working with the sales director to develop product sales strategies – This KPI tracks and measures the product management team’s ability to increase the company’s product market share by working with the sales director to develop product sales strategies. The higher this metric, the more successful the developed product sales strategies, and the higher the sales numbers.
  • Assess product market data by calling on customers with field salespeople and evaluating sales call results – This KPI tracks and measures the extent to which the product management team is able to assess product market data by calling on customers with field salespeople and evaluating these sales call results to create meaningful information that will drive strategic business decision-making.
  • Provides management information by preparing short-term and long-term product sales forecasts, special reports, and analyses – An integral part of the product management team’s responsibility is to provide management information by preparing short-term and long-term product sales forecasts, special reports, and analyses. This KPI tracks and measures the product management team’s ability to prepare the required management information.
  • Facilitates inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules – This KPI tracks and measures the extent to which the product management team facilitates inventory turnover and product availability by reviewing and adjusting inventory levels and production schedules. The higher this metric, the more streamlined the production schedules, and the greater the company’s ROI because of top-quality inventory management.
  • Brings new products to market by analyzing proposed product requirements and product development programs – The product management team’s core role is to bring new products to market by analyzing proposed product requirements and product development programs. This KPI tracks and measures the extent to which the product management team facilitates the new product development process.

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Product Management Objectives

Product manager objectives or KPIs are designed to track and measure the product manager’s key job efficiencies, including overseeing product management team members, engaging with customers to grow existing products, creating new product lines, and prioritizing personal and professional development to improve leadership skills.

  • Maintains product management staff by recruiting, selecting, orienting, and training employees – Well-trained, engaged, efficient, and productive product management team employees are integral to managing new and existing product lines successfully. This KPI tracks and measures the product manager’s ability to maintains product management staff by recruiting, selecting, orienting, and training employees.
  • Maintains product management staff job results by counseling and disciplining employees, planning, monitoring, and appraising job results – This KPI tracks and measures the extent to which the product manager maintains product management staff job results by counseling and disciplining employees, planning, monitoring, and appraising job results. The higher this metric, the more successful the product management team will be managing new and current product lines.

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  • Maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies – This KPI tracks and measures the extent to which the product manager maintains professional and technical knowledge by attending educational workshops; reviewing professional publications; establishing personal networks; participating in professional societies. The higher this metric, the more successful the product manager when overseeing the product management team.
  • Contributes to team effort by accomplishing related results as needed – This KPI tracks and measures the extent to which the product manager contributes to the team effort by accomplishing related results as needed. The higher this KPI, the greater the product manager’s ability to contribute to the team’s primary goal of managing new and current product lines.
  • Developing product pricing and positioning strategies – Developing product pricing and positioning strategies is an integral part of the product manager’s role. This KPI tracks and measures the product manager’s ability to create successful product pricing and positioning strategies. The higher this metric, the greater the product manager’s accomplishments.
  • Creating buy-in for the product vision both internally and with key external partners – It is vital for the product manager to drive the process that creates the buy-in for the product vision both internally and with key external partners. This KPI tracks and measures the product manager’s ability to create the buy-in for the existing and new product lines’ vision.
  • Translating product strategy into detailed requirements and prototypes – Translating a product strategy into detailed requirements and prototypes is a cornerstone of the product manager’s role. This KPI tracks and measures the product manager’s ability to translate a product strategy into detailed requirements and the manufacture of prototypes for new product lines.
  • Scope and prioritize activities based on business and customer impact – This KPI tracks and measures the product manager’s ability to scope and prioritize activities based on business and customer impact. The higher this metric, the greater the extent to which the product manager can interpret current business and customer impact to prioritize product line development and marketing activities.
  • Drive product launches, including working with public relations team, executives, and other product management team members – Successful product launches are integral to the new product’s successes. This KPI tracks and measures the product manager’s ability to drive product launches by working with the public relations team, executives, and other product management team members.

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These KPIs provide the basis to measure the product management team’s and manager’s job efficiencies over time. They form necessary reference points designed to track and monitor the product management team’s monthly performance, driven by the product manager, ensuring consistency and reliability in the product management department, driving the development and maintenance of new and existing product lines.

The product management KPIs are divided into three result areas: product management KPIs, product management team KPIs, and product manager KPIs. And they are all designed to track and measure the three critical areas of the company’s product management division and strategies, facilitating the development of new product lines and driving the sustainability of existing product lines.

The product management team’s successes form a fundamental role in the company’s ability to grow and increase its top and bottom lines. Without high quality and relevant product lines to sell, the company cannot exist. Therefore, the onus is on the product manager and product management team to drive the product development and upgrade process.

Benefits of AssessTEAM cloud-based employee evaluation form for your product management team.

  • Use on all smart devices
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  • Include eSignatures
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