When an organization has a project that needs to be executed there is a need for a Project Manager. A Project Manager is responsible for the successful delivery of a project. This is a one time task with a goal, scope, deadline and budget. There is a defined beginning and end. They follow these five traditional steps:
- planning and design
- execution and construction
- monitoring and controlling systems
Once the project to build the product is complete and the project manager has moved on, the product manager remains to manage the product through the entire life cycle. The Product Manager is then responsible for the overall and ongoing success of a product. They analyze the marketing conditions and defining features of a product.
Project and Product managers use different methodologies when carrying out projects. Two of the most used methodologies are waterfall and scrum. Waterfall follows the idea that as soon as one step is completed, it is over with and a new step starts. There is no flexibility in this methodology. Agile is the second methodology and the more popular one. It is very flexible and allows for change dependent on feedback and testing.