HomeBlogProject ManagementA Perspective Of Project Management And Product Management
For those who have had experiences working as a project manager, the concepts and activities of project management come very natural. Project management practices have been around since ancient times. As early as 2570 BC, there were records of project managers doing the planning, coordination, and construction for the Great Pyramid of Giza. The history of modern Project Management is said to have started around 1950.
Today, it is largely popularised by accredited bodies such as the Project Management Institute (PMI®️) - Project Management Body of Knowledge, PRINCE2®️, etc. The best PMP online training course is a promising start to attaining a higher salary in the project management profession.
Interesting things to know about Product Management
Top Cities where KnowledgeHut Conduct Project Management Certification Training Course Online
Comparison of Project and Product Management
According to Blackblot Product Manager’s Toolkit (PMTK) Methodology, “Product Management is an occupational domain which contains two main disciplines. They are the-
a) Product Planning and
b) Product Marketing.
Product Planning is focused on knowing the customers well and being the advocacy of the customer. It is an ongoing process of identifying and articulating market requirements that defines a product’s features set. Product Marketing is about knowing the business value of the product. They refer to activities aimed at generating products awareness, product differentiation and demand.”
In the same context, PMI’s definition of Project Management refers to “the application of several techniques, skills, knowledge and tools to ensure that the project is able to meet the requirements.”
| Project management | vs | Product management |
|---|---|---|
| Project Knowledge base | Product Knowledge base | |
| Project Portfolio analysis | Competitive analysis | |
| Project Charter | Product Portfolio analysis | |
| Project management plan | Market strategy plan | |
| Task breakdown structure | Market requirements documents | |
| Earned value analysis | Product requirement documents | |
| Feasibility study | Product business case | |
| Communication plan | Product roadmap | |
| Procurement plan | Technology roadmap | |
| Quality assurance plan | Launch plan | |
| Risk management plan | Marketing plan | |
| Status report | End of product life plan |
Also, the Product Manager should take on the roles of a business analyst in articulating and defining the requirements to the product team. He/She should also be a marketing specialist to promote the product and be responsible for driving usage and awareness. An important role of the Product Manager is also determining which features to roll out first and the time-to-market for the product. These skills are even more relevant in an Agile environment where there are multiple software releases and the role of a product manager is important in ensuring that the team is “building the right product”.
Lets see the comparison between the Project and Product management in the tabular form.
Advance your career to new heights with our PRINCE2 Foundation training course online. Achieve certification and take your project management abilities to the next level!
A Project Manager’s responsibilities is to organise the team to deliver the project requirements within the approved budget and resources given. The Project Manager is focused on the process and the application of the right tools and method to complete the predefined task or assignment within a certain timeframe. The Project Manager role is to ensure that the team is “building the product right”.
Hence in summary
While transitioning from the project manager role to product manager, you need to keep one thing in mind-
A Project Manager’s role is to ensure that the team is ‘building the product in a right way’. Whereas, a Product Manager’s role is to ensure that the team is ‘building the right product’.
In essence, a Product Manager should work closely with a Project Manager to ensure better synergy and success in the implementation of the project or product. The project management and the product management roles do not overlap one another, but complement each other. Both perform different functions and work hand-in-hand to ensure the delivery and success of the implementation of a project or product.
| Name | Date | Fee | Know more |
|---|
