Difference Between Portfolio Management And Product Management
Here are the following difference between Portfolio Management and Product Management :
|
Aspect |
Portfolio Management |
Product Management |
|---|---|---|
|
Meaning |
Portfolio management oversees many projects or investments to meet overall company goals. |
Product management guides a product from idea to market, ensuring it meets customer needs and business goals. |
|
Focus |
Portfolio management handles many projects or investments. |
Product management deals with one product or service. |
|
Scope |
Portfolio management manages many projects or investments across the organization. |
Product management manages one product or service’s development, launch, and lifecycle. |
|
Responsibility |
Portfolio management prioritizes projects, allocates resources, manages risks, and tracks performance of the whole portfolio. |
Product management defines the product vision, gathers requirements, coordinates with teams, and ensures product success. |
|
Time Horizon |
Portfolio management plans long-term for the whole portfolio. |
Product management focuses on short-term goals for the product. |
|
Stakeholders |
Portfolio management works with various people in the organization and clients or investors. |
Product management collaborates with internal teams and external customers or partners. |
|
Performance Metrics |
Portfolio management measures overall benefits, returns, and alignment with company goals. |
Product management assesses success through customer satisfaction, revenue, and market share. |
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Difference Between Portfolio Management And Product Management?
Portfolio management and product management are important roles in any business. Portfolio management is about handling a group of projects or investments to help the company reach its goals. Product management, however, is about creating and looking after a specific product from start to finish. Knowing the differences between these roles helps companies use their resources wisely, manage risks, and make sure their projects and products support their overall aims.
In this article, we are going to learn the difference between portfolio management and product management.
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