The following article is a sample from the full BVOP™ Ultimate Guide and is part of the preparation for the BVOP™'s modern Agile Project Management Certification Program.
Project management and product management in the context of the BVOP are related and overlapped subjects and activities.
The term “project” refers to all activities and resources that are needed for creating, implementing, or supplying a specific product or multiple products. The “product” is a material, virtual, or any other beneficial outcome that is used by an audience, or parties who may benefit from it in any way.
The product life cycle and the project life cycle may share common timeframes, resources, and goals. The development of a product may be bound to the project cost, time, resources, and quality variables. Delivery of a project in this context may mean that a product is being developed.
For successful project management, a tight connection and participation between product management and product development may be required.
The Business Value-Oriented Project Management (BVOPM) office needs to understand all activities of the Business Value-Oriented Product Management (BVOPDM) office and to have in-depth knowledge of product management. Additional competencies are required for adequate decision making, supporting, optimizations, and any other activities of the BVOPM office.
Major product management activities of the BVOPM office may include:
- Product stakeholders and users management
- Product risk management
- Participation in decisions
- Product support activities
- Adjustments in product management