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Project management and product management are significant designations in a company. However, both the expressions might resonate, there are remarkable differences between the two.
Product management refers to organizing and administering the product life cycle. It goes through certain stages of development, from conceptualization to launching in the market.
Project management is the creation of a product from beginning to end. Creating a product is a one-time process, and it has an explicit outcome.
The product is not a provisional endeavor and is customized as per the customer’s needs.
It incorporates several projects for its continuity and advancement.
Roles and responsibilities of product managers and project managers
Regardless, both the roles function in close resemblance to each other, they have distinct sets of responsibilities.
Product Managers
Gather data and create & maintain a product roadmap
Interpret key metrics for product development
Develop project plans and share them with stakeholders
Analyze and research ways for product growth
Drive the product development
Rectify faults in the product to fulfil sales objectives
Project Managers
Administer the implementation of project development plans
Interact with the stakeholders regarding project development
Project resource allocation
Monitoring every phase of the project
Planning and proposing project deadlines
Interact with the teams, identify risky prospects to fulfil business objectives
How can the SwiftEnterprise tool simplify the job of project managers and product managers?
SwiftEnterprise is a fully Integrated Delivery Platform that streamlines the business process. It organizes the data in an organization and provides real-time reports, manifesting the key insights.
The platform possesses a management dashboard that shows the program development and deadlines.
What are the highlights of the swift enterprise tool?
A comprehensive work management platform that executes various tasks in an organization.
Administers applications, initialized product lifecycle, and leads to project launch.
Possess lean-agile features to overlook agile projects.
In a nutshell
Though both the concepts are complementary and consequential to building a business strategy. The two roles are in equal demand, as both are problem solvers and contribute to creating successful products. Essentially, it's absolute to segregate the roles for better allocation of resources and accomplishing the project deadlines.
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