Product management and project management

Project-Management

 

Very often a question is asked about the role of product manager in project management. How much should product manager do or leave to other team members?

In our experience it will depend on the company size and their business units structure.
Refer to below PMI matrix for more info.

 

PMI

 

Fundamentally if your company is highly projectized, product manager will unlikely need to do project management work as the business will have dedicated project managers.

However if your business operates in a balanced to functional matrix, I would strongly suggest that as part of your product management role, you will be required to do project and delivery management.

Let’s explore a little further to understand the key aspects of project management. As per PMI PMBOK we need to address the following:

1. Project integration management – it includes development of processes required to ensure that the various elements of the project are properly coordinated.  Following are major processes project integration management:

  • Project plan development
  • Project plan execution and
  • Overall change control

2. Project scope management includes the processes required to ensure that the project includes all the work required to complete the project successfully. It’s primarily concerned with defining what is in and not in the project. The following are the major processes of project integration management: initiation, planning, definition, verification and change control.

3. Project time management includes the process items required to ensure timely delivery of the project and covers: activity definitions, sequencing, duration estimating, schedule development and schedule control.

4. Project cost management includes the processes required to ensure that the project is deliver within the approved budget. As per below diagram the following are key cost management processes:

  • Resource planning,
  • Cost estimating,
  • Cost budgeting, and
  • Cost control

5.  Communications, risk and procurement are three separate areas of project management, we are going to cover them in less detail here.

6. Project quality management includes all processes required to ensure that the project will satisfy the business needs for which it was undertaken.

The following are three key process areas of quality management:

  • Quality planning (identifying quality standards and determining how to satisfy them)
  • Quality assurance (evaluating project performance on on-going basis)
  • Quality control (monitoring specific project results to determine if them meet agreed standards)

 

In any case having some project management skills would be useful to any product manager as the business environments always change.

If you want to learn more, consider our Product Management Training – it has a very solid component covering project management for product managers including Agile and PMI.

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