- 1. What Is Product Management?
- 2. What Is a Software Product?
- 3. Software Product Manager
- 4. Product Owner
- 5. Product Management Life Cycle
- 6. Product Management Roadmap
- 7. Product Management Software and Tools
- 8. Product Backlog
- 9. Product Management OKRs
- 10. Product Requirements Documents
- 11. Product Management Metrics and KPIs Explained
- 12. Product Analytics
- 13. Comprehensive Guide to Lean Product Management
- 14. Best Product Management Resources for Product Managers
- 15. Practical Product Management Templates
- 16. FAQ
- 17. Glossary of Product Management Terms
- 1. What Is Product Management?
- 2. What Is a Software Product?
- 3. Software Product Manager
- 4. Product Owner
- 5. Product Management Life Cycle
- 6. Product Management Roadmap
- 7. Product Management Software and Tools
- 8. Product Backlog
- 9. Product Management OKRs
- 10. Product Requirements Documents
- 11. Product Management Metrics and KPIs Explained
- 12. Product Analytics
- 13. Comprehensive Guide to Lean Product Management
- 14. Best Product Management Resources for Product Managers
- 15. Practical Product Management Templates
- 16. FAQ
- 17. Glossary of Product Management Terms
Product Management vs. Project Management
What Is the Difference Between Product and Project Management?
Project and product management are mission-critical for organizations of all sizes but are distinct in their nature and scope.
Let’s check out the fundamental differences between product management vs. project management.
Difference between a product and a project
Before proceeding further, let’s understand the distinction between the two core words — project and product.
Product definition
- A product is a concept that solves the needs of a specific target audience
- Products go from an idea to development, testing, launch, and retirement in the multiple stages of the product life cycle
- A product is designed to meet specific customer needs
Project definition
A project is a particular endeavor undertaken to deliver a specific product/service within a scheduled timeline.
- Project specifications are clear, defined, and laid down before the project work starts
- Project teams work towards specified deliverables within predetermined schedules and budgets
Product management vs. project management
Let’s review the core differences between product management vs. project management.
Product management
Product management is a business function that manages a complete product life cycle, from ideation to retirement. It doesn’t have a predefined timeline and is based on the product’s growth trajectory.
Product managers drive product conceptualization, design, development, testing, and market launch and ensure that customer needs are met.
Project management
Project management is an organizational function that creates and executes a product or service. The entire project management process has a predetermined timeline and is a one-time exercise. The project is completed once the product or service is delivered to the customer.
Project managers supervise the five core stages: initiation, planning, implementation, monitoring, and closure.
Product manager vs. project manager
Now that we’ve evaluated project management vs. product management, let’s discover the differences between the roles of a product manager and a project manager.
Product manager
A product manager takes ownership of the product from start to finish. Their key responsibilities include creating the product strategy, designing a roadmap, and engaging with stakeholders.
They utilize their in-depth product knowledge and understanding of business requirements to solve end-user needs.
Project manager
The project manager carries out the product vision and roadmap created by the product manager. They work closely with the team in the implementation phase to create work schedules and supervise the execution of crucial tasks.
Project managers guide the project towards its successful completion while managing the team to ensure high-quality, on-time deliverables.
Get a free trial of Wrike to set and prioritize goals, boost team collaboration, and deliver successful projects and products every time.
Anna Grigoryan
Anna is a Director of Product Management at Wrike and a seasoned product leader with over 15 years of experience in the tech industry. She has successfully led multiple engineering teams, ensuring the delivery of high-quality products featuring mobile and web experiences, seamless integrations with other platforms, and innovative white-labeled solutions.
Product Management Team And Roles
- Product Management Hierarchy
- Product Management Team and Roles
- Role of a Product Management Lead
- Role of a Product Management Specialist
- Product Manager vs Software Engineer
- Technical Product Manager vs Product Manager
- How to Become a Product Owner
- Project Manager vs Project Owner
- Importance of The Product Owner