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A part of this book will introduce the reader to key concepts of project management which can be useful in bringing a product to market in a timely and efficient manner. Of course, the project manager, or leader, plays a key role in planning how the work will be accomplished, how it will be executed, and by whom. Further, this book will provide insights and processes in developing new products. It is not a book about project management; however, because project management (PM) is such a core skill needed to successfully launch new products, the reader will find key PM concepts detailed throughout the book. This will offer a good grasp on how to manage a project using these techniques and the reader is encouraged to pursue further reading on the topic of project management. It will be apparent that “product management” and “project management” are used interchangeably.

It should be noted that product development requires a multi-discipline approach, with each participating department understanding their role and responsibility. Many times, people have described PM as similar to herding cats. Product development will have similar challenges.

Through research, my own experience, and discussions with product development professionals, it is clear that project management plays a strong role in staying focused on the scope, budget, and schedule for the new product’s development. Successful companies have recognized over the last 20 years that project management processes are a huge competitive advantage. It has always been the author’s perspective that successful product launches require two ingredients: technical excellence and managerial excellence.

In recent years, there has been a drive to embrace an agile project management philosophy. This is much more suited to software and IT projects and certainly has its place in that industry. The primary differences between traditional and agile project management will be presented in Chapter 5.