What is the difference between a Project manager and a Product Manager?

Product Management

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

1. Manage the product throughout the lifecycle
2. Strategizing products
3. Creating customer value
4. Building Roadmaps
5. Specifying functional requirements
6. Manage the development
7. Manage the branding of the product

Skills of a Product Manager

1. Strategic Thinking
2. Leadership Skills
3. Time Management
4. Empathy Skills
5. Communication skills
6. Analytical Skills
7. Presentation skills
8. Customer Orientation
9. Self Confidence

Project Management

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

1. To optimize distributed essential intakes
2. To finish the project on time
3. To manage the performance of the team
4. To manage proper communication and coordination in the team
5. To achieve the goal and objective of the project within the given time
6. To meet the customers requirements and make them happy

Skills of a Project Manager

1. Method knowledge
2. Risk Management
3. Management Tools
4. Cost Management
5. Adaptability
6. Critical Thinking