What's up awesome people! Welcome back to my
channel.
Joshua Partogi here. In today's video,
let's talk about something really
important, that is the differences
between project management and product
management because there are still
growing misconceptions in the market. A
lot of people still think that Scrum is
an agile project management methodology.
Let's bust the myth because Scrum is a
product management framework. If you're
curious about the differences between
project management and product
management, stay tuned sit back and relax
because I'll be back right after ... this.
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When comparing project management and
product management, we must first compare
the definition of project and product.
According to Project Management
Institute (PMI), a project is temporary in that
it has a defined beginning and end in
time and therefore the defined scope and
resources. According to Merriam-Webster
dictionary, a product is something that
is made or grown to be sold or used.
Based on that definition, we can now
compare the project life cycle and the
product life cycle. A product life cycle
is generally longer than a project life
cycle. The project life cycle starts when
the organization initiated the project
and it ends when it has reached the
deadline that has been defined during
the project initiation by the project
members and the stakeholders. The end of
the project life cycle is defined by the
internal organization. A product life
cycle starts when the product can be
used by the user and it ends when the
product is no longer sellable in the
market. As you can see the end of the
product life cycle is defined by the
customers, that is when the customer no
longer wants to use the product. A
project may have a goal to deliver a
product or a certain features in the
product. It is possible that one product
life cycle consists of several projects.
It is also possible that a product life
cycle is shorter than the project life
cycle because the product has already
died before the project even completed.
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Based on the differences between the
project lifecycle and the product
lifecycle we can now compare the success
criteria of a project and the success
criteria of a product. A project is
deemed successful when it has been
delivered on time, on scope and on budget.
But the product is deemed successful
when it is sellable and generates profit
for the organization that created it. A
product that is delivered on time, on
scope and on budget may not necessarily
be valuable for the customers and
sellable in the market. A successful
project may not necessarily deliver a
successful product and if the product
failed in the market the company
actually already wasted a lot of money
one known example here is Windows Phone
7, which is quite ambitious but it's not
really sellable in the market. In the
context of project management paying
technical debt in the middle of the
project lifecycle is considered
unnecessary because it will add more
scope and it will make the project
delivery late but in the context of
product management paying technical
debt is required as doing so will
increase the value of the product. The
case of Boeing 737s max is one of those
examples where a company is more focused
on the project triangle but neglected
the technical debt in the code which has
cost two airplanes crashed and caused death.
According to Scrum Guide, Scrum is a
product management framework rather than
a project management methodology. Scrum
goes beyond just delivering a product,
Scrum is about sustaining a product. The
product backlog will keep growing as
long as the product is still being used
by the user. As the main focus of Scrum
is to sustain the product, in Scrum we
consider a project as one Product
Backlog item (PBi) that has not yet been
refined into smaller pieces. So you can
say the Product Backlog can consist of
several projects and the scope of Scrum
is much broader than just projects.
Therefore the role of product owner is
actually much broader than the role of
project manager. The project managers or
even the program managers work and
report to the Product Owner. To be
successful with Scrum organizations must
use it as a product management framework
rather than as a project management
methodology. When using Scrum the
organization goal should be about
making the product as valuable as possible in
the market rather than just delivering
it on time, on scope and on budget.
Organizations should have a broader
perspective to sustain the product as
long as possible
in the market. When the organization use
Scrum as a project management
methodology, the Sprint in Scrum will
look like a mini-waterfall. Mini-
waterfall will demoralize the
development team and it will make the
development team suffer. So that is all
from me today folks
I hope you gain insights after watching
today's video. If you did gain insights
after watching today's video don't
forget to smash that like button and
don't forget to subscribe to my channel
because I'll be posting more videos in
the future.
See you until my next video
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