Product (Project Management)

In project management, a product is a physical entity that is created as a result of project work. Another term for it is deliverable. Two kinds of products are created in a project (as per PRINCE2 terminology):
  • specialist products, i.e. the intended results of project work:
    • installed software
    • erected buildings
    • trained people
  • management products, i.e. (usually) documents used to manage the project:
The injection of specialist products into the organization or its environment should be both a necessary and a sufficient condition to bring about changes resulting in achieving project objectives. One of the tools to test that relationship is Goldratt's Future Reality Tree. To develop a better understanding of project's products, one can construct a product breakdown structure or write product descriptions.

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