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In the field of information technology it is true that product management has become (or is in the process of becoming) much more important than project management. Businesses find plenty of advantages in product-centred delivery. Modern technology and management techniques are clearly major enablers of this trend: DevOps; cloud and virtualization; mirco-service architectures; lean and agile.
for me, product development and project delivery are the two sides of the same medal.
The one focuses on the what and the other on the how.
A PMP will give you a leverage you do not know before you have it. It is not the certificate that increases your value but the knowledge and understanding you acquire. And the self confidence you get with it. It changed the lifes of many, including myself.
While certain industries and companies might choose to shift a portion of their work from being project-centric to product-centric, there will always be the need for PMs to manage unique, complex changes.
This might mean that existing PMs have to keep upping their game to remain competitive but that is no different than most other occupations...
I don’t think this is true. You need project management skills to manage a product as well and like Kiron said, there will always be need for PM’s.
Thanks to all of you for your replies.
I have adapted Project Management as part of my life style. The biggest and most critical Fixed Price Project I ever executed was my younger Sister's marriage :-) (anyone from India will agree with the dynamics of Indian middle class family). I delegated, monitored, budgeted, and planned this extensively. Delegation was important because I am physically challenged (to small extent). MS Project remained very useful in this Project :-)
I am trying to manage this by staying abreast with technology - as much as possible. Thanks for responding.
Product management is a lot closer to operational work than it is to projects. A project can be used to move a product along its life cycle.
Product Management and Project management are both sub-sets of management in general. In both you are required to manage costs, time, quality, risk, resources (internal and external), stakeholders, communications, procurement ... In order to do that successfully you need to plan and execute. You have to navigate the most effective way to deliver. Yes, there are differences in processes but I believe someone proficient in one can quickly adapt to the other. Its a matter of shifting your mind a bit.
Each one specializes to reach a goal... delivery of the results. Product Management tends to be more of an operation. A product manager might not be the best fit for a one time construction of a refinery, designing and building a unique ship, etc... Likewise, a project manager might not have the specialized knowledge to manage production (which might be repetitive).
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