Product Management vs. Project Management

Product managers are suddenly a sought-after role at companies across industries. 

Technical products have become increasingly important in almost every field, and the tech industry itself is rolling out products at a faster and faster clip. By one count, the number of product management jobs in the U.S. grew a whopping 32% between 2017 and 2019.  

But the project manager—a role that is often confused with a product manager and has similar roles and responsibilities—is no less important. While the number of project managers may not have risen as dramatically, project managers have steadily contributed to global productivity, and the role is expected to remain in high demand.

So what’s the difference between product managers and project managers? Where do their skill sets and responsibilities overlap, and where do they diverge? In this article, we’ll explore exactly how project managers and product managers help companies get work done.

What is product management? 

Product management is an activity within an organization that deals with the planning, forecasting, creating, and marketing of a product through all its life cycle stages. 

Unlike a project, a product is never “done”—until it reaches the final stage of its life cycle and is taken off of the (digital or physical) shelf. As shown in the project management base above, a product might need upgrades or new features at any time, to keep up with its customers' ever-evolving tastes or requirements. 

To understand product management, it helps to first understand what we mean when we talk about a product. 

A product can be anything from a physical product to a service that caters to the needs and preferences of any group. It’s created to solve a specific problem. 

For example, take a software business like Docusign, which started out offering electronic signatures on legal documents. As Docusign’s product evolved and the company aimed to appeal to a wider audience, it offered a mobile application version of that same product. Creating the mobile app was an evolution in its product life cycle, and was likely overseen by a fleet of product managers.  

A product life cycle consists of multiple stages, from market development to growth, maturity, decline, and beyond. It essentially never stops, evolving over time with the changing needs of a company’s customers.  

What is project management? 

Project management is an activity inside an organization that essentially manages all the goals of a project and delivers something of value. 

A project is a time-bound endeavor, in that it has a beginning and an end. It might involve creating a new product line or service, or it could be something much more limited, like making a tiny upgrade or tweak to a product or service. 

A project life cycle consists of multiple steps: initiation, scoping, planning timelines, allocating resources, executing tasks, monitoring tasks, communicating progress and finally ensuring that the project completes on time. 

One of the main differences between a project and a product is that the project has a deadline. As soon as the project meets its goals, it ends.

While a project is more likely to deal with just one product or service, a product life cycle likely includes multiple projects. 

How do product management and project management get mixed up? 

So why would someone confuse a project manager with a product manager—outside of the fact that they’re both known as “PMs”? 

Smaller businesses sometimes hire one person to perform the duties of both managerial positions. If you’re responsible for a new product launch, you should be able to manage that project, right? 

Unfortunately, when a product manager takes on the roles of project manager (and vice versa), the results can disappoint. Timelines get jumbled, expectations aren’t set correctly, launch dates get missed, and customer satisfaction suffers. 

It comes down to skill sets—a product manager might struggle with task management, but be a whiz when it comes to user research and development, or the forecasting, launch, and marketing of a new product. A great project manager may be brilliant at planning, executing, and using company resources to meet goals, but miss what makes a product appealing in the marketplace. 

How is product management similar to project management?

Both project managers and product managers must be well organized and master communicators. Both roles manage timelines, work with vendors, and juggle the goals of their stakeholders and consumers.

Product managers are constantly communicating with their cross-functional partners to ensure that those stakeholders are on board with the product vision. Their goal is to keep stakeholders (both internal and external) satisfied and aware of all product development.

Project managers are also responsible for understanding the expectations of stakeholders and clients, communicating with them at every step in the process, managing conflicts and addressing any issues that may arise. In short, as they manage a project, it’s their job to keep all stakeholders happy and satisfied.

Putting project management on the map 

One of the main responsibilities of a product manager is to research and create a product roadmap. This can include content and projects surrounding a product, which is where a project manager comes in handy. 

For example, let’s say the Bright Company makes luxury soy candles. 

A product manager at Bright would create a roadmap detailing all aspects of the candles themselves, including development, sizes, type of wax, scents, customer needs and desires, pricing, and future varieties. They might conduct market research and create a product road map to launch the candles. 

With the candles launched, the product manager might also gather feedback and keep tweaking candle prices, formula, and other details.  

A project manager at Bright would have a whole different set of priorities. He or she might take on the launch of the Bright website, the hiring of staff to make candles, or evaluating how the soy candles are doing in a certain market.

To be sure, both project manager and product manager would communicate frequently in areas where they overlap. But in the end, the product manager is ultimately concerned about the viability of the candle as a product. The project manager must ensure that other important aspects of candle-making are completed on time, under budget, and with the available resources. 

The right tool, no matter what you’re managing 

Project management and product management are equally important to the success of any company. Both require extreme levels of organization and intense collaboration, making Airtable’s customizable platform the right tool for both jobs. In Airtable, it’s easy to visualize fast-changing deadlines and a cinch to adjust the calendarThe right tool, no matter what you’re managing  when the timing of a product launch changes. Airtable has templates for projects of all shapes and sizes, making even the most complex projects manageable.

Project management and product management are equally important to the success of any company. Both require extreme levels of organization and intense collaboration, making Airtable’s customizable platform the right tool for both jobs. In Airtable, it’s easy to visualize fast-changing deadlines and a cinch to adjust the calendar when the timing of a product launch changes. Airtable has templates for projects of all shapes and sizes, making even the most complex projects manageable.