For all practical purposes, there is no basic difference between program management and project management. But what about product management? Project management and product management are similar, with one major exception: The project manager focuses on the end date of his project, whereas the product manager is not willing to admit that his product line will ever end. The product manager wants his product to be as long-lived and profitable as possible. Even when the demand for the product diminishes, the product manager will always look for spin-offs to keep his product alive.
Figure 2-10 shows the relationship between project and product management. When the project is in the R&D phase, a project manager is involved. Once the product is developed and introduced into the marketplace, the product manager takes control. In some situations, the project manager can become the product manager. Product and project management can, and do, exist concurrently within companies.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.