Knowledge Sharing - Project Management vs. Product Management

Knowledge Sharing - Project Management vs. Product Management


Projects vs. Product (0.0.1.3.P1)
Projects are the way that most new work gets delivered. All projects have certain characteristics in common.
• They all have a beginning and an end.

• All projects are unique. They may be similar to prior projects but they are unique in terms of timeframes, resources, business environment, etc.
• Projects result in the creation of one or more deliverables.
• Projects also have assigned resources - either full-time, part-time or both.
There are other characteristics as well.

Projects can be managed using a common set of project management processes. In fact, a similar set of project management processes can be utilized regardless of the type of project.

For instance, all projects should be defined and planned, and all projects should have processes to manage scope, risk, quality, status, etc.

Products on the other hand, are tangible items that are produced by a project, or perhaps purchased from a vendor. (The vendor would have created the initial product through a project.)

Project management can be thought of as a process. A product is delivered by a project. “Product management” is an approach for centrally coordinating the activities surrounding the long-term support and enhancement of a product. The person that executes these responsibilities is called a Product Manager.

The product management process can start during the project that created the product. If you purchased the product, the product management process can begin when the product is purchased, or a little earlier in the product evaluation and selection process.
Product Management (0.0.1.3.P2)

The role of a project manager is to plan and manage a project. The role of a product manager is focused on the long-term support of the product within the organization.

For the purposes of the following example, you should assume that the product is a third-party tool. (If your product is created internally, you may not have the vendor responsibilities described below.) The product management role is as follows.

• Product Planning

o Coordinate product issues and all communication as the primary contact with the product vendor
o Monitor product direction with the vendor and communicate this information to company stakeholders

o Determine which components of the product should be used in the organization
o Identify opportunities for use of the product
• Testing

o Coordinate testing of new products and releases, including coordinating pilots with potential product users
o Determine when a product is “production-ready” based on testing and pilot projects
o Coordinate certification of new products and releases
• Financial Management
o Coordinate negotiation of product contracts, purchase agreements, and maintenance agreements

o Ensure that budget is available for product purchases and maintenance
o Determine when to consider canceling or reducing maintenance payments based on product direction
• Product Implementation and Deployment
o Coordinate development of a product deployment plan

o Manage and monitor the deployment of the product or new releases
o Deploy (distribute) the product
o Track product inventory (where the product has been deployed)
o Receive ongoing requests from the staff for individual product deployment

o Integrate and add new products and releases into the architecture
• Product Release Management
o Decide when to upgrade to a new release
o Plan and manage new release implementation
o Ensure new releases get added into the architecture if required
• Product Retirement

o Determine when product needs to be retired
o Plan and manage product retirement
o Retire (uninstall) the product from the environment
o Ensure product gets removed from the architecture

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