Product (project management)
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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.