As there is a very high number of job vacancies in the role of product management, The 5i Framework was created to standardize the abilities that Product Managers are supposed to have.
5i – Ideate, Innovate, Implement, Industrialize and Improve.
Ideate: It’s not about coming up with great ideas idea; it’s about visualizing the product’s journey from conception to market saturation.
Innovate: With an idea and not any concept on paper, it is accompanied by the product’s unique selling proposition (USP).
Implementation: Product design necessitates vision, while design efficiency necessitates validation by the industry. Engineering from the bottom up ensures that product development consumes the least amount of time and resources possible.
Industrialize: It’s one thing to go to the market. Keeping up with demand is a very different story. If there isn’t a deep understanding of scalability, a product may break under its own weight.
Improve: A product’s ability to drive market growth through data-driven decision-making makes or kills it. The elixir of a product’s longevity is continuous improvement.
Using the 5i Framework to focus on improving Product Management abilities is a sure-fire way to achieve success in the field.