In an organization, you need program and product managers for the success and overall fulfillment of the business goals. However, you should understand the program manager vs. product manager as their roles and responsibilities are different from each other. For this, we have comprehensively discussed information to differentiate the product and program manager with respect to the various aspects and factors.
What is Program Management?
Program management is the process of managing the program through monitoring, controlling, and coordinating multiple projects. It is a way to improve the organization’s performance by mapping out the programs with business objectives. Additionally, the process of program management vs. product management includes leading the project performed by a team to achieve a particular business goal.
This process delivers the value that incrementally moves the program forward. Unlike project management, which handles individual projects, program management focuses on overseeing and coordinating multiple projects. Program managers oversee the planning and execution of various projects to ensure that all projects meet the desired quality standards.
In addition, the program management process creates the opportunity for synergy and effectively manages numerous projects simultaneously. So, the key aspects or factors that are typically included in project management vs. product management are given below:
- It is essential to understand the expected benefits of the program by defining them. This ensures that efforts are directed towards achieving the targeted benefits.
- Moreover, incorporating the stakeholder is also crucial for understanding their concerns, expectations, and needs. You get their support in the program execution process by engaging them.
- Risk management is essential in the program management process and impacts its success. Moreover, identifying the risk at the right time reduces the potential negative effect of risk.
What is Product Management?
Product management is an executive function that manages every step of the product lifecycle, from development to positioning and pricing. This process uses numerous prioritization frameworks for deciding which development activity will help the product meet the required goal. Furthermore, product planning, development, and marketing activities are included in the product management process. Product managers are responsible for launching the new product in the market for customer’s new experiences.
Also, the managers collect the market and customer requirement data to convert it into an actionable plan. Businesses can create fruitful product outcomes by combining customer needs and tech-experts. Efficient product management includes adaptability to market dynamics with strategic thinking. Other than that, there are some critical aspects of product management that should be considered.
- The product management process should include product road mapping to highlight the planned features and enhancements. It also helps in communicating the project trajectory with stakeholders.
- Additionally, continuous monitoring of performance is an essential factor in product management. This ensures that everything aligns with the targeted goals and needs for improvement.
- The management process of the product must embrace iterative development to respond to the changes quickly. Agile methodology development also ensures that adjustment is done according to requirements.
What’s the Difference: Program vs Product Manager
After getting familiar with the program and product management, it is essential to consider the difference between program vs. product manager terms. The roles and responsibilities of the program and product manager are different from each other. In addition to that, some other factors differentiate them. The aspects are given in the table below to get an idea of the difference between them:
|Process of overseeing and controlling multiple programs
|Process of developing, planning, and launching a product
|Resource and risk management with strategic thinking for program coordination
|Manage product lifecycle by developing the product strategy according to customer and market needs.
|They only focus on the long-term strategic benefits and objectives
|Product managers need to focus on the entire lifecycle of the product, including the continuous development and optimization
|Achievement of program objectives and satisfaction of stakeholders
|Customer satisfaction, market share, and revenue
|High-level decision-making affects the whole program
|Decisions based on the design, positioning, and features of the product
|Engage the multiple project stakeholders and leaders of the organization
|Engage with customers and cross-functional teams
Do You Need Both?
There is a difference between the program and product manager, as explained in the above table. Apart from the program management vs. product management scenario, there is a need for both roles in an organization. Both roles in the organization play an essential part in achieving the goal and give benefit to the business.
- Short and Long-Term Goals: The product manager focuses on managing and launching the product in the market. On the other hand, the program manager focuses on long-term goals, so we need both roles for the organization’s overall success.
- Responsibilities Distribution: You need the program manager to oversee multiple projects while the product manager handles the product lifecycle. So, the difference creates the need for both managers in the organization as both have to fulfill their responsibilities.
- Collaboration and Engagement: The organization needs a product and program manager to collaborate with different individuals. The product manager engages the customer and cross-functional team. In contrast, program managers engage organizational leaders and stakeholders.
Program Management vs. Product Management at a Glance
Now, we will understand program management vs. product management at a glance in this section. The factors below include skills, salary, and responsibilities to differentiate both terms and give you a clear understanding.
Program management focuses on coordinating related projects and goals with strategic thinking. This means the manager should have communication and leadership skills for managing the program.
Other than that, product management is the process of handling the entire product lifecycle and fulfilling customers’ needs. Ultimately, the manager should have technical and interpersonal skills to gather the data of the market and customers to manage the product.
Program manager vs. product manager salary differentiates the responsibilities they have while managing the product lifecycle and program execution. The annual average salary of an individual who does product management is USD 159,405 in the USA. On the other hand, the salary of the program manager ranges from USD 79,500 to USD 132,500 in the USA.
The difference in responsibilities leads to the difference in skills requirement of individuals. The product manager should adapt to the customers and market needs for better delivery of products in the market. Alternatively, program managers also need to adapt to the changes in organizational strategy and program requirements.
What Tools Do Program Manager and Product Manager Use?
The role of the program manager and project manager is essential for any organization to fulfill dynamic requirements. However, the program manager vs. product manager table above in the article indicates that there is a difference in their responsibilities. Both have different needs for tools to complete their target at the right time.
However, Feedeo is the perfect tool for showcasing products and taking feedback from customers. It is an AI-powered tool that helps us make interactive videos to interact with customers. Moreover, this tool offers AI avatar images and voices to create customized videos. You can fill the script with an engaging message to deliver to the targeted audience.