critical thinking product manager

On the other hand, PMs should effectively listen to the team's ideas and concerns and empathize.

“The biggest difference maker in our process at Alitu has been developing skills in customer interviews and UX testing. They‘re technically different processes, but they’ve been inseparably linked for us. Over the past 12 months, this has helped us drop our churn rate by more than 20%,” says Colin Gray, founder of The Podcast Host and Alitu .

Pro tip: Practicing continuously can help you develop this skill. Take part in meetings, conferences, and calls. Share your views, make presentations, and, most importantly, ask for feedback on your presentation. Keep practicing until you are confident enough to call yourself a communication wizard.

7. An Understanding of UX

Product managers work closely with UX designers to create products or features that resonate with users throughout the product life cycle. Technically, PMs are not required to be UX experts, but having basic knowledge is helpful.

“Having an understanding of UX principles enables PMs to consider both product usability and design while they work through feature requests or bug fixes,” says Travis Lindemoen, managing director of nexus IT group . “It also forces you to think through all possible user scenarios, which consequently avoids any unexpected negative feedback from users after the launch date due to UX issues.”

By understanding UX best practices and processes, PMs can adopt a user-centric approach, create products that meet customer needs more effectively, and foster collaboration with the product design team. Furthermore, they will learn the complexity of design-related tasks to plan the backlog effectively.

Pro tip: Get started with learning the UX basics on Coursera or Udemy. Consider “Introduction to User Experience Design” by Coursera. Enroll for free.

14. Agile and Scrum Methodologies

Agile and Scrum are all about embracing change, adapting to customer feedback and market demands, and delivering value quickly. They preach the idea of working together as a tight-knit team, breaking down big tasks into smaller, more manageable ones, and iterating on your product as you go.

It’s safe to say that Agile and Scrum penetrated all spheres of the tech industry and went beyond. So, it’s a must to learn these methodologies for all product managers.

Pro tip: On Coursera, you can find courses and certifications for Agile and Scrum from Google, Microsoft, and other high-end companies.

15. Design Thinking

Design thinking is a non-linear, human-centered, problem-solving approach with a focus on empathy, innovation, and iteration. It’s essential for product managers because it helps them create products that genuinely address user needs and drive business growth.

For example, when PMs think of developing a new feature, they would first seek to understand the users' pain points. Then they would ideate, prototype, and test potential solutions. Lastly, PMs would iterate the solution based on user feedback.

Pro tip: Design thinking is a combination of skills you’ve got to master — emotional intelligence, user research, problem framing, journey mapping, and brainstorming. You can hone them in parallel, but it’s better to enroll in a design thinking course and practice these skills on a project under supervision. Consider taking part in Harvard Business School’s Design Thinking and Innovation course .

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Product Management

Top 10 product management skills every product manager should own.

April 6, 2023

Product Managers (PMs) need to master a lot of key areas to build products customers love. People who want to transition into a product role are drowning in a sea of articles trying to answer really basic questions like:

• Is product management for you?
• How can you say product management is for you?
• If it is for you, how can you transition from your current role to that of a product manager?

Finding the answer to these questions can be difficult with so much conflicting information out there. How do you know which piece of information will help you get answers to these questions? 

After spending some time online, you will discover that product managers need multiple skills to succeed in their jobs. It’s a little overwhelming and intimidating.

How do you even know if you have these skills and can be a product manager? Follow along as we break down 10 important product management skills you need to succeed in your role!

What Are the Most Important Product Management Skills?

1. product sense, 2. technical understanding, 3. interpersonal skills, 4. problem-solving, 5. data-driven and strategic thinking, 6. result oriented, 7. user-centric mindset, 8. delegation, 9. critical thinking, 10. continuous learning, how do you know product management is for you, how to develop product management skills.

You may be thinking, what skills do you need to start a career in product management? Or what are hiring managers really looking for? 🤔

To answer this question, our team from Upraised analyzed more than 200 product manager job descriptions (JDs) and identified 300 of the most common skills. We then clustered them into ten skills that are really the core of an entry product manager role.

We also consulted experts in the product management field, which helped us gather the key skills employers want when they shortlist candidates early in their careers.

The most important six skills that can help you transition into a product manager role are: 

• Product sense
• Communication skill
• Technical understanding
• Problem-solving
• Data-driven and strategic thinking 
• Result oriented 

Here’s how the proficiency in these ten PM skills differs between top product managers from average product managers:

Here’s a product management glossary for you to know everything about product management before you read further.

Top 10 Product Management Skills

Hard skills for product managers.

Hard skills are acquired via formal education, training programs, or on the job. These are the hard skill needed to be a successful product manager:

Product sense is a product manager’s ability to understand the problem and identify all possible solutions and know which solutions to pick given the constraints like time, resources, budget, and user segment.

This is especially critical for technical expertise product managers. The deeper the domain knowledge, the better you can understand the universe of solution space for a given problem statement . It’s a skill that one can pick up and hone with time.

Check out these no-code tools for product managers !

As a product manager, you don’t need to learn to code, but you do need a basic knowledge of how products are built. It’s why you also should understand how to take care of your projects as they move through the product life cycle.

Additionally, know how to conduct market research to learn the market or industry trends. Conducting market research will help you write product requirements, define edge cases, and effectively work with the engineering team.

This lets you understand which requests are feasible and the amount of effort needed to build a feature for better prioritization. As a product manager, it’s critical to familiarize yourself with several product management tools like ClickUp .

Learning specific processes within these tools allow you to define product requirements and understand their shortcomings. 

Soft skills for product managers

Soft skills are an individual’s ability to interact and relate with other people. Successful product managers possess the following core product management skills:

A product manager needs to get stakeholder buy-in for plans and projects. Having strong communication skills lets you influence and better communicate with others—including the sales team.

It also helps you manage and streamline product documentation. Communicating critical information allows all stakeholders to know the product development process is on track .

Problem-solving is the ability to break a complex problem into chunks and help identify the root cause.

As a product manager, you need to identify the right problem to solve before jumping into the solution. More often than not, you’ll deal with confusing and complex issues.

That’s why problem-solving skills are sought after for this type of role. Product managers are often in charge of transforming the problem into a clear problem statement that the rest of the business can understand.

Data is the new oil that fuels a customer-centric approach in every organization. Given how everything revolves around data, this skill allows you to regularly be open to new learnings.

This lets you know what’s working and what’s not. It is one of the important skills for product managers because data helps you answer questions like:

• Who is your customer?
• Why do they use your product?
• What do they think about it?

Being data-driven makes for a better trade-off between urgent and non-urgent tasks. This skill allows you to fine-tune your strategic thinking and prioritization skills.

And in the meantime, you become more confident with actual informed decisions with your data.

At the end of the day, it’s the result that matters.

Being result-oriented helps prioritize tasks that add the most value for the amount of time invested in completing them. You need to make the best use of available resources and complete tasks within the stipulated time, indicating you are result oriented.

Bonus: Learn how AI tools can help product managers !

4 Bonus Product Management Skills

The ability to empathize with users and have a user-centric mindset is critical for product managers to create products that deliver value and meet user needs, resulting in higher user satisfaction and adoption rates.

Effective delegation leads to building trust within the team and fosters teamwork, product managers can focus on strategic tasks and lead the overall product development process, resulting in more efficient and effective product development.

Critical thinking is a vital part of product management. Product managers use critical thinking to analyze data, evaluate options, make decisions and solve problems.

They must be able to identify potential risks and opportunities, generate creative solutions to complex challenges and think critically in order to develop the best product strategies . Product managers also need to be able to take calculated risks without sacrificing the quality of the product or endangering users’ safety.

Continuous learning helps product managers stay up-to-date with new technologies, market trends, and user behavior, enabling them to make data-driven decisions, create innovative products and deliver real value, and establish themselves as a strong product leader.

Start by learning a new product management tool like ClickUp!

How do these skills help increase your chances of getting hired?

Product management is a fascinating career path . To be a successful product manager, you need to develop skills to help you lead cross-functional collaborations between engineers , marketing and sales teams , firm executives, and users.

Now let’s understand how these skills contribute to making you a better product manager. The two types of skills that product managers need to excel in this field:

• Hard skills (i.e., technical skills)
• Soft skills (i.e., analytical skills, interpersonal skills)

Both hard and soft skills are important when looking for a job. As a potential job seeker, know there will be certain soft skills and hard skills needed that you acquired in past experience.

These skills are called transferable skills . They indicate your ability to do the job, even if your profile does not match the job description 100%. Such skills make you an invaluable asset to any company. 

The first step is to understand your proficiency level in each of these skills.

Start out by using the KYS (Know Your Self) test to see if you could become a product manager. This competency test reveals your behavioral and attitude traits based on a set of 49 questions. It will help you learn more about your strengths and blind spots across these ten core product manager skills!

If you score above 50 without any product background—that’s great! This means you have some of the skills in your current role to succeed as a product manager. But for those who score below 50, no worries!

That score simply means you need to work on your skills and the test will tell you about your blind spots to help. So how can you develop your skills to become a successful and competent product manager?

Whether you are someone who hails from a non-technical or technical background, there’s a course that can help you develop these skills. Career Accelerator Program by Upraised is curated just for aspiring product managers like you who dream of working in product-first companies.  

This is a 16-week curriculum that gives you practical training and prepares you for the role of a product manager. Here’s how Upraised course preps you for a product manager role:

• Organized learning journey
• Case studies and assignments
• Interview readiness

Once you’ve learned more about product management, use a project management tool like ClickUp to help you map your product vision, build product roadmaps , align team resources , and so much more.

ClickUp offers hundreds of features and a fully customizable platform to help you manage your work more efficiently and become a seasoned product manager. You can also take advantage of the learning tools and resources they offer, including product management blogs , a ClickUp guide for product managers , and webinars to help you manage your product lifecycle .

And if you’d like to get a solid framework to start with, ClickUp has product management templates ready for you to use.

So whether you’re looking into transitioning into a product management role internally, or starting a junior role for you, taking the time to level your skills and using the right tools like ClickUp and Upraised can help give you the edge you need to become a successful and competitive product manager.

Best of luck!

Guest Writer:

Janvee Menghrajani is a Content and SEO Specialist at Upraised.

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How to Think Like a Product Manager: Unlock Your Potential

Product managers are the masterminds behind successful products, driving innovation and growth within companies. To become an effective product manager, you need to think like one. But what exactly does that mean?

Thinking like a product manager means having a strategic mindset, continuously looking for opportunities to improve products, and making data-driven decisions. It requires a deep understanding of customers, markets, and technology, as well as excellent communication and collaboration skills.

In this article, we’ll explore the essential characteristics and skills needed to think like a product manager and unlock your potential in product development. We’ll cover how to approach product development strategically, make informed decisions, solve complex problems, and collaborate effectively with cross-functional teams. We’ll also provide tips and strategies for cultivating the product manager mindset and staying ahead of the curve in a constantly evolving industry.

Key Takeaways:

• Thinking like a product manager requires a strategic mindset and continuous improvement.
• Product managers must have a deep understanding of customers, markets, and technology.
• Effective communication and collaboration skills are essential for success.

Understanding the Product Manager Mindset

The key to success as a product manager lies in developing the right mindset. Product managers are responsible for driving product strategy and ensuring that products meet customer needs, business goals, and technical requirements. To do this, they must adopt a unique set of skills, characteristics, and thought processes that enable them to navigate complex product landscapes.

The Product Manager Mindset:

Successful product managers exhibit several key characteristics:

• Visionary: Product managers are able to see the big picture and imagine how their product can meet customer needs in new and innovative ways.
• Creative: They are creative problem solvers who can identify customer pain points and develop solutions that fill gaps in the market.
• Collaborative: They are skilled communicators who can work effectively with cross-functional teams, including engineers, designers, marketers, and executives.
• Analytical: They are comfortable with data analysis and market research, allowing them to make informed decisions about product features and go-to-market strategies.
• Agile: They are able to pivot quickly when market conditions change or when new data emerges, and are open to experimentation and iteration.
• Critical Thinkers: Product managers are able to evaluate competing priorities, weigh tradeoffs and make decisions that balance the needs of customers, the business, and the product itself.

In addition to these traits, successful product managers employ a unique thought process that allows them to prioritize features, validate assumptions, and make informed decisions about their products.

Strategically Approaching Product Development

Product managers need to have a strategic mindset to develop successful products. A product strategy is a roadmap that outlines the long-term vision and goals of the product. It includes market analysis, competitive analysis, user research, and a prioritized list of features.

Product managers use the following strategic thinking process:

• Identify market opportunities: Analyze the market to identify gaps that your product can fill. Consider the market size, growth, trends, and potential competitors.
• Set goals: Define clear and measurable goals that align with the overall company strategy. Make sure your goals are specific, measurable, achievable, relevant, and time-bound (SMART).
• Create a product roadmap: A product roadmap is a visual representation of your product strategy. It outlines the major milestones, features, and enhancements that will be delivered over time. A roadmap should be flexible and adaptable to changes as needed.

Product managers need to be familiar with different product development methodologies. Agile, waterfall, and hybrid are the most common methodologies used in product development. Agile is the most popular methodology used in software development, while the waterfall method is more traditional and linear.

The hybrid methodology combines both Agile and waterfall methods, offering flexibility, efficiency, and accountability. Product managers need to choose the methodology that best suits their product development process and team.

Strategic thinking also involves prioritizing features and trade-offs. Product managers need to make tough decisions on which features to prioritize, which to delay, and which to cancel. They also need to balance the needs of different stakeholders, including customers, sales, marketing, and engineering.

Lastly, product managers need to have effective communication skills to share their product vision and strategy with the cross-functional team and stakeholders. They need to be open to feedback, listen to different perspectives, and collaborate with team members to achieve the product goals.

Developing Decision-Making Skills

As a product manager, having strong decision-making skills is critical to success. It starts with gathering and analyzing data to inform your decisions, but it also involves considering user feedback and market research.

Data analysis: Use data to identify trends and patterns that can inform your decisions. This includes analyzing metrics such as user engagement, conversion rates, and revenue. Data can also help you assess the impact of different features or changes to your product.

User feedback: Soliciting feedback from users through surveys, interviews, and usability testing can help you understand their needs and pain points. This can inform decisions about what features to prioritize or what changes to make to the user experience.

Market research: Understanding your competitors and market trends can help inform decisions about the direction of your product. This includes conducting research on market size, growth potential, and customer behavior.

While gathering information is important, it’s also important to know when to make a decision and move forward. This requires weighing trade-offs and considering the potential impact of your decisions.

Trade-offs: Product managers often face difficult trade-offs when making decisions. For example, prioritizing one feature over another, choosing between short-term and long-term goals, or deciding whether to invest in a new feature or optimize an existing one. It’s important to consider the potential impact of each decision and weigh the trade-offs carefully.

Ultimately, the decision-making process is not always straightforward and requires a combination of analytical and intuitive thinking. It’s important for product managers to be open to feedback and be willing to adjust their approach based on the outcomes of their decisions.

Problem-Solving Techniques for Product Managers

Product managers are responsible for identifying and solving complex problems to create successful products. They utilize various problem-solving techniques and frameworks to tackle challenges effectively. Here are some of the most common problem-solving techniques used by product managers:

Design Thinking

Design thinking is a human-centered and iterative problem-solving methodology that involves empathizing with users, defining the problem, ideating solutions, prototyping, and testing. Product managers use this approach to gain a deep understanding of user needs and pain points and design products that meet their requirements. Design thinking provides a structured approach to problem-solving that can help product managers generate innovative ideas and validate assumptions through rapid experimentation.

Lean Startup

Lean Startup is a methodology that encourages fast, iterative product development using a build-measure-learn loop. Product managers use this approach to create a minimum viable product (MVP), test it with users, and gather feedback to refine the product. Lean Startup enables product managers to avoid wasting time and resources on building products that don’t meet user needs. It allows them to quickly iterate on ideas and get to market faster.

Root Cause Analysis

Root cause analysis is a problem-solving technique that involves identifying the underlying cause of a problem. Product managers use this approach to diagnose the root cause of issues and develop effective solutions. Root cause analysis involves asking “why” questions to trace the problem back to its source. It helps product managers avoid band-aid solutions and address the fundamental issue to prevent it from recurring.

SWOT Analysis

SWOT analysis is a framework used to evaluate the strengths, weaknesses, opportunities, and threats of a product or company. Product managers use this approach to assess their product’s competitive position and identify areas for improvement. SWOT analysis provides a structured way to evaluate internal and external factors that affect a product’s success. It helps product managers make informed decisions and prioritize actions based on their potential impact.

By employing these problem-solving techniques, product managers can overcome challenges and develop successful products. By analyzing the situation, prioritizing objectives, and determining the best course of action, product managers can create products that meet user needs and drive business results.

Training the Product Manager Mindset

Developing a product manager mindset is essential to succeed in product development. Here are some tips and strategies for cultivating the necessary skills:

• Read about product management: Reading books and articles about product management can help solidify your understanding of the role and the skills required to excel in it.
• Attend webinars and conferences: Attending webinars and conferences can provide valuable insights into the latest trends and best practices in product management. It can also offer networking opportunities with other professionals in the field.
• Practice critical thinking: Practicing critical thinking can help you identify potential problems, analyze data, and make informed decisions. Try solving puzzles, playing strategy games, or taking online courses about logical reasoning to improve your critical thinking skills.
• Collaborate with cross-functional teams: Collaborating with cross-functional teams can provide exposure to other areas of product development, such as engineering, design, and marketing. This can help you develop a broader understanding of the product development process and improve your communication skills.
• Use product management tools: Using product management tools such as Jira, Trello, and Asana can help you organize your work, track progress, and collaborate with others. Familiarizing yourself with these tools and incorporating them into your workflow can improve your efficiency and productivity.
• Take on leadership roles: Taking on leadership roles, such as managing a project or leading a team, can help you develop your leadership skills and gain hands-on experience in product management.
• Learn from experience: Learning from experience is crucial in developing a product manager mindset. Take the time to reflect on your successes and failures, and use them as learning opportunities to improve your skills.

Cultivating Critical Thinking Skills

As a product manager, critical thinking is a crucial skill to possess. The ability to analyze information, evaluate options, and make informed decisions is essential to creating successful products. Here are some strategies for cultivating critical thinking skills:

• Ask questions: Encourage a culture of inquiry among your team members. Asking questions helps to uncover assumptions and biases that can impact product development.
• Challenge assumptions: Don’t accept assumptions at face value. Instead, ask for evidence to support them and evaluate their validity.
• Consider multiple perspectives: Seek out diverse viewpoints, including those that may challenge your own. This can lead to better decision-making and innovative solutions.
• Weigh evidence and alternatives: Analyze data and consider multiple alternative solutions before making a decision. This helps to minimize bias and increase the likelihood of success.
• Make reasoned judgments: Use logic and evidence to make informed decisions. Avoid making decisions based on personal preferences or unsubstantiated beliefs.

Critical thinking is a skill that can be developed through practice and experience. By adopting a critical thinking mindset, product managers can make better decisions and create products that meet the needs of their customers, stakeholders, and business.

Mastering Analytical Skills

Product managers must possess excellent analytical skills to evaluate market opportunities and make informed decisions. Analytical thinking involves breaking down information, identifying patterns, and drawing conclusions.

Here are some key skills that product managers need to master:

Product managers must use data-driven insights to make informed decisions about product development. They must be able to interpret data, draw conclusions, and communicate insights effectively to cross-functional teams.

Next, we’ll explore the product manager thought process and how it supports effective decision-making and product development.

The Product Manager Thought Process

Product managers are responsible for identifying market opportunities, setting goals, and creating product roadmaps. To accomplish these tasks, they utilize a specific thought process that involves ideation, prioritization, and validation. In this section, we will explore the key steps of the product manager’s thought process and how it drives product development.

Step 1: Ideation

The ideation phase is where product managers generate ideas and brainstorm potential solutions to a problem or opportunity. This often involves collaborating with cross-functional teams, gathering user feedback, and analyzing market trends. During this phase, product managers aim to identify innovative and scalable solutions that align with the company’s vision and mission.

Step 2: Prioritization

Once ideas have been generated, product managers must prioritize which ones to pursue based on a variety of factors such as market demand, resources, and company goals. This involves evaluating the potential impact of each idea and determining which ones align best with the overall product strategy and company objectives.

Step 3: Validation

After prioritizing ideas, product managers must validate them through research, experimentation, and testing. This often involves creating MVPs (Minimum Viable Products) to test ideas with a small group of users and gather feedback. Based on the results, product managers make informed decisions about which ideas to pursue further and which ones to iterate or pivot.

The product manager’s thought process emphasizes the importance of data-driven decision-making and an iterative approach to product development. By following these steps, product managers can identify and develop successful products that meet the needs of both users and the business .

Collaborating with Cross-functional Teams

As a product manager, you must work effectively with cross-functional teams, including engineering, design, and marketing. Your ability to collaborate and communicate with these teams can determine the success of your product. Here are some key tips for collaborating with cross-functional teams:

1. Foster a Culture of Transparency

Creating a culture of transparency can help build trust and facilitate better communication within your team. Share information freely, encourage others to do the same, and be open to feedback.

2. Build Strong Relationships

Strong relationships are essential for effective cross-functional collaboration. Take the time to get to know team members personally, and find common ground to build on. This can help reduce conflicts and encourage teamwork.

3. Clarify Roles and Responsibilities

Clearly defining roles and responsibilities can help minimize confusion and misunderstandings. Make sure everyone on your team understands their role in the project and what is expected of them.

4. Communicate Clearly and Effectively

Effective communication is critical for success as a product manager. Make sure you are communicating clearly and effectively with your team, and that everyone is on the same page.

5. Embrace Diversity and Inclusion

Diversity and inclusion are key to building strong cross-functional teams. Embrace different perspectives and ideas, and encourage everyone to contribute to the project.

By following these tips, you can create a collaborative and productive environment for your cross-functional team. Remember, effective collaboration is essential for creating successful products.

One of the most critical skills that product managers must possess is the ability to collaborate and communicate effectively with cross-functional teams. These teams may include designers, engineers, marketers, and executives, who all have different objectives and perspectives. Product managers must be able to coordinate and motivate these teams to work together towards a common goal.

Successful collaboration starts with a clear understanding of each team member’s role and responsibilities. Product managers must establish a clear communication plan and regular check-ins to ensure everyone is on the same page. They should also create an environment of trust and psychological safety, where team members feel comfortable sharing their ideas and opinions.

Product managers must also be skilled in conflict resolution and negotiation. They must navigate disagreements and find common ground to reach decisions that benefit the product and the company. This requires active listening, empathy, and open-mindedness.

Finally, product managers must be able to provide leadership and direction to their teams. They must set clear expectations, manage timelines and deadlines, and ensure everyone is aligned towards the same objective. They should also recognize and celebrate the successes of their teams, fostering a positive and collaborative culture.

Adapting to Change and Uncertainty

Product managers operate in a fast-paced and ever-changing environment. They must be able to adapt to change and navigate uncertainty to succeed in their roles. This requires a mindset of agility, flexibility, and resilience.

Product managers must be able to adjust their plans and priorities quickly when market conditions, customer needs, or competitive landscapes change. They must embrace agility and be willing to pivot when necessary to stay ahead of the curve.

At the same time, they must navigate uncertainty and manage risk effectively. They must test their assumptions regularly and gather feedback from users, stakeholders, and other sources to inform their decisions.

Adapting to change and uncertainty also requires a willingness to learn and improve continuously. Product managers must stay updated with industry trends, experiments with new tools and methodologies, and challenges their assumptions to innovate and create value for their customers.

Balancing Priorities and Trade-offs

As a product manager, one of the most significant challenges is balancing priorities and making trade-offs. In a fast-paced environment, it’s crucial to decide which features to prioritize and what to put on the backburner. The ability to make informed decisions that benefit the product and the company is crucial to success.

To balance priorities, start by understanding the product’s goals and the company’s overall strategy. This knowledge will help you determine which features are most important and which ones are less critical. Work with stakeholders to identify key performance indicators (KPIs) and establish metrics to measure progress.

When making trade-offs, consider the impact of each decision on the overall product roadmap. You may have to sacrifice certain features to ensure that the product stays focused and reaches its objectives. Be transparent about the trade-offs you make and communicate the reasons behind them to stakeholders.

Prioritizing features may also mean saying no to certain requests. You must understand the product’s core value proposition and stay true to it. It’s easy to get sidetracked by requests that do not align with the product’s vision, but saying no can save time and resources.

To balance priorities and make effective trade-offs, you must communicate effectively with cross-functional teams. Work closely with engineering and design to ensure that the product meets the user’s needs and is feasible to build. Collaborate with the marketing team to ensure that the product messaging and positioning align with the company’s overall brand strategy.

In conclusion, balancing priorities and making trade-offs is an essential skill for product managers. Establish clear goals, work with stakeholders to identify KPIs, and communicate effectively with cross-functional teams to make informed decisions.

Continuous Improvement and Learning

Continuous improvement and learning are critical for product managers to succeed in their roles. By gathering feedback, iterating on products, and staying up-to-date with industry trends, product managers can ensure that their products are always relevant and meeting customer needs.

One way to continuously improve is by leveraging data analysis. By collecting and analyzing data, product managers can identify areas for improvement and make data-driven decisions. They can also use A/B testing to try out different features and approaches to see what works best.

Product managers also need to stay current with industry trends and emerging technologies. This can involve attending conferences, following industry blogs and publications, and networking with other professionals in the field. By staying informed, product managers can identify new opportunities and design products that are ahead of the curve.

Finally, product managers need to be willing to learn from their mistakes. By embracing failure and taking a growth mindset, product managers can learn from their missteps and iterate on their products to make them even better. This also involves being open to feedback and using it to inform future decisions.

Overall, continuous improvement and learning are essential for product managers to succeed. By using data analysis, staying updated with industry trends, and being willing to learn from failures, product managers can unlock their potential and create products that truly stand out.

Unlock Your Potential as a Product Manager

Congratulations! You have learned about the key characteristics and skills possessed by successful product managers. By understanding and mastering their mindset and thinking process, you can unlock your potential as a product manager and excel in your role.

Remember, developing a product manager mindset requires continuous learning, critical thinking, and problem-solving skills. You must be able to analyze data, collaborate with cross-functional teams, and communicate effectively with stakeholders to drive successful product development.

As you continue your journey as a product manager, always seek to learn and improve. Stay updated with industry trends, gather feedback from customers, and iterate on your products. Embrace change, pivot when necessary, and make informed decisions based on data and market insights.

Apply Your Knowledge

Now that you have learned the fundamental skills required to think like a product manager, it’s time to apply your knowledge. Start by setting clear goals and prioritizing tasks based on their impact on customer value and business outcomes. Use data to inform your decision-making process and always seek to collaborate with cross-functional teams.

Remember, becoming a successful product manager takes time, dedication, and hard work. But with the right mindset and skills, you can unlock your potential and create products that drive meaningful impact for your users and business.

Q: How can I think like a product manager?

A: To think like a product manager, it is important to develop a product manager mindset and thinking process. This involves understanding the key characteristics and mindset of a successful product manager, strategically approaching product development, developing decision-making skills, using problem-solving techniques, training the product manager mindset, cultivating critical thinking skills, mastering analytical skills, understanding the product manager thought process, collaborating with cross-functional teams, managing stakeholders and influencing decision-making, adapting to change and uncertainty, balancing priorities and trade-offs, and embracing continuous improvement and learning.

Q: What is the product manager mindset?

A: The product manager mindset refers to the key characteristics and mindset of a successful product manager. It involves strategic thinking, problem-solving skills, decision-making abilities, critical thinking, analytical skills, and adaptability. Product managers need to have a deep understanding of their target market, identify market opportunities, set goals, and create product roadmaps.

Q: How do product managers approach product development?

A: Product managers approach product development strategically. They identify market opportunities, set goals, and create product roadmaps. They analyze data, gather user feedback, and conduct market research to make informed decisions. They also use problem-solving techniques such as design thinking and lean startup methodologies to overcome challenges and create successful products.

Q: What decision-making skills do product managers need?

A: Product managers need to possess strong decision-making skills. They need to analyze data, gather user feedback, and conduct market research to make informed decisions. They should be able to evaluate options, prioritize tasks, and consider trade-offs. They need to take into account various factors such as market trends, customer needs, and business objectives.

Q: What problem-solving techniques do product managers use?

A: Product managers use various problem-solving techniques and methodologies. They employ frameworks such as design thinking and lean startup to tackle challenges and find innovative solutions. These techniques involve empathizing with users, defining problems, ideating solutions, prototyping, and testing. Product managers are skilled at identifying and addressing customer pain points.

Q: How can I train myself to think like a product manager?

A: To train yourself to think like a product manager, you can engage in activities and exercises that help develop the necessary skills and mindset. This can include reading books and articles on product management, attending workshops and webinars, working on side projects, and practicing critical thinking and problem-solving. It is important to continuously learn and seek opportunities to apply your knowledge in real-world scenarios.

Q: Why is critical thinking important for product managers?

A: Critical thinking is important for product managers as it enables them to analyze information, evaluate options, and make informed decisions. It allows them to consider multiple perspectives, identify strengths and weaknesses, and find optimal solutions. Critical thinking helps product managers navigate complex situations, prioritize tasks, and drive successful product development.

Q: What analytical skills are important for product managers?

A: Product managers need to possess strong analytical skills to excel in their roles. They should be able to analyze data, interpret market trends, and conduct competitive analysis. They need to understand key performance indicators (KPIs), gather insights from user feedback, and make data-driven decisions. Strong analytical skills enable product managers to identify opportunities, measure success, and continuously improve their products.

Q: What is the product manager thought process?

A: The product manager thought process involves ideating, prioritizing, and validating ideas to create successful products. Product managers generate ideas based on market research, customer needs, and business goals . They then prioritize these ideas based on various factors such as feasibility, impact, and strategic alignment. Finally, they validate the ideas through user testing, feedback, and iteration, ensuring that the products meet customer expectations.

Q: How do product managers collaborate with cross-functional teams?

A: Product managers collaborate with cross-functional teams such as engineering, design, and marketing to bring products to market. They work closely with these teams to define product requirements, provide guidance and support, and ensure effective communication. Product managers facilitate collaboration, resolve conflicts, and align efforts towards achieving product goals.

Q: How do product managers manage stakeholders and influence decision-making?

A: Product managers effectively manage stakeholders by building relationships, managing expectations, and driving alignment. They communicate product vision and strategy, seek buy-in from stakeholders, and ensure their needs are considered in decision-making. They use their influence and persuasive skills to advocate for the best interests of the product and make decisions that drive its success.

Q: How do product managers adapt to change and uncertainty?

A: Product managers are adept at adapting to change and navigating uncertainty. They embrace agility, test assumptions, and embrace feedback. They stay updated with industry trends, monitor market dynamics, and pivot their strategies when necessary. Product managers are resilient and proactive in addressing challenges, ensuring that their products remain relevant and competitive.

Q: How do product managers balance priorities and make trade-offs?

A: Balancing priorities and making trade-offs is a common challenge for product managers. They use various strategies to effectively prioritize tasks and make decisions. They consider factors such as customer needs, business objectives, and resource constraints. Product managers communicate trade-offs transparently, ensuring that stakeholders understand the rationale behind their decisions.

Q: Why is continuous improvement and learning important for product managers?

A: Continuous improvement and learning are essential for product managers to stay ahead in a rapidly evolving business landscape. They gather feedback from users, monitor product performance, and iterate on their products. They stay updated with industry trends, attend conferences, and engage in continuous learning to enhance their skills and knowledge. Continuous improvement and learning enable product managers to deliver valuable and innovative products.

Q: How can I unlock my potential as a product manager?

A: To unlock your potential as a product manager, it is important to think like a product manager. Embrace the product manager mindset, develop your critical thinking and problem-solving skills, master analytical skills, and continuously learn and improve. Collaborate effectively with cross-functional teams, manage stakeholders, and navigate uncertainty and change. Balancing priorities and making trade-offs are key aspects. By applying these principles, you can unlock your potential and excel in the field of product management.

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The Top 18 Product Manager Skills to Master

Carlos González De Villaumbrosia

Updated: May 6, 2024 - 15 min read

Navigating the path to becoming a top-tier product manager demands a rich blend of skills, from strategic insight to technical savviness and user empathy. 

This guide dives deep into the 18 critical product manager skills that stand at the core of successful product management. Each skill, from understanding market dynamics and mastering data analysis to fostering team leadership and nurturing adaptability, is crucial for navigating the challenges of bringing innovative products to market. With each skill, you'll find a pro tip to help you apply these concepts effectively, enhancing your product management toolkit.

 Whether you're aspiring to step into the role or are a seasoned product manager looking to refine your expertise, these insights are tailored to elevate your skill set in this dynamic field. Time to unpack the essential skills for product management success, let’s do it! 

Top Skills for Product Managers

Certain skills stand as the bedrock upon which successful product strategies are built. These foundational capabilities enable product managers to navigate the complex landscape of modern markets, ensuring that their products not only meet current demands but also anticipate future trends. Let's explore three top product management skills that are indispensable for anyone looking to excel in this dynamic field.

1. Strategic Thinking

At the heart of effective product management lies the ability to engage in strategic thinking. This means not just envisioning the immediate next steps for a product, but developing a comprehensive, long-term vision that guides its evolution. A product manager skilled in strategic thinking can set clear, achievable goals that align with broader business objectives, ensuring that every feature developed and every update released contributes to the overarching vision of the product. This forward-thinking approach requires a deep understanding of the product's mission, its place within the market, and how it can evolve to meet the changing needs of its users.

Pro tip: By conducting a series of SWOT analyses you can develop this skill. This approach is helpful because it combines analytical and critical thinking with both inductive and deductive logic. You can also take your strategic skills to the next level with Product School's Product Strategy Micro-Certification (PSC)™️ . This program is designed to refine your ability to craft long-term visions and set achievable goals that align with broader business objectives. 

2. Market Sensitivity

In an ever-shifting market landscape, being attuned to market trends and competitive dynamics is crucial. Market sensitivity allows product managers to grasp the subtle shifts in consumer behavior, emerging industry trends, and the movements of competitors. This skill involves not only the analysis of quantitative data but also a qualitative understanding of market narratives and user feedback. By staying sensitive to these changes, a product manager can steer the product in directions that capitalize on market opportunities and sidestep potential pitfalls, ensuring the product remains relevant and competitive.

Pro Tip: Stay market-sensitive by subscribing to industry newsletters like the Product School Newsletter , following key influencers on social media , and regularly conducting competitor analysis to understand their strategies and product features.

3. User-Centric Design Approach 

The most successful products are those that truly resonate with their users, addressing their needs and exceeding their expectations. A user-centric design approach places the user at the forefront of every decision made in the product development process. This skill transcends mere aesthetics to encompass a deep understanding of user behavior, preferences, and pain points. By prioritizing user needs, a product manager ensures that every feature, update, and tweak enhances the user experience, making the product not only useful but also delightful to use. Incorporating user feedback into the product design process ensures that the product remains aligned with user needs, fostering loyalty and driving long-term success.

Pro Tip: Improve your user-centric design skills by engaging directly with users through interviews, surveys, and usability testing. 

Technical Skills for Product Managers

Technical skills not only facilitate better communication with development teams but also empower product managers to make more informed decisions. Here, are four key technical skills that are invaluable in enhancing a product manager's toolkit.

4. Technical Proficiency

The ability to understand and articulate the technical aspects relevant to a product is a critical skill for product managers. This doesn't mean a product manager needs to code, but a solid grasp of the technology stack, software development processes, and the technical challenges that teams might face can greatly enhance collaboration and innovation. Technical proficiency helps in setting realistic goals, making informed trade-offs, and understanding the implications of technical decisions on user experience and product feasibility.

Pro Tip: Many online platforms offer courses in basic programming, system architecture, and product development processes. Websites like Coursera, edX, and Udemy host a variety of courses designed by experts from leading universities and tech companies. Engaging with engineering teams in hands-on projects can further solidify your understanding and application of these concepts.

5. Data Analysis

In the age of big data, the capacity to analyze and draw insights from data sets is key. Product managers must be skilled at utilizing data for informed decision-making, turning vast amounts of user interactions, performance metrics, and market data into actionable insights. This involves understanding which metrics are key performance indicators, how to set up and interpret A/B tests, and how to use analytics tools to monitor user behavior. Mastery of data analysis enables product managers to make evidence-based decisions that drive product growth and improvement.

Pro Tip: Elevate your data analysis proficiency by mastering tools such as Google Analytics, SQL, and Excel. Additionally, consider enhancing your expertise with specialized training, like the Product Analytics Micro-Certification (PAC)™ offered by Product School. This course is tailored to equip product managers with the analytical skills necessary to decode user data into strategic insights, further empowering your decision-making processes.

6. UX/UI Design Principles

A fundamental understanding of UX/UI design principles is essential for product managers. This knowledge ensures that product decisions are made with the user experience in mind, leading to intuitive, accessible, and engaging products. Familiarity with design thinking processes and prototyping tools allows product managers to effectively collaborate with designers and advocate for the user in every feature and interface decision. Grasping these design principles helps in creating products that not only function well but also provide a seamless and enjoyable user experience.

Pro Tip: Enhance your grasp of UX/UI design principles by taking design courses, participating in design sprints, and using prototyping tools like Sketch or Figma to get hands-on experience.

7. Product Development Lifecycle

Knowledge of the entire product development lifecycle, from idea generation through to launch and beyond, is crucial for effective product management. Understanding each stage - including concept validation, market fit assessment, development, testing, launch, and iteration - enables a product manager to navigate the process smoothly. This comprehension helps in anticipating potential bottlenecks, managing timelines, and ensuring that every phase of development aligns with the overall product strategy and market needs.

Pro Tip: Gain a thorough understanding of the product development lifecycle by managing end-to-end projects, even if they're small. Learning project management methodologies can also provide structure to this learning.

Advanced Product Management Skills

Beyond the fundamental and technical skills, there are advanced competencies that set apart highly effective product managers from the rest. These skills are not just about managing products but about leading the market through innovation, strategic foresight, and impeccable execution. Let's look into four advanced skills that every top-tier product manager should possess.

8. Agile and Scrum Mastery

In the fast-paced world of product development, agility is key. A profound understanding of Agile methodologies and Scrum practices is essential for managing the iterative development process efficiently. Mastery of these frameworks allows product managers to adapt to changes quickly, ensure continuous delivery of value, and maintain alignment with customer needs and company goals. Agile and Scrum mastery involves more than just following rituals; it requires fostering an agile mindset throughout the team, promoting collaboration, transparency, and a relentless focus on quality.

Pro Tip: Achieve mastery in Agile and Scrum by obtaining certifications such as Scrum Master or Product Owner, and apply the principles in your daily work to reinforce your learning. 

9. Roadmapping

Strategic product roadmapping is the art and science of defining the path a product will take over time. This skill involves not just the ability to plan but to envision the future of the product in the context of evolving market conditions, technological advancements, and user expectations. Effective roadmapping provides a clear, strategic vision that guides the product team's efforts, aligns stakeholders, and communicates the product's direction to the wider organization. A well-crafted roadmap balances long-term vision with short-term flexibility, allowing for adjustments as new information and opportunities arise.

Pro Tip: Elevate your roadmapping expertise by enrolling in Product School's Product Roadmapping Micro-Certification (PRC)™️ . This specialized program is designed to deepen your understanding of crafting strategic roadmaps, ensuring you can effectively communicate your product's vision and adapt to market dynamics. Discover more about the certification here.

10. Prioritization Techniques

With an endless stream of ideas, requests, and feedback, the ability to prioritize is crucial for product managers . Advanced prioritization techniques enable product managers to evaluate and rank features, tasks, and initiatives based on a variety of factors, including strategic alignment, customer value, impact on growth, and resource availability. Mastering prioritization ensures that the product team focuses on the work that matters most, optimizing the use of limited resources to deliver maximum value to both the business and its customers.

Pro Tip: Hone your prioritization techniques by practicing frameworks like RICE or MoSCoW in real project scenarios. Regularly review the impact of your prioritization decisions to refine your approach.

11. Performance Metrics Analysis

In a data-driven environment, the ability to establish, track, and interpret key performance indicators (KPIs) is invaluable. Advanced performance metrics analysis goes beyond mere data collection; it involves selecting metrics that truly reflect the product's success, understanding the story behind the numbers, and using insights to drive strategic decisions. This skill is about linking performance data to business outcomes, identifying trends and patterns that indicate areas of success or need for improvement, and communicating these insights in a way that informs and inspires action.

Pro Tip: Master performance metrics analysis by defining clear KPIs for your projects and using dashboards to track these metrics. Learn from each product iteration to refine your KPIs.

Leadership and Interpersonal Skills

The ability to lead and interact effectively with others is what often distinguishes exceptional product managers. Leadership and interpersonal skills are crucial for navigating the complexities of team dynamics, stakeholder expectations, and the collaborative nature of product development. Here, we explore four pivotal skills that enable product managers to excel in their leadership roles.

12. Effective Communication

The cornerstone of strong leadership is the ability to communicate effectively . For product managers, this means being able to convey ideas clearly, listen actively, and adapt communication styles to suit different audiences, from technical teams to non-technical stakeholders. Effective communication ensures that everyone is aligned with the product vision, objectives, and priorities. It's about more than just transmitting information; it's about fostering understanding, encouraging collaboration, and building trust within and outside the team.

Pro Tip: Enhance your communication skills by practicing active listening, engaging in public speaking opportunities, and writing clear, concise product documents and updates.

13. Team Leadership

Inspiring and guiding a product development team requires more than just a title; it requires the ability to motivate, support, and drive a team toward common goals. Good team leadership involves setting clear expectations, providing constructive feedback, and recognizing achievements. It also means being a role model in terms of work ethic, attitude, and commitment to the product's success. A savvy product manager leads by example, empowering their team to take ownership and excel in their roles.

Pro Tip: Develop your team leadership by mentoring team members, leading cross-functional projects, and seeking feedback on your leadership style to identify areas for improvement.

14. Negotiation and Conflict Resolution

In the collaborative environment of product development, differing opinions and interests are inevitable. The ability to negotiate and resolve conflicts constructively is essential for maintaining a cohesive team and positive working relationships. This involves understanding different perspectives, finding common ground, and arriving at solutions that are acceptable to all parties. Skilled product managers approach conflicts as opportunities for growth and learning, ensuring that resolutions contribute to the team's and product's advancement.

Pro Tip: Improve negotiation and conflict resolution by participating in negotiation workshops or courses, and practice resolving conflicts in low-stakes situations to build your skills.

15. Stakeholder Management

Effectively managing stakeholders is critical for a product manager, given the diverse range of interests and expectations involved. This skill entails identifying key stakeholders, understanding their needs and concerns, and keeping them engaged and informed throughout the product lifecycle. Successful stakeholder management involves clear communication, regular updates, and the ability to manage expectations proactively. By building strong relationships with stakeholders, product managers can secure the support and resources needed for their product's success.

Pro Tip: Strengthen your stakeholder management by mapping out key stakeholders for your projects, understanding their needs and concerns, and establishing regular check-ins to keep them informed. Leverage Product School's Product Requirements Document (PRD) Template to clearly articulate project goals, features, and timelines, fostering transparency and alignment with stakeholders. 

Soft Skills for Product Managers

While technical and leadership skills are vital, the nuances of product management often require a set of soft skills that enable product managers to navigate the complex web of human interactions and rapidly changing scenarios. These soft skills complement the more tangible competencies, making a product manager truly effective and respected. Let's explore three vital soft skills that every product manager should cultivate.

16. Problem-Solving Creativity

Product management is inherently about solving problems — from user pain points to technical challenges and team dynamics. However, what sets exceptional product managers apart is their creative approach to problem-solving. This involves thinking outside the box, leveraging innovative thinking, and applying an analytical mindset to devise effective solutions. Creativity in problem-solving isn't just about coming up with unique ideas; it's about blending information from various sources, thinking critically about potential solutions, and applying them in novel ways to overcome obstacles. This skill ensures that product managers can tackle challenges head-on, turning potential setbacks into opportunities for growth and innovation.

Pro Tip: Foster creative problem-solving by adopting a 'first principles' approach to challenges, brainstorming with diverse teams, and exposing yourself to a wide range of ideas and disciplines.

17. Adaptability

The only constant in product management is change. Market trends shift, user needs evolve, and unforeseen challenges arise. Adaptability — the ability to remain flexible and adjust strategies in the face of changing circumstances — is crucial for product managers. This skill encompasses more than just pivoting product features; it's about maintaining a growth mindset, being open to feedback, and continuously learning from both successes and failures. An adaptable product manager can navigate the uncertainties of product development with grace, ensuring that the product remains aligned with user needs and market opportunities, even as they fluctuate.

Pro Tip: Increase your adaptability by putting yourself in new, challenging situations that force you to learn and adjust quickly. Reflect on these experiences to grow your adaptive skills.

18. Empathy

Empathy is the ability to understand and share the feelings of another, and it's a cornerstone of user-centered product design. For product managers, empathy extends beyond the users to include team members and stakeholders. It's about genuinely understanding the perspectives, challenges, and motivations of all parties involved in the product's lifecycle. Empathy enables product managers to make decisions that resonate with users, foster a positive and inclusive team culture, and build strong, trust-based relationships with stakeholders. By putting themselves in the shoes of others, product managers can ensure that their products not only meet functional needs but also connect with users on a deeper level, driving engagement and loyalty.

Pro Tip: Deepen your empathy by actively practicing perspective-taking, engaging in volunteer work to understand different life experiences, and incorporating regular user feedback sessions into your routine.

Enhance Your Product Management Skills by Enrolling in Comprehensive Certification Programs

Continuous skill development is key to getting your product career off the ground as well as advancing it. Product School offers free micro-certifications that are perfect for budding product managers, especially the Product Strategy Micro-Certification.

If you're ready to dive in head first into building your product management skills, then a comprehensive certification program is a great option. 

The Product Manager Certification (PMC)™ by Product School is designed and led by some of Silicon Valley's most successful product managers and beyond. This certification is designed to equip you with the knowledge, skills, and practical experience needed to excel as a product manager. The program is taught online, live, and in small groups, offering personalized instruction and interaction. Join us to take your product skills to the next level! 

Updated: May 6, 2024

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Product Thinking: Definition, Process, and Practicing Tools

10 min read

Product thinking is all about putting yourself in the other person’s (user) shoes. What do they want or need? Do they like certain colors? What makes them happy? How could you make their life easier?

Only by adopting a product-thinking mindset and following it as a process can you get to know your users better.

In this article, we cover the basics of product thinking: What it is, how to adopt it, and how to bring it to life to drive product-led growth . Let’s get started.

• Product thinking is the process of identifying problems and coming up with solutions by placing the user in the center. This practice also invites you to think of your business goals and current technology limitations.
• It’s crucial to install a product-thinking mindset in your business to influence design thinking. It also allows you to create user-centric designs, foster agile iteration, promote scalability, and enable continuous product learning.
• The process of product thinking starts by defining the problem. Then, you need to identify market opportunities, correlate them with business goals, and ideate possible solutions.
• To leverage product thinking in product development , you can:
• Conduct user research to understand their needs, through feedback surveys , interviews, and social listening.
• Identify and assess market opportunities, by researching market gaps and trends to tailor profitable products.
• Decide solutions and start building, start by developing an MVP to test early and iterate based on feedback.
• Undertake strategic planning and allocation of resources, and align them with business goals.
• Collect data for analytics, such as behavioral and sentiment data, to improve the product.
• Continuously iterate your product based on findings, by regularly refining the product based on user feedback.
• Use these problem space tools to practice a product thinking mindset:
• 5W1H. Ask who, what, when, where, why, and how to identify problems.
• The Mom Test . Conduct unbiased interviews to gain genuine user insights.
• Jobs-to-be-done framework. Identify and address user tasks and goals through interviews and surveys.
• Check out these solution space tools for product thinking:
• User stories . Share your user needs and desired outcomes in a structured story.
• Problem-solving methods. Explore approaches like minimizing, maximizing, transforming, combining, modifying, and substituting features.
• Value proposition canvas. Align your solution with customer values and needs by mapping out customer profiles and creating product value .
• Add native-feel product interventions and track their performance in the same place with Userpilot. Iterate and make changes as you go to drive product-led growth. Get a demo .

Try Userpilot and Take Your Product-Led Growth to the Next Level

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What is product thinking?

Product thinking is the continuous process of identifying customer problems and finding solutions that make sense to them and the business. All, by having a strong understanding of your current technology limitations.

Why do product thinking skills matter?

Product thinking skills are important because they influence the product team’s decisions. Strong product thinking skills lead to:

• User-centric designs. When you adopt a product-thinking mindset, you can build experiences (UX) that serve user needs. This transforms product growth into product-led growth .
• Agile iteration and continuous discovery. For the user to have the last word, you need to test your product with real people, make changes based on their feedback, and test again. A product thinking approach supports (and understands) the need for multiple iterations.
• Scalability and sustainable product growth. Product thinking brings the user, the business, and the technology together. This means your developers also need to work alongside other departments. When teams work together and not in silos, you can better prepare for potential future scenarios.
• Continuous product learning. The more you test your existing solution, the more you get to know how your users interact with and what they value about your product. This form of continuous learning is a competitive advantage and can lead to sustained product-led growth.

What is the product thinking process?

Providing a good user experience will inevitably lead to higher retention, but you might not always have the money or software infrastructure to make user ideas come to life. This is why you need to establish an internal product thinking process.

Here’s what a product thinking process can look like:

• Define problems. Run user persona surveys or implement a jobs-to-be-done template to spot your current issues. Determine exactly what’s causing your users and your business to struggle, e.g., low conversion rates despite a large and steady organic traffic base.
• Identify opportunities. Then, measure the size of the opportunity, potential ROI, market opportunity, and possible market share gain. For instance, imagine your average order value (AOV) per customer is $70, and have a monthly traffic of 10,000 people. If you can take your conversion rate from 2% to 7%, you could increase your monthly income by $35,000.
• Correlate with business goals. Once you’ve calculated the opportunity size, determine how relevant this problem is to your business. Using the previous example, we can all agree the problem is critical to the business. Not knowing why customers aren’t converting could cause you to leave at least $35,000 on the table every month.
• Find a solution. Use solution space frameworks to present potential solutions and let the product managers and developers decide what to do based on your budget and current infrastructure. Build prototypes to test ideas and hypotheses and launch a beta version to collect more feedback. Keep iterating until you find the right solution.

How to leverage product thinking in product development?

When you make product thinking part of product development, you build more user-centric products. You can do this by following these six generic proven models:

1. Conduct user research to understand their needs

Product thinking is all about putting the user at the center. So, launch feedback surveys, conduct interviews or focus groups, do social listening, or build a voice of the customer map to define their needs.

The goal of user research is to define exactly what they need from a product like yours. You can also determine what day-to-day life needs your product can potentially solve.

Here’s an example of a user research survey that you can build using Userpilot:

2. Identify and assess market opportunities

As mentioned above, you must research market opportunities and correlate them with the benefits for your business. Running a product market fit analysis and conducting market research allow you to build products that solve user problems and make a profit.

The better you can identify gaps, trends, and areas of opportunity within your target market, the more tailored products you’ll be able to develop—and the more profit you’ll make.

3. Decide solutions and start building

Ideate and find problem solutions alongside your users. Conduct concept testing before settling on a solution. Once you find a problem solution fit, build an MVP with minimum viable features for users to interact with.

Test early and often so designers can get feedback they can build into the product. Continuous testing and editing of your product based on real user insights is one way to ensure your solution’s success.

4. Undertake strategic planning and allocation of resources

Your business resources are limited, use them efficiently. Achieve proper resource allocation through strategic planning and defining a product roadmap that outlines your product vision. Make sure this roadmap is linked to bigger business goals.

For example, if your designers are working on a new feature, take that into account before assigning them more work. Proper resource allocation leads to better results and a more stable business.

5. Collect data for analytics

Test your product before, during, and after development to collect user behavioral and sentiment data. You can use a tool like Userpilot to collect event-tracking data, user behavior tracking , and survey analytics of in-app interventions. Analyze the results and make plans to iterate on the same product idea until you get favorable results.

6. Continuously iterate your product based on findings

Lastly, and throughout the product lifecycle, iterate on your product based on an analysis of user feedback .

The faster you can act upon user feedback and improve your product, the closer you get to increased customer satisfaction.

For example, using NPS response tags in Userpilot, you can quickly identify common issues among your NPS detractors and set guidelines to build better products.

Problem space tools to practice product thinking mindset

Here are problem space tools to dive deep into your business and users’ problems and make product thinking come to life:

1. The 5W1H approach to identify the underlying problems

This tool invites you to ask questions that dig into your tangible issues to identify the real or hidden problems.

Imagine your problem is that you’re the CEO of a content marketing agency with a low client retention rate using this tool.

• What is the problem? The agency has a great sales team, so it’s easy to close deals, but the client-facing team is disorganized and late.
• Who is experiencing the problem? Clients. They’re not feeling satisfied with the service, so they churn fast.
• Where does the problem happen? At the editing stage. Editors are scheduled to edit the pieces after the client meeting. The work is usually late.
• Why is this problem happening? Because the project managers have too many responsibilities.
• When does the problem usually occur? At the end of the three-month mark.
• How to approach this problem? Hire more project managers or allow writers and editors to set deadlines for themselves.

2. The Mom Test to collect insights

The Mom Test is a problem space tool for having conversations and asking questions to gain genuine user insights.

Ask questions about past behaviors, specific cases, concrete details, unbiased questions, general user behavior, and recent experience. For example:

• What motivated you to start using [product/service]?
• What goals or objectives are you trying to achieve by using [product/service]?
• Can you tell me about the last time you [performed X action]?
• How many apps do you use daily to achieve [X goal]?

3. The jobs-to-be-done framework to determine user needs

The JTBD framework proposes that people are willing to purchase a license or a product if it allows them to complete a certain job.

JTBD in product management implies that users can view jobs as activities or as progress, i.e., your product/service can help them perform certain tasks or improve their lives.

To identify the problem space using this framework, you can conduct micro surveys or interviews. Analyze the answers, create a job map, and determine which jobs you’ll address with your product.

Solution space tools to practice product thinking

After you’ve identified the problem, it’s time to think of ways to solve it. These solution space tools propose different problem-solving techniques that place the user at the center.

1. Create user stories

User stories are a powerful way of identifying and communicating customer needs and requirements. The idea is to write a paragraph that tells a story about who the user is and what they want. The product team is the one to determine how to solve the problem based on other testing methods.

Every user story should contain three elements: Persona, action, and outcome.

For example, as a project manager , I want to be able to assign deadlines to tasks in bulk so that I can reduce mistakes and use my time in strategic allocation planning.

2. Leverage problem-solving methods

This solution space tool invites you to think of different ways to solve a problem based on your several existing solutions. For example:

• Minimize your offer by reducing the scope, e.g., YouTube vs. Coursera.
• Maximize your product by adding more functionality to an existing solution, e.g., your phone’s note app vs. Notion.
• Transform your tool by offering multiple separate solutions, e.g., Uber and Uber Eats.
• Combine two or more existing solutions into one, e.g., WhatsApp (messaging, calling, video calling). This is only recommended for products getting to advanced growth stages instead of first-release ones.
• Modify or rearrange your tool by revamping and improving a current product, e.g., your phone reminders into Doist.
• Substitute one part of a current solution, e.g., Readers (you could do this from your phone or laptop).

3. Use value proposition canvas

A value proposition canvas is a tool for positioning a product/service around the customer’s values and needs.

The canvas is usually divided into two parts: the customer profile and the value map.

The customer profile includes the different jobs they want to address and their pains and gains. The value map, on the other hand, focuses on how the business can create value for the customer.

Embracing product thinking leads to better product management and more satisfied users. Do this by implementing and following the product thinking process.

You can also use problem and solution space tools to identify the root cause of your users’ struggles and ideate creative ways to solve them.

If you want to leverage product-led growth, try Userpilot. Here, you’ll be able to conduct user research, add in-app interventions, and keep track of your user feedback, all in one place. Get a demo .

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Remember playing the game Clue as a kid? You’d collect evidence, analyze the possibilities, and come to your own conclusions based on what you knew (and what you didn’t). As a project manager, the skills you developed playing games like Clue are extremely useful. The acting gatekeeper for your team, you’re used to evaluating information and making decisions to benefit your department and the business as a whole. Whether you’re a seasoned project manager or just learning the ropes, knowing how to fine-tune your critical thinking skills will come in handy every single day.

Continue reading to learn: 

• A definition of critical thinking
• The six critical skills project managers need
• Why critical thinking skills are crucial for project managers
• How to work your critical thinking muscles
• Effective critical thinking techniques

Let’s get critical. 

What is critical thinking?

Ask five different people what critical thinking means and you’ll probably get five different answers. But, generally speaking, critical thinking refers to intellectual tactics used to observe and analyze information to draw better conclusions. A key factor in critical thinking is looking beyond the surface of an idea, a concept, or a piece of information. It involves asking questions — to yourself or others — to go deeper and draw better conclusions.

Critical thinking can be used by anyone, in any role, to make their job easier. You can find new insights, optimize an inefficient process, and get projects done faster. Developing your critical thinking means building habits that follow you throughout your career.

Here’s a breakdown of crucial critical thinking skills for project managers — or any other role.

6 critical thinking skills for project managers

Skill #1: observation.

Critical thinking skills starts with being more aware of what’s going on. Working on an important project? Being observant might mean keeping a close eye on comments from collaborators, or just paying better attention during meetings with your data team. Becoming a more observant person means you can identify problems others miss or pick up on context clues that help you solve problems down the road.

Skill #2: Analysis

Spotting problems, clues, and that one important comment in a Slack thread is just the beginning. If observation is how you bring in more information, analysis is how you determine what you’re going to do with it. Having an analytical approach to your problems means knowing what information you have available, knowing how relevant each piece is to the problem at hand, and being able to ask better questions. 

Skill #3: Identifying bias

This critical thinking skill ties in closely with analysis but is important enough to be its own skill. Bias is inherent in everything we do, from collecting data to creating content and solving problems. For instance, because this blog post is being written by a marketer, it might use different examples than a writer from a more technical team. You can spot a bias by asking yourself questions, like “are there elements of this person’s experience or perspective that might be affecting what they’re saying?” Bias can affect every role in an organization.

Skill #4: Inference

This is a fancy term for drawing better conclusions. This crucial critical thinking skill helps you make better use of the information you collect, the questions you ask, and the potential problems you spot. Think of everything you might have done so far as putting ingredients in a stew. You can have the best ingredients in the world, but if you leave the pot on too long, you’ll end up with something closer to charcoal than stew.

One of the quickest ways to improve your inference skills is, ironically, by slowing down. Instead of blurting out the first conclusion that comes to mind, start with a few educated guesses, and compare them to each other. Which one makes the most sense? Which is weakest?

Skill #5: Problem-solving

If inference is how you come to better conclusions, problem-solving is how you put them into action. This critical thinking skill encompasses the tactics and strategies you use to take something that looks good on paper and make it great in practice. Problem-solving includes  planning  how you’ll solve a problem, but also reacting to hurdles along the way and staying flexible. A great way to improve your problem-solving skills is asking yourself “is this still the best way to solve the problem?” at every stage of your plan. Sometimes, people can get set in their ways, meaning they stick to an ineffective solution long after they should have pivoted to something else.

Skill #6: Curiosity

This is less a skill than it is a characteristic every critical thinker should work to develop. Every other critical thinking skill is helped by broadening having access to more information and more knowledge. For instance, you can be the most observant person in the world, but you’d still struggle to pick out all the problems in a presentation from the data team if you weren’t at least a little familiar with data analysis. Beyond expertise in specific fields, critical thinking — and thinking in general — is easier when you have a breadth of knowledge and experiences to draw from. You can find links that others would miss and learn to think in different ways. Read more books, listen to more podcasts, and approach the world at large with more curiosity.

Why do project managers need critical thinking skills? 

When people hear the phrase ‘critical thinking’, they often picture a negative person. Being a critical thinker doesn’t mean you have a bad attitude or that you aren’t a team player. It’s quite the opposite. 

Critical thinking means questioning processes, projects, and even core business practices that are widely accepted as given. Not to tear them down, but to improve them for the benefit of the entire team. 

The Project Management Institute (PMI) outlines how important this skill is: 

“Corporate leaders have put critical thinking at the top of the list of essential competencies needed by their workers to understand these challenges, explore opportunities, and make good decisions in this new competitive environment.” 

When used in the context of project management, effective critical thinking can: 

• Encourage deeper, more  productive discussions
• Facilitate open communication between team members 
• Resolve issues between team members and stakeholders more quickly
• Develop better solutions to problems 
• Reduce stress throughout a project 
• Prevent repetitive issues
• Achieve better results faster 

Now that you know why critical thinking skills are priority for project managers, it’s time to find out how you can improve yours.

How project managers can develop better critical thinking skills 

There’s one core principle that will guide your critical thinking: question everything. Project managers can’t just approve all requests that come in from stakeholders across the organization — unless they want a stressed-out, overworked team.

A good project manager knows how to prioritize projects according to the business’ overall needs and goals. With every request that comes in, you need to be prepared to evaluate the project’s impact on the business, the necessity of the project, and the why. Building this process — this instinct — into your daily work is how you build and strengthen your critical thinking skills.

For every potential project, consider: 

• Why is this important right now? While most stakeholders will say their project is urgent, you need to find out exactly how true this is. Perhaps the project could be scheduled for a later date that works better for your team’s schedule. 
• Why does my team need to be involved? For example, if you manage the creative team and a request for a sales presentation comes in, figure out exactly what your team will need to do.
• Why is my team’s time better spent on this project than other projects? Does this project contribute more to the business than other work your team could be doing? 

Those are three important questions to ask yourself, but what about the questions you ask others?

When a new project lands in your inbox, you need to know what to ask of the sender and how to delicately frame those questions. There are a few question formats that work especially well for this stage of the project. These include:

• ‘tell me more’ questions (eg. Tell me more about what will be required from each member of my team)
• ‘help me understand’ questions (eg. Help me understand why this project is urgent)
• ‘can you give me an example’ questions (eg. Can you give me an example of the types of results you’re looking for here?). 

These questions allow you to get a better understanding of the project and make sure it’s a good fit for your team. They’re also usually well-received by whoever initiated the project.

Prioritization means making tough calls, and project managers need to be ready and equipped to do so. You can’t be afraid to say no when the project doesn’t make sense from a timing or business standpoint. However, you will also need to be ready to explain the reasoning behind your “no”. The following techniques will help you feel confident in your decisions and authority as a project manager. 

Critical thinking techniques for project managers 

Critical thinking skills are one thing, but when evaluating the priority of a new project, there are critical thinking techniques you can put into practice to boost results and team morale. 

• Avoid making or accepting assumptions 
• Identify potential issues (and their consequences) from the start
• Use the Five Whys to find the root of problems 

Let’s dive into these a little bit more. 

1. Avoid assumptions 

You know what they say about assuming things. When you make assumptions as a project manager, you’re missing out on and ignoring key information that could make or break your project. You can have the best critical thinking skills in the office, but making the wrong assumption can undo all your hard work.

A big part of critical thinking is digging into reasoning and probing for evidence rather than drawing your own immediate conclusions. When you’re pitched a new project — and during the course of the entire project — question any preconceived notions (yours or theirs). Ensure you’re given concrete evidence for the viability of the project, and look for any holes in the process or strategy that could impact your team. 

When challenging assumptions, consider the following questions: 

• Am I assuming all members of this project have all the information they need to complete their tasks?
• What assumptions am I making about each team members’ skill sets? 
• Am I making assumptions about each team member’s time and availability? 
• What are some possible issues that may arise with this project? How can I work backwards and challenge any assumptions in order to avoid these issues? 
• What assumptions have I made about the stakeholder or project creator? What do they need to know? 

Never take anything for granted. When your job is to facilitate and manage expectations, it’s important that you’re questioning and challenging your own assumptions — and those of team members and stakeholders — at all stages of the process. 

2. Consider potential issues 

When you’re questioning assumptions, you’re also working towards another big part of your job: risk management. By proactively questioning what could go wrong, you can prepare for any issues that might arise during the course of the project. Not only that, but you can consider the implications and consequences of when things go awry. 

Consider a cause and effect approach with hypothetical — but realistic — issues. Give yourself an hour to write down any possible issues that could arise with the project, along with a list of consequences associated with each one. For example: 

• Problem : The video editor won’t have enough time to deliver the final file. 
• Consequence : The rest of the project will be held up. Costs will increase and we could miss the deadline.  

In a perfect world, project managers wouldn’t face any problems and all projects would be smooth sailing. Since that’s unfortunately not the case, here are some helpful tools you can use to avoid the escalation of issues — as well as repeating roadblocks with future projects.

3. Use the Five Whys

In addition to the “why” questions outlined above, a proven project management technique called “The Five Whys” can help you explore the true cause or causes of any problem. 

Here’s how ProjectManagement.com explains it: 

“5 Whys is an iterative elicitation method used to explore cause-and-effect relationships underlying a particular problem. The primary goal of the technique is to determine the root cause of a defect or problem by repeating the question ‘Why?’. Each answer forms the basis of the next question.” 

To complete The Five Whys, you simply repeat the question “why?” five times until you come to the root of the problem. Each answer is understood to be a “contributing cause” that impacts the final result. 

For example: 

• Because multiple teams weren’t able to complete their tasks on time (contributing cause). 
• Because their time wasn’t prioritized properly (contributing cause). 
• Because multiple last-minute projects were assigned (contributing cause). 
• Because other stakeholders didn’t understand the prioritization and project assignment process (contributing cause). 
• Because they haven’t been properly trained or given the necessary information (root cause). 

Once you get to the root of the problem, you can take action to ensure these issues are minimized or avoided in the future. 

For project managers, sometimes taking a moment to just stop and consider all of the possibilities, consequences, and information can make all the difference between a well-thought-out decision and a future regret. Developing and exercising your critical thinking skills is a surefire way to drive positive business results.

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California Management Review

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CMR INSIGHTS

The critical link between product management and business strategy.

Image Credit | Sunder Muthukumaran

Most companies fail their strategic plan due to underestimating planning resulting in poor execution. Their focus is usually on achieving goals rather than discussing “what” and “how” to do things while exploring external opportunities and meeting customers’ needs. Managers are critical for strategy development and execution; however, research has identified less than one-third of them know the company’s strategic priorities. 1  Further, this context becomes worse when considering that managers are usually absorbed by internal issues rather than strategizing and planning execution. 2  

Related CMR Articles

“Walmart’s Emergent Low-Cost Sustainable Product Strategy” by Andrew Spicer and David Hyatt

On the other side, product managers understand business cases to improve their solutions continuously to increase value perception for customers. Several companies spend time on identifying a market fit, observing market needs, and creating value for customers toward the evolution of products and opportunities; 3   However, very few companies are connecting these to their strategic plan (for instance Walmart’s low-cost sustainable product strategy). 4   Prior research has stated a disfunction between strategy and innovation to make strategic plans happen. 5   Also, companies have struggled to deal with project prioritization resulting in a poor connection between product development and strategy priorities. 6   

Current knowledge is vast on the number of product management frameworks, but limited discussion has been devoted to connecting product management and business strategy topics. Balanced Scorecard (BSC) and Objectives and Key Results (OKR) are mainstream frameworks for the business strategy field; however, they focus on organizational processes and goals broadly. The link among products and services, organizational objectives, key performance indicators (KPI) and initiatives is still vague and unclear in the current literature. 

The Product-Objective-Initiative Cube Framework

This paper extends the current knowledge by offering a complementary view on connecting products and services to organizational objectives in a time-based perspective. By doing so, Product Managers can strategize business actions aligned to organizational objectives and customers’ needs. Also, having this on hand, it helps executives to make a meaningful link to business strategy and communicate it properly. 7   Hence, I do welcome The Product-Objective-Initiative Cube (POIC)!

The POIC framework is based on the following three steps:

• Step 1 – Creating a connection between products and objectives: In this step, it is needed to cross products (or some kind of group, like a family of products, domain, or business unit) with organizational objectives through a matrix. Then, each relationship would reflect an indicator to measure the contribution of products toward the organizational objectives. The key question at this phase is declaring the indicator to measure how products and services are contributing to reaching objectives. 
• Step 2 – Creating a view of KPI’s: The next step, required drilling down the KPIs into goals per product or service in a timeline approach. In doing so, it is possible to identify what products are contributing to the organizational objectives and who are not longitudinally.
• Step 3 – Unfolding initiatives and roadmaps: After having the connections completed, as discussed previously, managers should define initiatives to support the product or service development (if growth, sustain or decline). Further, managers must prioritize initiatives holding a continuous product delivery while creating a higher value perception for stakeholders.

While following these steps above mentioned, managers are connecting indicators of product management to organizational objectives and managing initiatives to achieve the success of corporative strategic planning. Keep in mind, that the richness part of a strategic plan is discussing what and how will be done to pursue objectives rather than defining goals only. For effectiveness, the three steps are recommended to be done through a mixing perspective – combining top-down and bottom-up approaches.

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Critical Thinking Crisis Plagues Legal Profession’s Entry Level

Law firm partners frequently tell me they are worried that associates fresh out of law school aren’t approaching legal problems with the type of analytical thinking successful lawyering requires. Is this lack of critical thinking skills a generational problem specific to Gen Z lawyers, or does the issue go back further?

Some may argue that the influence of social media created a generation of lawyers who lack critical thinking skills, while others may blame the rise of standardized testing, or even the disruption of the pandemic. I would argue it doesn’t matter.

The need for robust critical thinking skills among newer law firm attorneys today has become absolutely indispensable.

Thanks to the digital age and the proliferation of artificial intelligence, lawyers have an unprecedented wealth of information at their fingertips. Are these new lawyers being adequately trained to analyze and assess the information before them? The answer is most likely a resounding no. This instant access to information makes critical skills training for our newest attorneys even more urgent.

Critical Thinking Deficits

I have seen firsthand numerous examples of this skills gap.

Associates drafting a contract using a sample precedent agreement routinely leave provisions from the precedent that don’t belong in the new contract. New litigators draft motions that include arguments relevant to a sample motion form that are inapplicable to the current motion—then fail to include other key arguments because they’re too wedded to the sample.

Associates will often cite cases to support an argument but fail to explain exactly why the case is applicable. They expect the reader—usually a court—to make the connection themselves, in essence telling the court their client should win “because this case.” Or, associates start to mark up a document without first thinking through how much time and resources the client wants to spend, whether they even have the leverage to negotiate the positions, or the most practical approach for the size and scope of the matter.

What is the common denominator here? It’s a failure to ask “why.” Why was the provision in the precedent agreement and should it be in the agreement being drafted? Why was a certain argument made in the sample motion and does it even apply to the current case? Why did the court rule a certain way in the cited case, what facts did it rely on to reach that ruling, and how does any of this relate to the case at hand? And, finally, why am I spending time marking up an agreement without first talking to the partner about the client’s goals and resources?

In my experience working with law students and junior attorneys—as an adjunct professor and supervising attorney—this failure to ask “why” is one of the most significant stumbling blocks for an associate seeking to develop as an attorney.

Learning to Ask Why

In today’s legal landscape, the lack of critical thinking skills is an even more significant problem with more serious consequences. With widespread availability of information and AI tools at the hands of associates, the ability to ask “why” is even more urgent.

Every associate should ask themselves whether the information they just obtained through a search platform, whether AI focused or otherwise, is to be trusted. What’s the source? Is it complete? Is it accurate? Is it up-to-date? Is it sufficiently nuanced to relate to the case at hand or does it just sound like it applies?

If we assume law schools aren’t adequately training emerging lawyers to develop these critical thinking skills, what can be done once these graduates are first-or-second year associates in a firm?

It can be difficult for partners to balance training time with their workloads. This can in turn impact the billable hours of senior team members.

But training new lawyers to ask “why” and giving them opportunities to exercise and strengthen their critical thinking skills is essential. Associates will be practice-ready, bill more efficiently, and reduce the need to write-off their time.

The same partners who bemoan the lack of critical thinking skills should invest in explicit critical thinking training for new associates. In the long run, this will develop productive and successful associates, and improve the ability of our future attorneys to best serve their clients.

This article does not necessarily reflect the opinion of Bloomberg Industry Group, Inc., the publisher of Bloomberg Law and Bloomberg Tax, or its owners.

Author Information

Patricia Libby is executive legal editor at AltaClaro, an experiential attorney training platform, where she oversees all practitioner-created and instructed educational content.

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To contact the editors responsible for this story: Jada Chin at [email protected] ; Jessie Kokrda Kamens at [email protected]

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Press releases

Edwards Lifesciences to Sell Critical Care to BD

Agreement strengthens Edwards’ strategy to advance structural heart innovation

IRVINE, CA--(BUSINESS WIRE)-- Edwards Lifesciences (NYSE: EW) today announced it has entered into a definitive agreement to sell its Critical Care product group to BD (Becton, Dickinson and Company) (NYSE: BDX), in an all-cash transaction valued at $4.2 billion. With this agreement, Edwards is no longer pursuing the previously announced spin-off of Critical Care.

Edwards will use the after-tax cash proceeds to fund strategic growth investments. The sale enhances Edwards’ balance sheet flexibility for disciplined investments in technologies for aortic, mitral, tricuspid and pulmonic patients, as well as new therapeutic areas for interventional heart failure. Edwards’ goal is to build the most comprehensive structural heart disease portfolio through its pursuit of breakthrough technologies, indication expansions and world-class evidence for its surgical, TAVR and transcatheter mitral and tricuspid innovations, with the focus on helping even more patients around the world.

“Edwards’ underlying rationale for separating Critical Care remains the same: we are laser focused on pursuing a strategy centered on structural heart disease,” said Bernard Zovighian, Edwards’ CEO. “Our goal is to serve large unmet patient needs with our differentiated innovations while extending our global leadership, delivering sustainable growth and increasing shareholder value. Critical Care has made significant contributions to our company and has a long history of pioneering innovation. We believe this transaction will strengthen Edwards, Critical Care and BD, paving the way for both companies to deliver even greater value to patients.”

Critical Care will operate in Irvine, CA, and will be led by Katie Szyman, who is currently the corporate vice president of Critical Care for Edwards.

The transaction is expected to close by the end of 2024, subject to the satisfaction or waiver of certain closing conditions, including the receipt of required antitrust and foreign investment approvals. If it closes as expected, the impact to adjusted earnings per share (EPS) in 2024 would be immaterial. Other terms of the agreement were not disclosed.

Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC served as financial advisors, and Skadden Arps served as legal counsel to Edwards on the transaction.

About Edwards Lifesciences

Edwards Lifesciences is the global leader of patient-focused innovations for structural heart disease and critical care monitoring. We are driven by a passion for patients, dedicated to improving and enhancing lives through partnerships with clinicians and stakeholders across the global healthcare landscape. For more information, visit www.edwards.com and follow us on Facebook, Instagram, LinkedIn, X and YouTube.

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include, but are not limited to, statements made by Mr. Zovighian, statements regarding the delivery of additional value for patients and Edwards’ goals in structural heart innovation, the timing for the closing of the transaction and Edwards’ ability to satisfy the closing conditions, including the receipt of required antitrust and foreign investment approvals. Forward-looking statements are based on estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Our forward-looking statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of the statement. Investors are cautioned not to unduly rely on such forward-looking statements.

Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those expressed or implied by the forward-looking statements based on a number of factors. Factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include, but are not limited to: (i) Edwards and BD may be unable to close the transaction in a timely manner or at all, including obtaining required regulatory approvals and satisfying other closing conditions, which may materially and adversely affect Edwards’ business and the price of Edwards’ common stock; (ii) uncertainty as to the timing of closing of the transaction; (iii) the occurrence of any event, change or other circumstance that could give rise to the termination of the purchase agreement; (iv) risks related to disruption of management’s attention from Edwards’ ongoing business operations; (v) the effect of the announcement or the pendency of the transaction on Edwards’ relationships with its customers, operating results and business generally; (vi) potential significant transaction costs associated with the transaction; (vii) the outcome of any legal proceedings or regulatory actions to the extent initiated against Edwards, BD or others related to the transaction; (viii) the ability of Edwards to execute on its strategy and achieve its goals and other expectations after the closing of the transaction; (ix) legal, regulatory, tax and economic developments affecting Edwards’ business; (x) the unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities or current or future pandemics or epidemics, as well as Edwards’ response to any of the aforementioned factors; and (xi) other risks detailed in Edwards’ filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2023, and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024. These filings, along with important safety information about our products, may be found at Edwards.com .

Media Contact: Amy Hytowitz, 949-250-4009 Investor Contact: Mark Wilterding, 949-250-6826

Mark Wilterding (SVP, Investor Relations)

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