Program Manager vs. Product Manager vs. Project Manager: What’s the Difference?
These job titles look remarkably similar and, in many organizations, they are used
interchangeably. But they have unique features and skills which give them distinct
functions within companies. In the following examination we will examine each function
separately so you can see how each is separate from the other and how each is vital
within a company.
Program management are the processes involved in designing, coordinating and upgrading
a company’s internal and external programs. They ensure that what they develop and
shepherd are perfectly synced with the company’s goals and vision. They will manage
a portfolio of multiple programs and ensure the timely delivery of produces under
different programs. Program Managers answer the following questions regarding products,
looking more wholistically:
- How to best utilize time and human resources for product training?
- How much budget should be allocated to these initiatives?
- When should the marketing department start working?
Program managers will have a range of responsibilities depending on their portfolio
at the moment. These could include:
- Expanding program offerings to improve quality
- Developing new strategies for the program team
- Analyzing risk and developing risk mitigation plans
- Working with HR to manage staff and resources
- Managing budgets and reporting on fund allocation
- Reporting on program performance to the executive team
- Serving as a liaison with marketing and customer service
- Developing industry partnerships and identifying opportunities for improvement
A program manager will need a specific skill set including many talents like these:
- Knowledge of project and program management methodologies
- Experience in program management and team management
- Understanding of budgeting and resource allocation
- Conflict resolution and problem-solving skills
There are a host of tools that have been developed to assist program managers in managing
this work and keeping up with the volume of work and details involved.
Product managers drive business through innovation, improvement and support. They are
executives who take responsibility for one or more product lines of a business, from
conception to its final marketing. They manage a product’s complete lifecycle. From
birth to graduation. They identify the customer need and prioritize the product.
Create the vision. They are responsible for the smooth execution of that vision by
working with all the departments to bring that vision to life: design, engineering,
sales, marketing, customer service. And ensuring that it fits in with the company’s
overall strategy and goals.
The Product Manager is ultimately responsible for the success and failure of their
product and so needs to be able to answer these questions:
- Why build the product this way?
- Who is the target market? The buyer avatar?
- What is the optimal price point?
- What are the features and functions to prioritize?
Like Program Managers, Product Managers have a particular set of responsibilities
within the organization. Product Manager must:
- Develop, align and execute product strategies with the company vision
- Create timelines for the product development process
- Gather and analyze feedback to design product requirement and features
- Identify areas of growth and create product roadmaps in the target market
- Make recommendations to expand the product base
- Supervise all the stages of the product lifecycle
Product Manager have a different skill set than program managers which includes:
- Creative thinking and attention to detail
- Excellent communication, presentation and leadership qualities
- Knowledge of Agile methodology
- Analytical and problem-solving skills
The third job in this triple crown is the Project manager. They are responsible
for delivering a specific function on time and on budget. This requires keeping
to timelines and schedules in coordination with teammates and managing all issues
that arise which create conflicts in the process. Project Managers answer these
- What is the capacity for different teams?
- What is the best strategy to make the best decision?
- What are the best resources to allocate?
- How can the company ensure delivery in the timeliest fashion?
Project managers like the previous two positions have certain responsibilities .
that they must fulfill to ensure their success including:
- Creating project plans
- Managing cross-functional work teams
- Tracking schedules, budgets and resource utilization, risk and issues
- Rolling completed projects up to program level
Project managers skill set is some the same and some different from the other two.
It includes talents like:
- Budgeting and forecasting
- Meeting facilitation
- Risk management
The best company invests in program management, product management and project
management. This creates the best of all working environments.