Almost all fields, including construction, business technology, and engineering require professional management. This is the duty of Project Managers. Project Lifecycle Management or PLM courses are designed to create these Product Managers. Simply put, PLM courses are degree programs that intersect business, communication, and leadership for better management goals. If you are a person with a keen eye for detail and a proclivity to perfect organisation, this field is for you. Continue reading this blog to learn more about Product Management and PLM courses.
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Traditional Product Development Process
The traditional product development process is not streamlined and is sometimes tedious. In a traditional product development process, there are three teams involved: the engineering, marketing, and business development teams. However, they do not seamlessly collaborate. This leaves money on the table for stakeholders, and the end user is robbed of a more efficient product. The engineering team should design the product with the marketing and business development teams’ functions in mind (i.e., showcasing the product strategies and user-business connection strategies) and vice versa. This is the ability that is missing in the traditional product development process.
Duties of a Product Manager
Unlike the traditional product development process, the current process, with the help of product managers, is streamlined. Therefore, the engineering, marketing, and business development teams can work effectively to help each other. An ideal Product Lifecycle Management or PLM course sculpts out professionals in this regard. Following are some of the product manager duties that students will get good at after completing PLM courses.
- Market monitoring and competition research.
- Understanding the needs of the user.
- Representing the user's needs through the product.
- Constructing a quantifiable vision for the product.
- Aligning the vision of the stakeholder with the vision of the product.
- Engaging in product capabilities and features
- Setting up a shared understanding of the product and its vision.
- Empowering independent decision-making.
- Creating shared knowledge of the product across teams
- Ensuring collaboration across teams
Benefits of Studying PLM Courses
01. Understand Collaboration
Like it is said above, one of the key values that a PLM course brings is that it educates students on methods to strengthen the collaboration between internal teams. The engineering, marketing, and business development teams urgently need to have effective communication to create a fantastic product. Each individual team may be a stranger to the other's jargon and processes. With PLM courses, students can understand collaboration and set up communication between teams to reap the maximum benefits.
02. Develop Integrated Skillset
PLM courses just don't stop at teaching students the technical terms and an overview of the process, it also makes them experts in the process. As product managers, students will be required to conduct functions such as market research and user study, which is a business development duty. Much like that, the product managers also need to be involved in the marketing and development part of the process and, at times, actively contribute.
03. Setting roles, boundaries, and expectations
Aside from bringing different teams together, students will also create roles and boundaries for every party involved. This eliminates the chance of ambiguity in the product development process. PLM courses teach students methods to eliminate ambiguity with roles and boundaries, and it also teaches to improve the process with clearly defined expectations. Students learn to construct a system so that each team's (engineering, marketing, and business development teams) function is informed and helps the other.
04. Business Leadership and Success
Product Managers are at the helm of every product development process. Their duty is not only to manage the process but also to lead it. Therefore, product managers need immaculate leadership skills. PLM courses develop leadership skills in students and also prepare them for the possibilities of success or failure in the product development process.
Undergraduate PLM Courses under 20,000 USD
The following table consists of PLM courses with an annual tuition fee of $20,000 (USD) or below. The table also informs about the universities (where the PLM courses are provided), the location of universities, and the duration of the PLM courses.
The following table consists of PLM courses with an annual tuition fee of $20,000 (USD) or below. The table also informs about the universities (where the PLM courses are provided), the location of universities, and the duration of the PLM courses.
|
Course Name |
University |
Location |
|
Federation University Australia |
Melbourne, Australia |
|
|
Bachelor of Business (Advanced Business Leadership) |
Western Sydney University |
Sydney, Australia |
|
Bachelor of Business (Advanced Business Leadership)/Bachelor of Laws |
Western Sydney University |
Sydney, Australia |
|
Bachelor of Business - Bachelor of Psychological Science - Management |
James Cook University |
Townsville, Australia |
|
Swinburne University of Technology |
Melbourne, Australia |
|
|
Bachelor Organizational Leadership |
University of Memphis |
Tennessee, United States |
Read More: Affordable Universities in Australia for International Students
Undergraduate PLM Courses above 20,000 USD
The following table consists of PLM courses with an annual tuition fee of over $20,000 (USD). The table also informs about the universities (where the PLM courses are provided), the location of universities, and the duration of the PLM courses.
|
Course Name |
University |
Location |
|
Flinders University |
Adelaide, Australia |
|
|
Bachelor of Business (Management) |
Kaplan Business School |
Brisbane, Australia |
|
Bachelor of Business (Management) |
Melbourne Institute of Technology (MIT) |
Melbourne, Australia |
|
Canterbury Institute of Management |
Sydney, Australia |
|
|
Murdoch University |
Perth, Australia |
|
|
Queensland University of Technology |
Brisbane, Australia |
|
|
Bachelor of Teaching (Middle)/Bachelor of Business Management |
The University of Adelaide |
Adelaide, Australia |
PLM Masteral Courses
The following table consists of PLM masteral courses abroad that are very accessible to Filipino students. The table also provides the course duration, fees, universities at which the PLM masteral courses are provided, and the location of the universities.
|
Course Name |
University |
Location |
|
The University of Sydney |
Sydney, Australia |
|
|
Master of Management |
University of South Australia |
Adelaide, Australia |
|
Master of Arts (M.A) Administration and Leadership |
La Sierra University |
California, United States |
|
University of the Sunshine Coast |
Brisbane, Australia |
|
|
University of Technology Sydney |
Sydney, Australia |
|
|
University of Regina |
Saskatchewan, Canada |
|
|
Management MSc |
University of Bedfordshire |
Luton, United Kingdom |
|
The University of Adelaide |
Adelaide, Australia |
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Frequently Asked Questions
The 5 stages of a product life cycle are:
- Product development
- Market Introduction
- Growth
- Maturity and Saturation
- Decline
