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Introduction to AIPMM Product Management Framework and Roles of Product Manager
If you are thinking to transition into product management or if you just started as a new product manager this course is for you. Discover how to efficiently manage products by learning concepts, processes and tools.
Product management and project management—they sound similar, and there’s (literally) only two letters that separate them. To top it off, these two concepts are commonly confused with each other, even by people experienced in product development!
While they do sound similar, and there is a bit of an overlap between the two concepts, there are important differences.
A successful Product Manager understands that without the proper project management, product development will hit a snag. They’re able to work closely with a Project Manager to create a successful product.
Product management and project management are complementary but distinct. To understand this distinction, let’s define the words Product and Project.
A Project is a temporary endeavor undertaken to create a unique product or service. There is a clear definition of what needs to be delivered the date when it needs to be delivered.
A Product is anything that can be offered to a market to solve a problem or satisfy a want or need. It has a life cycle with multiple stages. A product is conceived, developed, introduced and managed in the market, and retired when the need for it diminishes. A product can only be developed within the context of a project, and multiple projects can occur within a product’s life cycle.