There are two key roles in product management: the product owner and the product manager. While they may seem similar, they have quite different responsibilities.
The product owner is responsible for the vision and strategy of the product, while the product manager is responsible for the day-to-day operations of the product.
In this blog post, we’ll take a closer look at the difference between a product owner and a product manager. We’ll also examine a case study to see how the two roles differ in practice.
Who are the Product Owner and Product Manager?
Product Owner
A product owner is someone who is responsible for the success of a product. He is in charge of the product backlog, which is a list of features or requirements they prioritized for the product. The product owner ensures the team is working on the most crucial items in the product backlog and that they are prioritized. More specifically, he is in charge of keeping in touch with all relevant parties and making sure they approve of the final output.
Product Manager
A product manager is responsible for the development and management of products throughout the product life cycle. This includes managing the product roadmap, gathering and prioritizing product requirements, and working with engineering, marketing, and sales to launch the product and ensure it meets market needs.
The product manager is also responsible for ongoing product management activities such as analyzing customer feedback, monitoring competitor activity and ensuring that the product remains aligned with the company’s overall strategy.
In order to be successful, a product manager must have a deep understanding of the market, the customers, and the product. They must also be able to effectively communicate with all stakeholders and have strong project management skills.
Key Differences between Product Owners and Product Managers
The main difference between product owners and product managers is that product owners are responsible for the product vision and strategy, while product managers are responsible for the day-to-day management of the product.
Product owners are responsible for creating and maintaining the product roadmap, which is a high-level view of the product strategy. They work with the development team to ensure that build the product to meet the needs of the customer.
More so, they work together with the development team to ensure that the product satisfies the needs of the customer. They work along with the marketing team to make sure they market products to the right audiences and in the right locations.
Skills and Qualifications
The Product Owner is responsible for the product vision and strategy, while the Product Manager is responsible for the day-to-day management of the product. The Product Owner needs to have strong strategic and analytical skills, while the Product Manager needs to have strong project management and execution skills. Both roles require excellent communication and stakeholder management skills.
Salary Comparison
Product owners and product managers are responsible for different aspects of a product’s development and success. Product owners are responsible for the product’s vision and strategy, while product managers are responsible for its execution and delivery. As such, salary comparisons between the two roles can vary depending on the company, the product, and the stage of development.
In general, product managers tend to earn higher salaries than product owners. This is because product managers are responsible for a product’s success from start to finish, while product owners typically only have responsibility for the product’s vision and strategy. Additionally, product managers tend to have more experience and expertise than product owners, which can lead to higher salaries.
However, there are exceptions to this general rule. In some cases, product owners may earn more than product managers. This can be due to the product owner’s experience and expertise, the size, and scope of the product, or the stage of development. Additionally, some companies may place a higher emphasis on the product owner’s role, leading to higher salaries.
How Product Owners and Product Managers Look at Projects
A product manager sets the direction for a product. He or she is responsible for planning and executing product strategy, developing the product roadmap, and laying down the foundation on which the product is built.
By contrast, a product owner focuses on the vision of the product, as well as strategy and business goals. He or she maintains clarity on the overall goal of the organization while helping to communicate the product roadmap clearly to colleagues and stakeholders. He or she primarily guides product development and works with the product team to evaluate feedback from customers.
When it comes to product iteration, it is often the case that a product is further developed as a result of feedback received from the product owner. The product owner builds buy-in for products and the direction of the organization.
Product owners are in charge of platform strategy, they decide which technologies are going to be used to build the product.
While it is their job to make some sense of product backlog, they shouldn’t be working in isolation. They must work closely with designers, analysts, developers, and other product leaders and collaborate on the overall product strategy, as well as in the execution.
It’s common to think of the product owner as a gatekeeper. Your product owner won’t be able to comprehend the customer journey or have access to project management, resource allocation, or scope if they are not a party to the actual development of the product.
Product Owners Excel At
Product owners excel at setting up outlook reminders while meeting notes must, above all, be easily readable.
The Director of Product Management at Productpeople was honest enough to admit that organizing and managing information within a large team of product managers is often a surprisingly tough task. A product owner’s lead role is to help others understand the business and provide the necessary direction to build the product. This is what Donald Miller, an American author, has built into his definition of the title: “the person responsible for the vision and strategy of the product.”
Product management consists of many different skills. Organizing information in inboxes, managing complex, conflicting priorities, and keeping track of data across projects and teams are at the core of projects led by group product owners.
Product Owner or Prodcut Manager: Which do you prefer to be?
From their key roles, similarities and differences we’ve discussed, I think your preference should base on what you really want. Your decision should be inline with your personality and professional know-how.
For someone, he might prefer being a product owner for the following reasons or more:
First, a product owner is typically more focused on the product itself, while a product manager is more focused on the business side of things. Second, a product owner is more likely to have a technical background, while a product manager is more likely to have a business background.
Third, a product owner is more likely to be involved in the product development process from start to finish, while a product manager is more likely to be involved in product planning and strategy. Finally, a product owner is more likely to be able to make decisions about the product without needing to get approval from upper management, while a product manager is more likely to need to get approval from upper management before making decisions about the product.
On the contrary, someone might prefer being a product manager. Why?
First, a product manager is typically more experienced in product development and management than a product owner. This means that a product manager is better equipped to make decisions about the product and its roadmap. Second, a product manager is more likely to have a broader perspective on the product and the market, which can be helpful in making decisions about the product. Finally, a product manager is typically more involved in the day-to-day operations of the product, which gives them a better understanding of the product and its users.
Last Words
A product owner provides the strategic vision for your product. They have most of the responsibilities of an executive for the product itself. Because of this, they’re important to building a product from the ground up. His main role is to buy into the vision and strategy of the product. They think about what’s important, and they incorporate these concerns into their recommendations. They become an ambassador of your product.
The product owner should be the main point of contact for communication with users, from both technical and customer service perspectives. There’s usually one product owner per product, although this often depends on the company culture.
The product owner is there to manage their team so they can be available for communication while keeping the product rolling and relevant. Many products you’ll find online are the creation of a product owner and their team of collaborators. It’s their vision that creates a great product.