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What does a product manager do?

What does a product manager do? How about approaching it by talking about what we can help our business achieve. By using a consistent process & discipline, product management improve the chances of product success. In any market there is a a product failure rate. According to Mckinsey, this is between 25 – 45%. So an effective product manager will significantly reduce product failure rate, maximizing the return on development investment for their organisation.