December 18, 2023
What Is the Difference Between a Product Manager and A Project Manager?
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There seems to be some confusion about the job titles of product manager and project manager. While both manage some aspects of work in a SaaS product, their jobs are distinctly different. In this blog post, we will explore those differences and help you to understand what each of the two roles entails. By the end of this post, you’ll have a good idea of whether you need a product or project manager, or perhaps which career better suits you.
Products Vs. Projects
The first thing to understand is that products and projects are not the same. A SaaS product (usually) is something that is created and then sold to a customer or client. It has a specific purpose and target market. A project, on the other hand, is a temporary endeavor with a specific goal. While a CRM is a product, for example, a project can be anything as small as changing a button on your website to as big as overhauling a website design.
What does a product manager do?
A product manager is responsible for the planning, development, and execution of a product. They work with cross-functional teams to ensure that the product meets the needs of the customer or client. Product managers are in close relations with customers on the one hand, collecting feedback, managing feature requests and bug reports and ensuring customers are happy.
On the other hand, product managers are in constant contact with developers, designers and marketers to ensure they follow the product mission and vision and build something customers will love using.
Product manager challenges
#1 Correcting product failures
When a product doesn’t perform as promised, it is the job of the product manager to correct the problem. This can be a difficult task, as it may require working with multiple departments and getting in touch with customers. With so many moving parts, it is important for the product manager to have excellent communication and problem-solving skills and prioritize accordingly.
#2 Handling cross-departmental communication
Product managers must be able to effectively communicate with teams from all departments, including development, design, UX, marketing, sales and others. This includes understanding the needs of both customers and different company departments and how they can be met. If there is a problem, the product manager must be able to quickly find a solution that works for everyone in the team and keeps customers happy.
#3 Sticking to a tight product launch timeframe
Product managers are often under pressure to meet deadlines. This can be a challenge, as there are many parts of product development that they have no direct control over. In order to succeed, product managers must be excellent at time management and have a good understanding of the product development process so they know what they can ask for and from whom.
What does a project manager do?
A project manager is responsible for the planning, execution, and delivery of a project. This project can be anything, from small tasks to launching a new feature in a SaaS product.
They work with different teams to ensure that the project is completed on time and within budget. Project managers also work with product and program managers to understand the needs of the customer or client. Some of the challenges that project managers face include:
#1 Owning and tracking risk
As the project manager, you are responsible for identifying and tracking risks. This can be a difficult task, as there are often many risks involved in a project. This means that you need to be aware of what you’re building, who the target audience is and what you stand to lose if you choose a certain path when managing a project.
#2 Keeping projects on track
It is the job of the project manager to make sure employees get their work done and do so on time. This can be difficult, as there are often many moving parts to a project. For this reason, it is important to have excellent time management and organizational skills.
#3 Working with product and program managers
In order to effectively manage a project, you must be able to work with product and program managers and all other stakeholders. This includes understanding the needs of each manager and how they can be met. If there is a problem, you must be able to quickly find a solution that works for everyone.
#4 Problem-solving project changes
Project managers are often faced with changes to their projects. This can be a challenge, as you must be able to quickly find a solution that works for everyone, including your customers. In order to succeed, you must have excellent problem-solving skills. You must be able to think outside the box and come up with creative solutions.
#5 Staying up to date with market trends
With so many changes happening in the market, it is important for project managers to stay up to date with SaaS, product, design, marketing and other trends. This can be difficult, as you must be able to quickly adapt to change. In order to succeed, you must have excellent research and analytical skills.
Main differences between a product manager and a project manager
#1 Different skillset
In order to be a successful product manager, you must have excellent communication, problem-solving, and time management skills. On top of that, they also need to have some level of technical knowledge of writing code in different programming languages. It’s not necessary, but it helps quite a bit.
On the other hand, project managers must be excellent at risk management, problem-solving, and research. Their technical knowledge mostly relates to the tools they use for project management.
The main difference between a product manager and a project manager is the scope of their responsibilities. A product manager is responsible for the entire product, from conception to launch. On the other hand, a project manager is only responsible for the successful completion of a project, which is smaller in scope.
#2 Different outcomes and measurements of success
The success of a product manager is measured by the success of the product and the overall satisfaction of customers. On the other hand, the success of a project manager is measured by the successful completion of a certain project.
There are many more moving parts in the successful job of a product manager because they’re in charge of the entire product, from inception to launch. Their success could be based on just one or a handful of metrics. On the other hand, a project manager’s work is either complete or incomplete.
#3 Different scopes
As mentioned, the scope of responsibility for a product manager is much larger than that of a project manager. A product manager is responsible for the entire product, from conception to launch. On the other hand, a project manager is only responsible for the successful completion of the project.
It also concerns itself with the "why" of change. A product manager strives to maintain a balance between the needs of the customer, the company, and the market. They are responsible for ensuring that a product is profitable and meets the needs of the target market. On the other hand, a project manager's focus is on meeting deadlines and budget constraints.
#4 Daily tasks
The daily tasks of a product manager vary depending on the stage of the product. For example, early-stage tasks might include market research and competitive analysis. Later-stage tasks might include product launch and post-launch analysis. On the other hand, the daily tasks of a project manager are more consistent. These might include creating project plans, tracking progress, and resolving issues between key stakeholders.
How do product managers and project managers work together?
All their differences aside, product managers and project managers have one thing in common. They both need to be able to work with a team, handle customer expectations, and deliver on deadlines. However, there are some key differences between the two roles.
Product managers are responsible for the product roadmap, among other things. This means they need to have a clear vision for what the product should be and how it should evolve over time. They also need to be able to communicate this vision to the rest of the team and make sure everyone is working towards the same goal.
Project managers, on the other hand, are responsible for ensuring that projects are completed on time and within budget. They need to be able to work with different teams to coordinate efforts and make sure everyone is aware of their deadlines. They also need to be able to troubleshoot any problems that come up and make sure the project stays on track.
A collaboration between a product manager and project manager is essential for the success of any product. The product manager provides the vision and direction for the product, while the project manager ensures that all the necessary steps are taken to make that vision a reality. By working together, they can create a product that is both successful and profitable.
Is there any overlap between Product and Project Managers?
To a certain extent, yes.
With the right skillset, a project manager can definitely transition into a product manager role. And vice versa.
Both roles require excellent communication skills, the ability to work with different teams, and the ability to stay organized and on track. To identify which role is the best fit for you, it’s important to consider your strengths and weaknesses.
If you’re good at working with numbers and have a background in engineering, you may be better suited for a product manager role. If you’re more creative and have a background in marketing or design, you may be better suited for a project manager role.
At the end of the day, it’s important to choose a role that you’re passionate about. If you’re interested in the product and have a vision for what it should be, you’ll be more likely to succeed as a product manager. If you’re more interested in the logistics of getting things done and ensuring that projects are completed on time, you’ll be more likely to succeed as a project manager.
No matter which role you choose, remember that both product managers and project managers are essential for the success of any product.
Conclusion
Confusion about the difference between a product manager and a project manager is rampant in the business world—and rightfully so. Both roles are essential for the success of a product, but they have very different responsibilities. In any organization, it’s important to have both a product manager and a project manager on board to ensure that the product is successful.
Read more about product management in What is Product Management?
Are you looking for that one tool that will make it easier to work as both a product and project manager? Try out FeedBear for free today! Communicate with your customers, gather feedback and deliver the kind of product your customers will want to use.
