This document discusses the differences between product management and project management. Product management oversees a product throughout its entire lifecycle, while project management focuses on a specific project from initiation to completion. Both roles involve identifying opportunities, guiding development teams, and monitoring progress. However, product managers ask "what" and "why" questions while project managers ask "who" and "how" questions. The document then outlines typical responsibilities and skills for product managers, project managers, and product owners. It also describes a sample day for a product manager which involves discovery, planning, execution, and growth activities.

1. Product Management
vs
Project Management
October 17th, 2020

2. Objectives
- Product Mgt vs Project Mgt
- A day in the life of a Product Management
- Why is Product Management awesome?

3. Adeola Conde
 Digital Payment Expert with experience in IT and
Product management
 Career Space & Privileges- Financial industry building
products and features in collaboration with cross-
functional units, Education, FMCG, FinTech, third-
party processors and card-schemes.
 Lead for Acceptance & Acquirer Management in
Access Bank
 Life now - Enjoying my status as a WFH Mom of two
hyper boys

5. Product Management
vs
Project Management

6. Product
First, lets understand the difference between the base words……
Project
• No set timeframe
• More permanent, long-term project team
• Continuous development
• Vision
• It is guided by a Program
• Time-bound (beginning and end date)
• Temporary, short-term project team
• One-off delivery
• Set plan
• It is a subset of a Program
A program is a group of projects that are similar or related to one another, and which are often managed and coordinated as a group instead of
independently

7. Product Management
is function of management that
follows a specific product
throughout its entire life cycle

8. Project Management
is an organizational function
that follows a specific from its
initiation to completion
"It is the act of putting a
product plan into action,
monitor its progress and make
sure it succeeds delivery"

9. Agile Project Management
is an approach based on delivering
requirements iteratively and
incrementally throughout a product
life cycle.

10. What is does a Product Manager and
Project Manager share in common ?
A. The same initials – PM

11. • Identifying Opportunities — by understanding the market, overseeing the products already in the market
and researching into user’s needs and challenges
• Defining the Product — by deciding features to be present in each release based on market, target users,
and impact of each features on different user groups.
• Guiding the development team - with documented user requirements, user stories and prioritizing features
based on effort and impact
• Scaling the product — by defining Go to Market Strategies, understanding the user interactions,
experimenting and focusing on what’s working and leaving out what’s not, deriving and using market
• Product Strategy — managing road-map as a function of market, keep product goals aligned with
company’s goals and detailing the specific steps that need to be taken by the product team
• Product Performance - in charge of monitoring the product’s progress and continuous development with
market research and promotion.
Let’s check out the responsibilities of the Product Manager ……

12. • Breaking down strategic plan into actionable, task-orientated initiatives
• Leading project planning sessions and coordinating staff and internal resources
• Optimizing and improving processes and the overall approach where necessary
• Managing large and diverse teams including relationships with clients and stakeholders
• Designing risk mitigation plan, conducting project review and creating detailed reports for executive staff
• Oversee the entire delivery of a project and ensure it’s completed within a defined timeframe, budgets and
resources.
• The project manager's job is concluded once the defined task is completed and delivered to the product
team
Let’s check out the responsibilities of the Project Manager ……

13. Skills of an Effective Manager
Product Manager
• Technical
• Creative
• Business
• Marketing
• Design
• Consumer science
• Communication
• Delegator
• Leadership
• Management
• Strategic thinking
• Results-oriented
• Culture
• Business maturity
• Domain expertise
• The Power of No
Project Manager
• Technical
• Leadership
• Motivation
• Communication
• Organization
• Prioritization
• Problem-solving
• Adaptability
Product Owner
• Technical
• Communication
• Problem-solving
• Domain expertise
• Delegator
• Storyteller
• Adaptability/Agile – “we move”
• The Power of No

14. GOOD NEWS!!!
You don’t have to learn all the skills overnight. They
develop over time

15. What “W” questions does a Product Manager ask?
A. The WHAT
B. The WHY
C. The WHO
The “W” questions asked
What “W” questions does a Project Manager ask?
A. The WHO
B. The HOW
C. The WHEN
What “W” questions does a Product Owner ask?
A. The WHY
B. The HOW

16. A day in the life of a
Product Manager

17. “In theory, the Product Manager’s job is a one-person job. In
practice, overseeing the development of a larger, complex
product is a shared effort”.
- Amit Ashwini

18. Every day is Dynamic
1. Discovery
2. Planning
3. Execution
4. Growth

19. Review lots of data and feedback
1. Customer advocate
2. Day-to-day decision maker
3. Communicator with the business and
other cross functional teams

20. Review lots of data
and feedback
1. Data Analytics is the new currency
2. Monitoring activity is not the same as a
review
3. Understanding the correlation between the
data trend and customer feedback

21. PMs sit/stand and think
1. A wider view of the product landscape
based on the analysis of all diverse views and
data
2. Define the minimum that needs to be
delivered in order to receive value
3. Our favorite part of the day as problem-
solvers

22. Always Coaching Others
1. Vantage point of defining the culture of
product building
2. Master the art of an articulated “Shalaye” =
process + value
3. This earns you the Power to Say No

23. Conclusion
1. The day is rarely dull , it’s a little bit of each
area in every day
2. PMs don’t get praised very often
3. But when the wrong note is hit, YOU are the
one that everyone looks to

24. What is project management??
A. A function that follows a product from its conception to its termination
B. A function that follows the customer's response to the product
C. A function that follows all tasks associated with a product
D. A function that follows a specific task from the time it starts until it is finished.

25. What is Product Management ?
A. A function that follows a project from the time it starts until it is finished.
B. A function that follows a product from the time it becomes an idea until it is no
longer offered
C. A function that follows a product after it hits the market
D. A function that follows a product after it is terminated.

26. Why is Product Management
awesome?

28. Thank You