Project managers and product managers are two of the most vital positions within any organizaion. These two roles are commonly confused in the work place. It is understandable because some of their roles overlap like leadership and excellent time management. Even though both of these roles share some of the same duties, at their core they differ. Product managers understand and set the creative direction most times for a product that needs to be built, while project managers on the other hand takes that vision and turns it into a reality. In order to fully understand the difference between project managers and product managers, we must first understand the difference between a product manager vs project manager.
Is There A Difference Between A Project And A Product?
Yes, there are a few key differences. A product can be anything like a tangible product, or a software or service you provide. A product is developed before going out into the marketplace. Once it is out there, that product is grown into acceptance until it matures and dissipitates when there is no longer a need for that product.
A project on the other hand is a one-time-attempt at creating a product or service. There is a clear start and end date on this project. You also typically have a clearly outlined objective and outcome.
Above all, the thing that differentiates a project versus a product is the time it takes to complete it. A product is not temporary like a project is. The goal of a product is for it to keep needing its use, therefore it is constantly evolving and changing.
Product Manager
Product managers are essentially the final word when it comes to the overall product direction. Their main responsibility is to have a firm grasp on the user’s needs, render those needs into a design or minimal variable product and then lead a team that will help develop and build the product. You must also have a very intimate knowledge of the product. You have to know the best timing for product testing and product releases. Product managers also work very closely to the marketing, sales, customer service and customer support because they are held accountable for the profit and loss function of the product.
Project Manager
The main responsibility of a project manager is the execution of creating a product. They collaborate with the product manager to understand the vision of the product. From there they create a timeline and set goals for the development team to accomplish in order to take the product from an abstract concept to a tangible reality. Project managers have to do all of this while staying within budget as well as keeping the timeline. In order to do this effectively, they have to keep an eye out for potential risks that could harm the timeline of putting out the project and how to reduce those risks. They may also have assign certain tasks to team members.