A product plan and a project plan are not mutually exclusive – they are both helpful for success. It can get confusing sometimes, however, trying to tell the differences between the two. Some people even treat the terms as being interchangeable.
So what’s the difference between a product plan and a project plan plus when do you need each one? In this article, we point out a few slight differences between the two by considering some factors.
Objective
You can tell the difference between a product plan and a project plan based on the purpose that they are intended to serve.
A product plan is concerned primarily with helping to clarify what you want to develop. It helps to make clear how that product relates to initiatives and your strategy.
The main aim of a project plan, on the other hand, is to deliver a very pleasant experience to new customers through certain outcomes. It spells out what must be done to make this possible. The plan basically consists of tasks that have definite outcomes as well as start and end dates.
These two documents usually go together – when you have one, you may also need the other. A project plan is most useful when you have something new to introduce.
Roadmaps
You can also distinguish the two based on their roadmaps.
A product roadmap is a high-level strategic document that displays strategic initiatives, features, and forthcoming releases. It explains what you are trying to do and why in view of your company’s vision and strategy. Looking at it, your teams can easily know what you are trying to deliver for great customer experience.
As for project roadmaps, they provide a high-level overview of tasks and milestones on a timeline necessary to deliver amazing customer experience. The documents help teams, especially cross-functional ones, to know what they are expected to do and by when.
Timeline
A product plan may run for an indefinite length of time. This is because you cannot know at the beginning how long a product will remain relevant. Overall goals and initiatives would determine what work to do at a time.
Unlike a product plan, a project plan has as its aim the delivery of a specified deliverable and is usually time-limited. It relates to tasks and milestones that are necessary for the release of a product.
Supervisor
Who oversees the planning process? This is a very obvious difference between a product plan and a project plan.
Product managers supervise the product planning process while project managers direct the process of project planning. The tools required by each group of product professionals are not the same.
Product managers need tools that help to develop, organize, and explain the product strategy. Those in charge of project planning need tools that help to track and manage everything relating to a project, including requirements, tasks, and milestones.
Product and project plans will often overlap, but that doesn’t make them the same. It is important for product and project managers to work together for success.
Good planning is practically inevitable in your work as a product professional. The factors discussed above may help you understand the differences between a product plan and a project plan. You improve your chances for success when you know the distinctions and when to use each type of plan.
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