Salary for position Head of product development in Sri Lanka

What kind of work does Head of product development typically do

• Define and drive the product development strategy aligned with the company's overall goals and market trends.
• Lead and mentor a diverse team of product managers, designers, engineers, and other specialists to ensure collaboration, creativity, and efficient project execution.
• Foster a culture of innovation by encouraging the generation of new product ideas, features, and improvements based on customer feedback and industry insights.
• Develop and maintain a comprehensive product roadmap that outlines key milestones, timelines, and resource allocation for the entire product development lifecycle.
• Collaborate closely with marketing, sales, operations, and other departments to gather input, align strategies, and ensure successful product launches.
• Oversee the quality control process, ensuring that products meet or exceed customer expectations and adhere to relevant quality standards.
• Identify potential risks and challenges in product development, implementing mitigation strategies to minimize disruptions and delays.
• Stay informed about market trends, competitive landscape, and customer preferences to inform product strategies and enhance market positioning.
• Manage the product development budget, making informed decisions to optimize resource allocation and maximize return on investment.
• Establish and track key performance indicators (KPIs) related to product development, using data-driven insights to continuously improve processes and outcomes.