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What is difference between product development and project management?

What is difference between product development and project management?

I think it is hard to compare as u didn鈥檛 define both in specific manner like regarding which area u r talking about? both are similar under some contexts & sometimes come under two different categories. Product development is developing an existing product which you/your company have according to gain more profit or to increase the productivity of that product. If it is a commercial good, then u have to do a market research, & maybe you want to do a SWOT (Strength/Weaknesses/Opportunities / Threats) analysis or any other thing like that to identify the methods of doing it. Project management is managing a set of individual as well as interconnected multiple tasks to gain a common out put. This involves lots of activities same as product development.

A project manager oversees the product development

Example:

If you design a house, you could be the 'project management' to make sure that it's built exactly to your specifications, you be responsible for ordering the parts.

The 'project development' is the workforce that cuts the wood and builds the house for you.

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