Product Management is managing the method of a product throughout the lifecycle from the strategizing. Design, and development, to the branding of the merchandise. Product is an objective or a kind of system that is available for consumer use or those objectives that can be offered to a market to satisfy customer’s needs.
- Deals with the all-around needs of a product.
- Focuses on build up the value of the product.
- The Product manager owns the “What”
- Must be good at marketing Research and strategic thinking
- Brings the idea into the marketplace
- Deals with external market operations
- Manages the product till its complete success
Responsibilities of a Product Manager
- Manage the product throughout the lifecycle
- Strategizing products
- Creating customer value
- Building Roadmaps
- Specifying functional requirements
- Manage the development
- Manage the branding of the product
Skills of a Product Manager
- Strategic Thinking
- Leadership Skills
- Time Management
- Empathy Skills
- Communication skills
- Analytical Skills
- Presentation skills
- Customer Orientation
- Self Confidence
Project Management is defined as the process of planning and organizing the resources of the company to complete a specific task. Project management plays the identical role irrespective of the belonging industry. A project is a series of activities or tasks that is required to gain an expected result with some deadline.
- Deals with applying Techniques to a particular project.
- Focuses on work coordination.
- The Project Manger owns the “How”
- Must be good at planning and budget and organizing.
- Uses specific skills to deliver a valuable product
- Deals with internal operations of an organization
- Manages the project till it’s delivered to the customers
Responsibilities of a Project Manager
- To optimize distributed essential intakes
- To finish the project on time
- To manage the performance of the team
- To manage proper communication and coordination in the team
- To achieve the goal and objective of the project within the given time
- To meet the customers requirements and make them happy
Skills of a Project Manager
- Method knowledge
- Risk Management
- Management Tools
- Cost Management
- Critical Thinking