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Guest post by: Nitesh Ranjan Bharti Become an Author

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Product management is a well-understood concept every industry except technology. The role of product management varies from strategic to tactical. The strategic role of product management includes various activities including being the messenger of the market, delivering information to departments that need market facts to make decisions. Companies that do not realize the importance of product management have to witness a series of expansions and layoffs. Product management is a role that can manage the ups and downs in an organization and push it to the next level of performance. It also communicates any opportunity that comes its way to the executive team with proper business rationale along with the risk assessment and forecasts. A successful product manager focuses on satisfying the needs of the customers and addresses all their problems. He is responsible for voicing out the needs of the customers as well as taking care of them. An efficient Product Manager specifies what the goal is: they should not propose solutions, and neither should they get involved in technical design. However, they may review several proposed solutions and express a preference for one when the solution makes a difference to how customers relate to the product.

AstroWix offers training in product management teaching managers how to develop as well as maintain the product ensuring the growth of the organization. Product Management empowers the sales effort by defining a sales process, supported by the requisite sales tools so the customer can choose the right products out of the options offered to him. Project management differs from product management .Project management ensures the successful delivery of the project within the budget and the deadline. A project manager will work to manage resources and coordinate all of the various endeavors to achieve successful completion of the project. Although projects can be undertaken to build a product to add features to it .Product management on the other hand is responsible for the overall and ongoing success of the product. Once the project to build a product is complete it becomes the responsibility of the product manager to manage the product through its entire lifecycle. Product management often plays the role of supporting developers with user requirements, project scheduling in short taking care of the whole process. A product manager investigates, selects, and develops products for an organization, performing the activities of product management. A product manager considers numerous factors such as intended demographic, the products offered by the competition, and how well the product fits with the company's business model. He manages one or more tangible products. However, the term may be used to describe a person who manages intangible products, such as music, information, and services.

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