Well, before I get started in depth into the topic, I want you guys to remember project management is considered part of product management. Product management is the entire thing.
Well, product management encompasses or includes the strategic planning, development and life cycle management of a product or service.
So when you say you're a product manager, you're involved in managing the life cycle of the entire product from the moment the company thinks about it till it dies, it involves understanding the market
So it says market market needs defining product strategy. So product strategy is how we're going to build it, how we're going to release it. Gathering requirements.
Now it says overall success of the aligning it to business objectives, business objectives is always going to be about making money. All right. Let's be realistic.
So what exactly is project management?
So our project managers, we focus on the successful execution and delivery of specific products within a defined scope timeline and budget.
Project manager is responsible for planning, so we're going to plan how to build it. We're going to coordinate all the activities while building it, and we're going to manage them to achieve the scope. The goal here is completed on time, within budget and of course, meeting any quality standards that would have been set up.
The other thing here that we want to talk about is that product managers work closely with project managers.
If you're a project manager, don't be surprised if your boss is a product manager.
So we work closely together to ensure that the product strategy, which is going to be built to design and release it.
Project managers oversees the execution of those plans to design it to to develop it, to launch it, ensuring the product is developed, tested according to the plans and specifications.
Product management is a very big category. It's a whole field of study by itself.
remember product management is the entire lifecycle of the product from conception or taught about to designing and building it, launching it, eventually retiring it or disposing of it. And within the lifecycle of the product you have many, many projects. So it's a project manager. We're going to work within the lifecycle of product management.
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