If you’re curious what Product management is- read this article first. Project management, on the other hand, is the application of knowledge, skills, tools, and techniques to meet each project’s requirements. It’s the practice of planning, organizing, and executing the tasks needed to turn a brilliant idea into a tangible product, service, or deliverable. I’ll write more about Project Management in a future post.
These two job titles are so hot right now but despite only being 2 small letters apart, they are very different in several important ways. Often people conflate the two because the titles look and sound the same, but that would be a mistake because they are incredibly different roles. I’ve made a simple chart to show the main differences between them:
PROJECT MANAGER
PRODUCT MANAGER
- The more well known job title, this role is plentiful at many companies. Easier to learn this role as well.
- Has more history– this title has been around for a few decades and is more understood, has courses to support.
- More niche job title, this role is harder to find, and it’s even more difficult to to pinpoint their need in a company.
- Very new, no classes for this, one is usually nurtured into the role. This role takes several years to learn, master and then move up through.
- Usually has a set salary range and expectations. There are many that exist and companies provide a clear salary range for the position. If you look across the big tech companies you’ll see a similar range for the role across all of them.
- Manages several projects at once. This role has to get several projects over the finish line simultaneously and doesn’t get to focus their attention on 1-2 products at a time. If you’re a strong multitasker this position could be for you.
- There is NO ceiling for compensation here-this position is a commodity. We call this a “unicorn role” because you either have to hit the lottery and find the one who fits your needs perfectly or nurture someone into the role. Because of this, there is no salary range and no ceiling for compensation. The sky is the limit!
- Focuses on 1-2 products at a time. This role is expected to give undivided attention and love to their products so if a detail is overlooked it can fall to their responsibility. Has to take ownership over every facet and act as a mini CEO of their products.
- The timekeeper; keeps everyone on schedule and sounds the alarm if anything appears to be veering off course. Sets meetings, chases everyone to show up for meetings and gets everyone on the same agenda at all times. Once the product launches they’re done.
- The communicator; Oversees the schedule but also has their hand in creative and customer experience and marketing (and every other department). Makes sure the product is the best it can be and pushes every department to constantly improve. Is also actively involved with the business side and stays with the products post-launch.
- In a restaurant analogy the Project Manager is the general manager of the restaurant; they get butts in seats and they get it to open on time every day and they want to make a profit.
- In a baby analogy, the Project Manager Gets the baby born
- In a restaurant analogy the Product Manager is the Chef; takes ownership over the menu, the staff, the look and feel of the place but also the business side and the profit margins. Has the creative AND the business brain.
- In a baby analogy, the Product Manager Delivers the baby and then raises the kid. You’re the parents of this product.
I hope this side by side view has made it obvious that these are two very different job titles that fulfill two very different needs at a product based company. Not everyone is cut out for either so do your research before setting your sights on a path to pursue. If you have any questions please drop them in the comments!
