Product Management In 5 minutes (Part 1)

“Colleague — Gaji, so you’re a project manager
Me — Nope, I’m a “Product” Manager.
Colleague —oh, is there a difference.
Me — Yes, a big difference
Colleague — really
Me — hmm hmm
Colleague — So, What’s Product Management
Me — well…”

Yes, I get asked these questions pretty often, even from experienced business people. One reason is that it encompasses wide-ranging areas of responsibility, In fact, the role itself means very different things in different organizations depending on the industry and size.

Well, my response usually is “Product management is an organizational function within a company dealing with a “product development(planning, business justification, verification… )”, a product manager is someone that sits between multiple areas of the establishment and acts as a communications hub, organizer and enabler for everyone else(engineers, designers e.t.c). basically responsible for the ultimate success of the product”.

Of course, if this feels or sounds abstract to you. Don’t fret let me be your guide to understanding this role, in this part, I’d try my best to explain; the concepts(product, product development & product management), and the difference between product and project management.

The concepts

Press enter or click to view image in full sizeThe Concept of Product Management image by Yasir Gaji

What’s a Product?
This question might sound or seem silly, but it's quite essential to know as a product manager, so a product can be anything it could be the device you’re reading this article from, the browser, it could be your phone, laptop, anything it can be medium itself, all these are products from the classical definition. But when it comes to product management it's deeper than that, product managers can be in charge of the features that make up what the consumers actually call the product, take youtube for instance, to a consumer it’s a single product but it’s actually series of products in one: whereby, the video player, the video feed section, the navigation, the suggestions section, the search bar, the user profile, the voice to search section, and the comment section to mention a few are individually different products and possibly being managed by different product managers and product teams(engineers and designers).

Press enter or click to view image in full sizePress enter or click to view image in full sizeThe Youtube as a Product Breakdown by Yasir Gaji

But there are also cases where product managers are not split up by the features( like in the case of youtube or larger companies like Facebook), or by pieces of software, rather they’re split up by platforms, for instance, a finance app existing on different platforms a product manager can be in charge of the android app, while another in charge of the ios app, and another on the desktop app or website, there are also other product managers that work on things like advertising, subscription… depending on the business model of the company. All in all a product as far as a product manager is concerned can be anything ranging from an entire real-life product as a consumer sees it, or in some cases split up into smaller sections for more complex products or larger companies.

What’s Product Development & Product Management?
Product Development is the process or stages involved in bringing a product from concept or idea to market release, and the product's life cycle(which are: Introduction, Growth, Maturity, and Decline).

while Product Management is the art to ensure proper development of a Product which includes a wide variety of strategic and tactical duties such as Conducting research, Developing strategy, Communicating plans, Coordinating development, and Acting on feedback and Data Analysis to speak of a few.

Product Vs. Project Management

The two terms are often used interchangeably, its practitioners are often both referred to as “PMs” by different people. But like I said there's a Big Difference between these disciplines requiring their own particular set of skills.

Press enter or click to view image in full sizeProduct Vs. Project Management image by Yasir Gaji

However, Project Management as a skill is something you’d definitely need as a Product Manager, so what’s the Big Difference we know Product managers are responsible for the success of the product but are they accountable. Success is defined by KPIs(Key Performance Indicators) or metrics, and it's left to the product manager to figure out however method they’d use to achieve it. They sit at the fulcrum of the business’s goals, the customers’ needs, and the teams building the solutions that meet those needs and goals. It is a role that is both external and internal, manages up and down, and spans technical, business, and operational domains.

Project Managers are responsible for accomplishing a project, not a goal. A “project” usually has a timeline and a budget as a constraint, they're extremely important for rigid things. Their involvement with an initiative doesn’t begin until things are already defined, but once it’s placed in their hands, they serve an integral role in making it all happen. From scheduling to resource allocation to budget management to quality control — they have an essential part to fill in defining the plan and making sure it comes off without a hiccup.

Conclusion

I believe I’ve been able to do justice as regards the concept and the difference between Product and Project Management in the next part we’d learn about Product Management Roadmap and Types. Do ask questions for clarification.