Effective product management certainly depends on the coordinated efforts of a cross-functional team, but from our experience and research, product success can be highly correlated to the instrumentality of the product manager. At MIDIOR, we believe that product management is a critical discipline, but it is often misunderstood and even more frequently, insufficiently leveraged. Accelerating new product success means more than accelerating the development cycle- it means you need to be accurate about what you will deliver and excellent at delivering it. Check out the results of MIDIOR's 2014 Benchmark Study of Product Development and Management Practices. The Open Product Management Workflow™ is a step by step guidance for product managers, which can be used for free under the following license. Nobody and nothing is perfect, therefore the Open Product Management Workflow™ is a community project, where everybody's own experience and knowledge can flow into. There is a lot of interesting conversation going on within the project management, product management, and agile software development communities. Project Management: The application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. Project Manager: Person assigned by the performing organization to achieve the project objectives. The Product Development and Management Association define product, product management and product manager.
Product Manager: The person assigned responsibility for overseeing all of the various activities that concern a particular product. Program: A group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually, Programs may include elements of related work outside of the scope of the discrete projects in the program. Program Management: The centralized coordinated management of a program to achieve the program’s strategic objectives. If you aren’t good at making changes to your product or the capabilities in your organization that relate to your product, you won’t be a successful company.
Despite the perspective of many in the project management and product management communities, Agile is also not intended to be no planning, no documentation, irresponsible software development. Most of the organization’s that I have been involved with that are failing to deliver software to the business or the business’ customers are failing to receive value because of deficiencies in one or all of the domains in this discussion.

The discussion we need to be having is not about how each domain contributes to problems for the other domain.  This is an interdependent problem, not one that has its roots in any one domain. In order to be accurate, you need to understand the business of your product as thoroughly as you understand the development specs.
We support product teams in identifying target markets, defining and prioritizing product requirements, accelerating key initiatives, reducing cycle time and improving bottom line performance a€“ essentially anything a product manager would do. You can develop this workflow together with our community, so that every product manager can profit from the world wide knowledge. There is contention between (and within) the different communities regarding the value and benefit from the other domains. At the end of the day, everyone’s interest should be to improve their organization’s ability to profitably create value for the customer.
The Project Management Institute has the following definitions of project, project management and project manager. Products are bundles of attributes (features, functions, benefits, and uses) and can be either tangible, as in the case of physical goods, or intangible, as in the case of those associated with service benefits, or can be a combination of the two.
The Product Manager decides what needs to be built and also how the organization will sell it and support it.
Neither is Program Management, However, there are projects to execute in the modifying of the product, so project management processes matter in product management.  Here is a Venn diagram that describes the relationship.
So project management isn’t product management, but there is overlap in practices and both are important to your organization. In fact, the Agile Manifesto is short for the proper title of Manifesto for Agile Software Development. We’ve discussed the relationship of Project and Product Management above.  You need to be good at Project Managing all aspects of change to the product and the capabilities in the organization that support and are affected in any way by the sale, delivery, billing, and support of the product to the customer. Often, the deficiencies are the result of conflict and lack of coordination with another domain.
Bunkering down, defending incompatible practices, focusing on local optimization at the expense of the business is not going to work. In other words, you need to have a€?all of your wood behind one arrow.a€? From taking responsibility for where and how the product or service touches the customer, to the myriad business and technical dimensions of the product as it crosses functional lines within the organization, the buck stops at the product manager.

Each of these areas has something critical to contribute to this goal – but the benefits are only realized when the communities work together.
Agile is an approach to software development that includes practices and principles that can result in dramatically faster and higher quality (therefore less expensive) development of software. Also, Agile isn’t concerned with Procurement – but procurement is important to the profitability of the company. It is through an effective coordination between these domains that value is delivered to the customer.
Its only a part of it play the project management and some play the product management too.
Other times, a community is casting blame for limitations in their ability to perform to another domain.
I want to define a few terms, identify the overlap, and then suggest why this discussion is not just an academic exercise, but it an important part of the maturing of each domain. And while iterations are a Risk Mitigation tool, Agile does not have a specific Risk Mitigation aspect to it. How do we align the product management and project management practices with the rapid, incremental delivery of working software to optimize benefits for our customers and profitability for our businesses? Much of the conversation is based on a limited understanding of what the other domains actually do.
If the right features, communications strategy, distribution channels and price are established being faster, cheaper, and better at software development doesn’t matter. They also fall into the trap of generalizing a specific unpleasant experience to encompass the intent of the other community.
Value is created through aligning the other capabilities within the organization and often actually delivering the product to the customer through Project Management.

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