Product is an artifact that is produced, is quantifiable, and can be either an end item in itself or a component item. Products are the tangible or intangible outcomes created through project work and are delivered to satisfy customer, stakeholder, or organizational needs.
A product may be a standalone deliverable or part of a larger system, and it can be physical, digital, or conceptual.
Key Characteristics
- Quantifiable Output – Can be measured, verified, and validated
- End Item or Component – May serve as a finished deliverable or part of something larger
- Customer-Focused – Created to meet requirements and deliver value
- Central to Scope – Directly tied to the project’s defined objectives
Example Scenarios
- A manufactured engine part delivered as a component of a vehicle
- A software application released as the final deliverable of a tech project
- A training curriculum developed for organizational capacity building
Why Product Matters
- Defines Delivery Objectives – Anchors the project around a concrete goal
- Enables Value Realization – Serves as the means for delivering benefits
- Supports Scope Definition – Clarifies what is included and excluded in the project
- Drives Acceptance Criteria – Provides a basis for stakeholder approval
See also: Deliverable, Project Scope, Work Breakdown Structure (WBS), Requirement, Value Delivery.