Скачать или смотреть Project vs Product, What’s the difference between a project and a Product, Project Management.

This Video is is related to How a project is different form a product.
Project and Product are confusing terms they sound similar but practically both are different from each other.
Project and Product Management required different techniques, mind set and skills.
Project: “A Project is a series of specific tasks that is completed in order to produce a specific outcome in specified time frame”.
Product: “A Product is a service or an item that is made for consumers. Products are ongoing and needs based.

Project vs Product – Differences:
Simply the Projects are for Clients while the Products are for Consumers.
A Consumer care about the services provided to him or items he purchased, he don’t care about projects.
A Project is a Process while a Product is an effort.
Project:
1. Temporary
2. Unique
3. Requirement Based
4. Closed after Completion
Product:
1. Ongoing
2. Similar Items or services
3. Needs Based
4. Permanent and Continuous improvements
(Retired when no demand)

Project Management vs Product Management:
Project Management: Project Management is a practice to determines the project scope and objectives.
This Practice is responsible for Project initiation, Planning, Execution, Monitoring, Control and project closing to achieve its goals in a specified time frame.
Product Management: Product management is a general organizational role inside a Company to organize the Planning, developing, Marketing, selling and other relevant tasks required for any item or service creation.
Project Manager vs Product Manager:
A Project Manager is a Professional who leads and overall responsible for the project and he makes Planning, Budget, Procurement, Execute, Monitor and Control, Repots and finally close out the project.

A product manager is a professional inside an organization who leads and responsible for the success of a product.
A Product Manager has a responsibility form Product concept to design, production, cost and quality control, Marketing and selling out.

Project and Product Examples:
Projects produce Products, for example construction of a power plant is a project and the outcome of this power plant “Electricity” is a product.
Construction of a house is a project but if someone will purchase a constructed house then it’s a product.

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