Organizations looking to implement a product management function must follow the right approach to get buy-in and set up the function so that it can deliver value. Forrester recommends a four-step process to define the role’s value, clarify responsibilities, establish the function, and demonstrate quick wins. Following these steps allows the organization to realize product management’s benefits and puts the function — and its leader — in a good position to grow and succeed. In this report, we describe the four initial steps required for an organization to establish a product management function.