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Differences Between Project and Product Management - H. Del Castillo, AIPMM - USAA Meeting

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I want to thank everyone who attended this Lunch & Learn Meeting at USAA in San Antonio, TX. Favorite this presentation if you like it. I welcome your comments regarding this topic. ...

I want to thank everyone who attended this Lunch & Learn Meeting at USAA in San Antonio, TX. Favorite this presentation if you like it. I welcome your comments regarding this topic.

Overview
Despite the similar names, there are big differences between product management and project management. The confusion between the two roles is common and potentially harmful to organizations who do not acknowledge the distinction. This is often the case for companies that develop web-based and technology products.

A common challenge is that the two roles often appear to be at odds with each other. A product manager may want to add a lot of features to meet customer needs, but the project manager may want to limit the scope so that the project is delivered on time and under budget. Often traditional definitions mischaracterize the project manager as singularly focused on getting a specific product release finished on time and under budget without any concern as to whether it meets the needs of the market or customers.

A comparison of the Product Management Body of Knowledge (ProdBOK®) and the PMBOK® will be presented. We will discuss the similarities and major differences in the two roles and how they work together within companies that consistently transform product innovation to profit.

About the Speaker:
Hector Del Castillo has over 15 years of experience helping companies grow by directing the product strategy to lead high performing product teams. He has launched several profitable technology-based products and solutions. He provides services as a consultant, contractor, coach, trainer, or speaker to organizations that need to create value-added products that delight customers and create demand.

Connect with Hector for information about AIPMM membership or training courses in your area. Let him know how he can help your company grow stronger by creating great products that customers demand.

Contact
Hector Del Castillo, PMP, CPM, CPMM
Transforming products to wealth for technology-based organizations.TM
Senior Product Innovation Consultant
Association of International Product Marketing and Management (AIPMM)
Connect: linkd.in/hdelcastillo
Follow: @hmdelcastillo
Visit: www.aipmm.com

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  • With members in 65 countries, the AIPMM is the worldwide certifying body of product team professionals. The only organization that addresses the entire product lifecycle (inception to obsolescence) throughout any industryPresently has offerings in North America, Europe, Middle East, Australia and Southeast Asia. Membership benefits include eligibility for the Certification Programs, discounts to AIPMM conferences, and access to the Career Center, peer Forums, tools, templates and publications.
  • AIPMM offers globally recognized certifications for product managers, product marketing managers and brand managers.Certification requires obtaining a college degree, minimum one year of experience, and passing a certification examination.
  • IntroductionAre you currently looking for a new job? Are you a contractor or consultant in between engagements? This presentation is for current job seekers, independent contractors and independent consultants. It is for those of you who are looking for new job, contract, or consulting opportunities. It is also for those of you who are frustrated in your current job.I’ll discuss how to accelerate your job search using LinkedIn, Twitter and other social media.
  • Recommended Reading:Harvard Business Review April 2004The Ambidextrous Organizationby Charles A. O’Reilly III and Michael L. TushmanThe Roman god Janus had two sets of eyes—one pair focusing on what lay behind, the other on what lay ahead. General managers and corporate executives should be able to relate. They, too, must constantly look backward, attending to the products and processes of the past, while also gazing forward, preparing for the innovations that will define the future.
  • In their March 19, 2012 issue, FORTUNE magazine named the 50 most admired companies overall. FORTUNE's survey asked businesspeople to vote for the most innovative companies, from any industry.Results showed that each of the top 10 most innovative companies are ranked #1 or #2 within their own respective industrial segments.The Kellogg study concludes that high-performance firms have a clearly-defined process for product launch, escalations, and need identification.
  • Project Management is an organizational function within a company dealing with planning, organizing, securing and managing resourcesthroughout all stages of a project. It applies processes and knowledge over time. It also aligns cross-functional teams to complete projects on time and under budget.
  • Product Management is the organizational function within a company dealing with the thoughtful and proactive management of a product or group of products (product portfolio) throughout all stages of the product lifecycle. It is process that aligns internal cross-functional teams for conceiving, planning, developing, testing, launching, selling, and withdrawing products in the market.
  • Inception – Gather ideas. Gathering market information about industry, market segments, value and supply chain.Incubation – Capture insights.Introduction – Validation, Verification, & ConfirmationIntegrate to the product management & marketing process.
  • Inception – Gather ideas. Gathering market information about industry, market segments, value and supply chain.Incubation – Capture insights.Introduction – Validation, Verification, & ConfirmationIntegrate to the product management & marketing process.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.
  • Here we show AIPMM’s Product Management Framework. It depicts the typical phases for products throughout their life cycle from cradle to grave.

Differences Between Project and Product Management - H. Del Castillo, AIPMM - USAA Meeting Differences Between Project and Product Management - H. Del Castillo, AIPMM - USAA Meeting Presentation Transcript

  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del Castillolinkd.in/hdelcastillo
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloI want to thank everyone who attended thisLunch & Learn meeting.I welcome your feedback regarding this topic.Contact me with any comments or questions.I look forward to seeing you again soon.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector: @hmdelcastilloAIPMM: @AIPMMTweet!
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloThe Hub Of All Things Product Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCommunitySubject Matter Experts & Like-Minded Peers to askquestionsCertificationCertification can help to improve bothorganizational performance and individualcareer aspirations as part of a managed skillsdevelopment approach.ConnectionsConnecting our members through multiple social medianetworks extends our reachContentHundreds of practical templates, examples, and informationThe Hub Of All Things Product Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCommunitySubject Matter Experts & Like-Minded Peers to askquestionsCertificationCertification can help to improve bothorganizational performance and individualcareer aspirations as part of a managed skillsdevelopment approach.ConnectionsConnecting our members through multiple social medianetworks extends our reachContentHundreds of practical templates, examples, and informationThe Hub Of All Things Product Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCommunitySubject Matter Experts & Like-Minded Peers to askquestionsCertificationCertification can help to improve bothorganizational performance and individualcareer aspirations as part of a managed skillsdevelopment approach.ConnectionsConnecting our members through multiple social medianetworks extends our reachContentHundreds of practical templates, examples, and informationThe Hub Of All Things Product Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCommunitySubject Matter Experts & Like-Minded Peers to askquestionsCertificationCertification can help to improve bothorganizational performance and individualcareer aspirations as part of a managed skillsdevelopment approach.ConnectionsConnecting our members through multiple social medianetworks extends our reachContentHundreds of practical templates, examples, and informationThe Hub Of All Things Product Management
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloAIPMM CertificationsAIPMM offers globally recognized certifications:• Certified Product Manager (CPM®)• Certified Product Marketing Manager (CPMM®)• Agile Certified Product Manager (ACPM®)• Certified Innovation Leader (CIL®)• Certified Brand Manager (CBM®)
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del Castillo• Senior consultant with over 15 years of experience transformingproducts to profit for technology-based companies• AIPMM Body of Knowledge (ProdBOK®) Contributor• Established companies– Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies• Small companies and startups– Nextone Communications, Smith Micro Software• Launched 30+ Products for global deployment– HW/SW, Telecom, Enterprise Mobility, Information SecurityServices, Professional Development• Certified PMP®, CPM® and CPMM®• University of California at Santa Barbara, MS EE• University of Texas at El Paso, MS EE, BS EE10
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFEATURED PRESENTATION
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBefore We BeginSlides: http://slidesha.re/YcvsuMHandout: http://slidesha.re/11ChCB1
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat We Will Discuss1. Common challenges2. Common responsibilities3. Key differences4. Framework comparison5. Key takeaways
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCommon Challenges• Few people understand the role• Roles and responsibilities can be very unclear– Get drawn into too much tactical coordination• Lack the authority to carry out theirresponsibilities– Little influence on corporate branding, channelselection, or advertisingSource: Rajesh K. Tyagi, Mohanbir S. Sawhney, “High-Performance Product Management: The Impact ofStructure, Process, Competencies, and Role Definition,” Journal of Product Innovation Management, Vol. 27, Issue1, January 201014
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBoth roles align activities performed bycross-functional teams with strategicobjectives.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBoth roles require strong influential andcollaborative skills to guide critical decisions.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloBoth roles orchestratekey activities andmanage key deliverables.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFortune’s Most Admired CompaniesRank Company IndustryRankIndustry1 Apple 1 Computers2 Google 1 Internet Services & Retailing3 Amazon.com 2 Internet Services & Retailing4 Coca-Cola 1 Beverages5 IBM 1 IT Services6 FedEx 1 Delivery7 Berkshire Hathaway 1 Property & Casualty8 Starbucks 2 Food Services9 Procter & Gamble 1 Soaps & Cosmetics10 Southwest Airlines 1 AirlinesSource: Fortune Magazine, Mar 19, 2012
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is Project Management?• Organizational function ofplanning, organizing, securing andmanaging resources1• Applies processes and knowledgeover time2• Aligns cross-functional teams tocomplete projects3
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is the most important task for aProject Manager?A. Maximize revenue.B. Lead product development activities.C. Reduce development cost.D. Maximize profit.E. Deliver high quality.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is Product Management?•Organizational functionthroughout product lifecycle1• Proactive planning of products2• Aligns cross-functional teams tocreate and support a product3
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloWhat is the most important task for aProduct Manager?A. Maximize revenue.B. Lead product development activities.C. Reduce development cost.D. Maximize profit.E. Deliver high quality.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloROLES & RESPONSIBILITIES
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProject Managementtriple constraint focuses onmaximizing quality. ScopeCostQualitySchedule
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloCustomerBusinessProduct(Value)MarketProduct Managementtriple constraint focuses onmaximizing value.Source:H.DelCastillo,AIPMM,©1998-2013,AllRightsReserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloQuality ≠ Value
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloValue = f(Quality,…)
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTacticalInternallyFocusedFunctionalManagerStrategicExternallyFocusedWork Environment
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTacticalInternallyFocusedFunctionalManagerStrategicExternallyFocusedBoth roles get drawn into tacticalactivities.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTacticalInternallyFocusedFunctionalManager StrategicExternallyFocusedBoth roles need to stay focused onstrategic objectives.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTacticalInternallyFocusedFunctionalManagerStrategicExternallyFocusedProject Managers are mostly internallyfocused.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTacticalInternallyFocusedFunctionalManagerStrategicExternallyFocusedProduct Managers are mostly externallyfocused.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProject Management Product ManagementSource: “Take Charge Product Management”by Greg GeracieSource: “S.T.O.P. The Project Management Survival Plan”by Steven StarkeBoth roles bring different perspectives.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProject Managers guide keydecisions to maximizequality and minimize risk.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProduct Managers guide keydecisions to maximizevalue and create newrevenue streams.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFRAMEWORK COMPARISON
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTypical Project Life CycleThese are stages that projects go through from initiationto closing
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProject Management FrameworkSource:PMIPMBOKv4Initiate Plan ExecuteMonitor/ControlCloseKnowledgeAreasIntegrateScopeTimeCostQualityHRCommunicateRiskProcure
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloTypical Product Life CycleThese are stages that products go through fromintroduction to withdrawal from the market
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloSource: © 1998-2013, AIPMM, All Rights Reserved.GatePhaseSeven Phase Product Life Cycle
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloProduct Management FrameworkKnowledgeAreasOrganizationMarketBusinessCustomerProductSource: AIPMM ProdBOK, © 1998-2011, All Rights Reserved.Conceive Plan Develop Qualify Launch Deliver Retire
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework ComparisonProject ManagementProduct ManagementInitiate Plan ExecuteMonitor/ControlCloseConceive Plan Develop Qualify Launch Deliver Retire
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationSource: AIPMM ProdBOK, © 1998-2013, All Rights Reserved.InitiatePlanExecuteMonitorClose
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationInitiatePlanExecuteMonitorCloseSource: AIPMM ProdBOK, © 1998-2013, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationInitiatePlanExecuteMonitorCloseSource: AIPMM ProdBOK, © 1998-2013, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationInitiatePlanExecuteMonitorCloseSource: AIPMM ProdBOK, © 1998-2013, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationInitiatePlanExecuteMonitorCloseSource: AIPMM ProdBOK, © 1998-2013, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationPlanDevelopTestEvaluatePlanDevelopTestEvaluatePlanDevelopTestEvaluateSource: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFramework IntegrationPlanDevelopTestEvaluateSource: © 1998-2013, H. Del Castillo, AIPMM, All Rights Reserved.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloComparison of Key DeliverablesProject Management Product Management• Project Knowledge Base• Project Portfolio Analysis• Project Charter• Project Management Plan• Work Breakdown Structure• Earned Value Analysis• Feasibility Study• Communications Plan• Procurement Plan• Quality Assurance Plan• Risk Management Plan• Status Reports• Lessons Learned• Product Knowledge Base• Competitive Analysis• Product Portfolio Analysis• Market Strategy Plan• Market Requirements Document• Product Requirements Document• Product Business Case• Product Roadmap• Technology Roadmap• Beta Plan• Launch Plan• Marketing Plan• End Of Life Plan
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloKey Takeaways• Both roles guide key activities and decisions1• Both roles impact profit and loss2• Project Managers minimize loss and risk3• Product Managers maximize value and profit4• Both roles collaborate to deliver quality & value5
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del CastilloCPM, CPMM, PMPlinkd.in/hdelcastillo@hmdelcastillohmdelcastillo@aipmm.com
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloUpcoming CoursesCourse & Location Dates Days TimeACPM® Certification Prep Course & ExamMcLean, VA May 13, 2013 M 8:30 am – 5 pmCPM® Certification Prep Course & ExamMcLean, VA May 14-15, 2013 T, W 8:30 am – 5 pmCPMM® Certification Prep Course & ExamMcLean, VA May 16-17, 2013 Th, F 8:30 am – 5 pmRegister for these courses here: http://bit.ly/Y9val2.Additional courses are available in Austin, San Jose, and Seattle.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloUpcoming CoursesCourse & Location Dates TimeCIL® Certification Prep Course & ExamKuala Lumpur, Malaysia Jun 5-6, 2013 9 am – 6 pmCPM® Certification Prep Course & ExamAmman, JordanSingaporeKuala Lumpur, MalaysiaMay 6-7, 2013May 27-29, 2013Jun 3-4, 20138 am – 5 pm8 am – 5 pm9 am – 6 pmCPMM® Certification Prep Course & ExamAmman, JordanSingaporeMay 8-9, 2013May 30-Jun 1, 20138 am – 5 pm8 am – 5 pmFollow the links provided to get more informationregarding these courses.
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloPlease Join Us Again!AIPMM Webinar Series:Making Smarter Decisions About Your Products, May 3, 12 p.m. ETBuilding and Growing an Amazing Product Management Team, May 10, 12 p.m. EThttp://aipmm.com/aipmm_webinars/Global Product Management Talk:http://www.blogtalkradio.com/prodmgmttalkStay Informed!Newsletter: http://www.aipmm.com/subscribeLinkedIn: http://www.linkedin.com/company/aipmmMembership: http://www.aipmm.com/join.phpCertification: http://aipmm.com/html/certification/
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloFor More Information About• AIPMM membership benefits• Certification courses in your area• How to prepare to take a certificationexam• Strengthening your product portfolio todelight your customers, increase valueand minimize risk
  • © H. Del Castillo, AIPMM 2013 Linkd.in/hdelcastilloHector Del CastilloCPM, CPMM, PMPlinkd.in/hdelcastillo@hmdelcastillohmdelcastillo@aipmm.com