Hello everyone it’s a pleasure to welcome you to our new post where we will understand the difference between a product manager and a project manager. if you are also the one who is seeking to start a career in management but is confused,
but between what to choose being a product manager or a project manager then simply run can help you clear your confusion. as this post will give you a clear idea of both the rules the product manager and the project manager so without any further delay let’s move ahead in our session,
what is the product and product management? what is project and project management? moving forward we will understand who is a product manager and a project manager following that we will take a look at the difference between a product manager and a project manager.
next, we will have a detailed look at the roles and responsibilities and the skills required to start a career as a product manager and a project manager for choosing any professional career it is important to have certified knowledge of that profession.
so we’ll also take a look at the certifications required for both product managers and project managers we’ll also talk about how a product manager and a project manager work together and stick till the end because we’ll wrap up this session by talking about the salaries of a product manager and a project manager so without any further delay let’s get started and know.
What is the product?
a product is offered to deliver its services to the users by putting efforts to be produced for example google maps for directional services it can also be defined as a tangible item that an alliance create to serve the customer’s need. for example uber for taxi services.
a product is designed to create customers value by solving their problems with convenient evolution and it doesn’t have any explicit life cycle and has more permanence which means that the product doesn’t have any fixed end date and needs continuous discovery and development.
What is product management?
now let’s understand what is product management so product management is managing the process of the product throughout the life cycle from strategizing designing and development to branding of the product the product management involves strategizing products to enhance the profit of the business.
creating customers value creating road maps to get a clear idea of how to design and develop the product specifying functional requirement and creating blueprints and development of the product as per the requirement,
and once the product is developed it is necessary to take customers feedback, and then only the price of the product is finalized now that we have an idea of product and product management let’s take a look at.
What is a project?
a project is something that results in the product as an outcome it is a fleeting effort commenced to construct a remarkable product or service it can also defined as the process of providing services to the user by focusing on scope resources and quality of the output all the products have a team to work on a budget to complete the task under a specific amount a schedule to follow.
and some expectations to meet the need of the customers we can also determine a project as the process of executing a plan which involves taking the requirements of the customers and building the solution projects are the temporary efforts to meet the need of the business to organize by providing services to the user. now let’s move further and understand,
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so 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 same role irrespective of the belonging industry it is the rule that specifies the product of an organization the main objective of project management is to determine the goals and objective of the project.
it also creates a quality assurance check to ensure the standards of the project it is the approach of applying skills and techniques to complete a project as per customers requirement and it helps to get a predictable project planning and execution process.
the primary constraints of project management are time post scope and quality. now let’s know more about product and product managers so let’s move further and understand.
Who is a product manager?
a product manager is a person in an organization that is responsible for product development as per the customer’s requirement the manager allows the task through the development team and manages the coordination regarding the product developed between the customers and the developers.
the product manager monitors the product and the market and develop the competitive analysis the product manager is an association between the business developers and the users of the product.
Who is a project manager?
now let’s understand who is a project manager, a project manager is an individual who plans and organize the resources needed for the project and looks after the specific need of a project of an organization the product manager determines the goals and objectives of the project by approaching skills and techniques needed to complete a particular project.
the project manager helps to get a predictable project planning and execution process the primary task of a project manager is to determine the scope of the project by using different methodologies of product management for example agile, scrum, prince2, etc the manager leads.
the project throughout the life cycle of the project from initial to planning to executing term monitoring and controlling to closing of the project.
Product manager V/S Project manager
now let’s move further and understand the difference between a product manager and a project manager the product manager deals with the all-around needs of the product from strategizing to branding of the product on the other hand the project manager deals with applying techniques to complete a particular project.
the product manager focuses on building up the value of the product but the project manager focuses on work coordination the product manager owns the what and the project manager owns the how the product manager must be good at market research and strategic thinking whereas,
the project manager must be good at planning and budget organizing the product manager brings the idea related to the product into the marketplace on the other hand the project manager uses specific skills to deliver a valuable product the product manager deals with the external market operations whereas the project manager deals,
with the internal operations of an organization the product manager manages the product till its complete success whereas the project manager manages the project till it’s delivered to the customersso far we have understood about product managers and project managers so here’s a question for you guys what is another title for a project manager do let us know in the comment section below.
Responsibilities of product managers
now let’s take a look at the responsibilities of product managers the product manager manages the product throughout the life cycle from initial stage of planning to the final stage of complete success of the project the product manager strategize the product by planning for the particular product,
it’s the product manager’s responsibility to create customers value by fulfilling the customer’s requirement for a product and the manager builds the roadmap for a product following which the product is created the manager manages the specifying functional requirements to lead the team about the product.
and the manager continuously manage and monitors the development of the product and once the product is approved it is sent out in the wild for branding and launching into the market.
Responsibilities of project manager
let’s proceed and know the responsibilities of project manager the project manager evaluates the initial intakes that are necessary for a project to finish the project on time you know the project manager make sure that the project is delivered to the customers on time.
to manage the performance of the team by continuously monitoring and controlling the work in the team to manage the proper communication and coordination in the team to achieve the goal and objective of the project within the given time period.
to meet the customer’s requirements and make them happy for being a product manager one must have all the skills that are required for the profession.
Skills of a product manager
so let’s know what are the skills that are necessary to thrive in product management skills that are necessary for a product manager are.
- strategic thinking. the manager must be able to plan a successful future for the product.
- leadership skills the manager must have the skills to lead a group of the people working together to achieve a common goal.
- time management the manager must be good at managing the time and complete the task under the given time period.
- empathy skills the manager must be able to understand the employee’s mindset and thinking.
- communication skills the manager must be able to communicate easily with others in order to understand the other person and make him understand his own perspective.
- analytics skills the manager must have the ability to gather information about the product and analyze the information by having a market research about that.
- presentation skills the manager must be good at presenting his thoughts in a creative and attractive ways.
- customer orientation the manager must know how to put the needs of the customers over the needs of the business.
- self-confidence the manager must have self-confidence because only then he or she will be able to lead the team.
Skills necessary for a project manager
- now let’s know what are the skills necessary for a project manager the skills that are necessary for a project manager are the project manager must have a good knowledge of project management methodologies for example waterfall agile, scrum, prince2 and many more.
- risk management the manager must be able to identify and control the threats or to the organization’s earning and capitals basic knowledge of project management tools the manager must have the basic knowledge of project.
- management tools for example dashboards reporting timesheets and many more.
- cost management the manager must be good at managing the project cost to provide maximum benefits to the organization.
- adaptability to become a manager one must be able to adjust to different conditions and circumstances.
- critical thinking the manager must be able to think rationally and understand the logical relationship between the ideas.
Certifications for a product manager
now let’s move on and know what are the certifications available for a product manager the certification that fits best for product managers are.
Product school product management certification
the product school offers two types of product management certification one is product manager certification and the other one is senior product manager certification the product manager certifications help learners to learn how to build digital product end-to-end from discovery to optimization and to develop a portfolio project with the help of your instructor.
and the senior project manager certification assist the product managers to enhance your technical hard skills and learn to leakage advantage to make informed decision and build strategic skill set to help guide your team in context of the marketplace.
Pragmatic institute project management certification
the certification concentrates on defining the roles and responsibilities focuses on the right feedback from the right sources and building buyers products it also pledges the product managers will accumulate functional skills tools and templates in the field of management.
the institute has its branches in over 50 plus countries and have over 10,000 plus hiring companies covering the top most MNCs as well the institute provides provision methodologies adaptable resources battle-tested strategies and the world-class support to the organizations.
Simply learn professional certification in product management
simply learns professional certification and product management is one of the top four worldwide certified programs in product management this course is in partnership with sp jan school of global management
and involves four months of rigorous life training with sp Jan top facilities across Australia, Dubai, and India along with live sessions from top product leaders this program prepares you to become a product manager via an exhaustive curriculum covering all the aspects of management and educates you on the latest industry trends advancements and related industry applications from top products experts via live sessions.
the program provides a 150 percent salary hike and is connected with 2,900 plus hiring partners the program will take you towards product strategy new product ideations product development product lifecycle management designing thinking UI UX and,
many more different concepts of product management the top companies that are hiring product managers who are the simply learn product management course are Amazon Microsoft google IBM adobe LinkedIn Deloitte airbus and many more.
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Certifications for project managers
now let’s take a look at the certifications available for project managers the certification data fits for project managers are.
- project management professional that is pmp project management professional is an international acknowledged professional designation proposed by the project management institute gaining a pmp certification can help you an acquisition in your professional and personal growth. the pmp certification can help you showcase your skills and get you to work globally recognized it allows you to prove your experience and competence to lead and direct.
- projects PMI agile certified partitioners the PMI ACP training empowers you to become a skilled agile professional with knowledge of a broad range of agile methodologies hcp is PMI’s fastest-growing certification and recently ACP PMI has been updated with additional of agile practice guide.
- certified association in project management the certified association in project management is a vendor-neutral entry-level certification to help individuals formulate project management skills it is one of the several certification issued by the non-profit project management institute that is pmi.
- certified scrum master the csm certification course is focused on providing an improved understanding of scrum methodologies and their implementation it helps you to become a certified scrum master a designation offered by scrum alliance to which you have completed a csm certification course and demonstrate their understanding by passing the exam.
- project in controlled environments it is also known as prince2 prince2 or project in control man and manner environment certification is a process-based project management method that offers a systematic approach to delivering a successful project with clear templates processes and steps. you know so far we have understood a lot about uh how product managers are different from project managers.
How do they work together?
now let’s understand how product managers and project managers work together so a product manager sets the trajectory for a project by creating visions of the end goals by doing market research and knowing the customer’s requirement and the project manager brings these visions and goals into the reality by working on the projects and develop the products.
Salary of product managers
with this we have come to the end of this session but before we wind up let’s know what is the average salary of product managers.
Project managers salary
and project managers the average salary of a product manager in India is approximately 10 lakhs and in u.s is approximately ninety thousand dollars to one lakh sixty thousand dollars the average salary of project managers is still lacking in India and in u.s it is seventy-five thousand dollars for refreshes and one forty thousand dollars for an experienced person in us let us know which profession you are aiming for do let us know in the comment section below.