Difference between Project and Product

Last Updated : 20 Jun, 2024

A project refers to the series of steps involved in creating software before it becomes available to the market. Once the project is completed, the outcome is termed as a product. The primary goal of a project is to build this unique product, focusing on enhancing performance and ensuring it meets the specified requirements. The product is the end result, intended for users, and its primary objective is to solve specific problems efficiently. Understanding the difference between a project and a product is crucial in software engineering and development.

What is Project?

Also known as a software project comprises the steps involved in making a product before it is actually available to the market. The project can be handled by people which are as less as one person to the involvement of a lot of people (over 100). These are usually assigned by an enterprise and are undertaken to form a new product that has not already been made.

What is Product?

The study of products is a part of Software engineering. The software is built by developers on requests from the customer. After the customer is satisfied with the development process, he launches the software by manufacturing it. This can be a problem-solving software or computer based system. This is the result of a project. The software project, when completed, is called a product after it is available to the market for usage.

The product comes into existence after the project is complete.

Difference between Project and Product

Aspect	Project	Product
Definition	It comprises the steps involved in making a software before it is actually available to the market.	It is the manufacture of the project for users.
Goal	The main goal of a project is to form a new product that has not already been made.	The main goal of the product is to complete the work successfully (solve a specific problem).
Outcome	Project is undertaken to form a new software.	Product is the final production of the project.
Focus	It focuses on increasing the performance of the software that is being built.	A product focuses on the final result and the efficiency with which it can solve the given problem.
Frequency	A project is done only once to get a new software.	A product can be made again and again for the purpose of distribution among users.
Risk	It is more risky as here, a software is being made for the first time.	It is relatively less risky as the software has already been made and tested. The only risk in most cases would be of wear and tear.
Management	It is handled by the project managers.	It is handled by the product managers.
Existence	It exists before the software is made.	It exists after the completion of the software development phases.
Budget	It has some cost barriers as the enterprise sets a fixed budget for the project.	It has no cost barrier as it is continued to be developed only as long as the distributing enterprise is profitable.
Planning	Project is based on Predictive planning (up-front).	The product is based on adaptive planning (iterative).