A product is something which can be exchanged with others, transferred into their agency, for them to own and use.
They don't have to use it or indeed 'be a user' - it is up to them whether or not utility is derived. The only requirement is that it is exchangeable and that agency has been transferred.
A project is some activity which has an expectation of changing state over time.
Project management means projecting the scope and sphere of that activity into the future, in order to change its state in such a way, hopefully, that something exchangeable is produced. Product management means, making sure a satisfactory exchange occurs between the creator of a product and its new owner.
So many people get this wrong.
It is not a product if it's a project. It is only a product once it has been exchanged with another entity for their purposes.
You can have many, many projects which will never become products, because they won't be exchanged with others. You can have products which are valued by their owner in ways unintended by their creators. The value and utility is arbitrary to whether or not something is a product - the only requirement for something to become a product is that it is exchanged.
Successful product(S) are exchanged at scale. A single product can be very successful if the scale of that exchange is high. A lot of products can be very successful if the number of exchanges is great.
Until the exchange occurs, it's not a product. It's a resource. Inventory.
They don't have to use it or indeed 'be a user' - it is up to them whether or not utility is derived. The only requirement is that it is exchangeable and that agency has been transferred.
A project is some activity which has an expectation of changing state over time.
Project management means projecting the scope and sphere of that activity into the future, in order to change its state in such a way, hopefully, that something exchangeable is produced. Product management means, making sure a satisfactory exchange occurs between the creator of a product and its new owner.
So many people get this wrong.
It is not a product if it's a project. It is only a product once it has been exchanged with another entity for their purposes.
You can have many, many projects which will never become products, because they won't be exchanged with others. You can have products which are valued by their owner in ways unintended by their creators. The value and utility is arbitrary to whether or not something is a product - the only requirement for something to become a product is that it is exchanged.
Successful product(S) are exchanged at scale. A single product can be very successful if the scale of that exchange is high. A lot of products can be very successful if the number of exchanges is great.
Until the exchange occurs, it's not a product. It's a resource. Inventory.
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