In today?s competitive markets it is of ut-most importance to have winning products. The success of any product depends on skill-full and competent product managers. He acts as a business-owner in the small. Product management is the discipline and role, which governs a product (or solution or service) from its inception to the market/customer delivery in order to generate biggest possible value to the business. The product manager is a "mini CEO" representing the enterprise or business unit in strategy definition and operational exe-cution. The product manager aims at having the right product mix and selecting the right projects to implement a given strategy. He evaluates his products or product releases with respect to their overall contribution to busi-ness success. He makes use of the product life cycle to revisit assumptions and implement decisions.