What is a Product Owner? | Job Description, Salary & Qualifications

A Product Owner’s role is a versatile one and is matched to an individual who has a strong input in all aspects of bringing the concept of a product into reality. Whether dealing with goods or services, the Product Owner will need to liaise with various interested parties, including designers, marketers, and departmental managers. This is a varied role and one that brings with it several tangible rewards.

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Duties and responsibilities - What does a Product Owner do?

As a Product Owner, your duties and responsibilities are crucial in ensuring the success of any product development project. At the core of your job description you are accountable for defining the next new product to be developed and communicating the product vision to the team and business stakeholders to ensure everyone is on the same page.

Product Owners must understand the product development process. This involves clearly defining the product goals, user stories, features, and scope, taking into consideration market trends, customer needs, and business objectives. Those considering a career as a product owner should consider gaining at least some basic knowledge in software development.

Other Product Owner responsibilities

Another key responsibility, as a Product Owner, is dealing with potential product backlogs to streamline existing and future timelines. This involves prioritising features and requirements, and working closely with the development team to ensure that the product roadmap is achievable and aligned with the overall business strategy.

Accurately and efficiently managing the prioritisation of various projects and constantly monitoring the subsequent turn of events is also part of your role. You must be able to adapt to changing priorities and make informed decisions to keep projects on track and ensure that resources are being utilised effectively.

Communicating the product vision to others is essential to ensure that everyone involved understands the objectives and the value of the product. You will need to oversee all stages of development, as part of your job description, from ideation to release, and work closely with the development team to ensure that the product is being developed according to the vision and meets all requirements.

Working alongside clients to ascertain their specific needs and conveying their wishes to the team is another critical task. This involves listening to their feedback, interpreting their requirements, and translating them into actionable items that the development team can work on.

Finally, taking responsibility for all stages of the product realisation process and monitoring consumer reaction to new releases is a significant part of the Product Owner’s role. You must ensure that the product is meeting the needs of the target market and is aligned with the company's business objectives. This involves conducting regular market research, analysing customer feedback, and making necessary adjustments to the product to ensure its success.

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What qualities are needed to be a successful Product Owner?

Successful Product Owners not only have technical skills but are also highly motivated individuals who have something of a sixth sense when it comes to understanding the needs of the market. They will need to be highly flexible in their approach, able to think on their feet and adept at communicating their visions to others, including both end users and senior management.

In many cases, new products that hit the ground running and prove to be exceptionally popular can become almost obsolete in just a year or two, so Product Owners will always be thinking about what comes next. They combine the skills of traditional Business Analysts and Project Managers and mould them into a powerful force for constant change.

Communication skills are essential to ensure that everyone involved understands the objectives and the value of the product. You will need to oversee all stages of development, as part of your job description, from ideation to release, and work closely with the development team to ensure that the product is being developed according to the vision and meets all requirements.

It is important for Product Owners to provide a crucial link between all stages of a product’s development, so they need to be equally adept at listening as they are at talking. The direction that a product takes on its journey, and the growth that results from it, are key to the success of the Product Owner.

Qualifications and technical skills - How to become a Product Owner?

Technical skills are still important for an IT Product Owner as they are for other roles. The more knowledge one possesses of relevant applications will be a big help to a candidate. They include examples of scrum and agile project management applications and processes, for example, as well as UX/UI, programming, networks, and cloud computing. Technically sound rather than technically expert would be the best describe of the requirements in the role of project owner.

Strong academic background will help with applications, but employers in many cases are looking more for the right personality rather than the right qualifications.

Gaining relevant certifications is important and well regarded by employers. There are globally recognised certifications available to effectively manage a scrum team, be an agile product owner, or be a scrum product owner.

A university degree in any subject will sometimes be a requirement, but this isn’t always the case. Experience in similar roles will also be seen as a major benefit to the candidate.

Career development - What is the next step after Product Owner?

Mapping out a career path after being a Product Owner can be interesting. There are several excellent roles which could become a possibility, including those of Senior Product Owner, Scrum Master, Lead Product Manager, Portfolio Manager, Product Director and Chief Product Officer.