Difference between Project and Product

In this post i am sharing what is project and product and difference between them.  In IT industry we heard two different terms project and product. First let me define what is project and product.. If software application is developed for specific customer requirement then it is called project whereas software application is developed for multiple customers then it is called Product.



Let me explain this with examples. Suppose we have a IT company that is contains multiple customers. Example: SBI,ICICI,HDFC etc.. suppose SBI bank is approach the company and that company decided to develop a software for this particular bank. That is called a project. This particular project only for specific customers. That is the reason we have called as project. The same project can not be used by some other customers. This is only specific to that customers.

And the product is not like that. The product will satisfy multiple customer requirements. For example, let us say Ms-Office, Ms-word, MS-EXCEL software's. They are product from Microsoft . Those products are can be used by any number of customers.

That is implemented for multiple customers. So these are all comes under the product. So that is the main difference between project and product. If software application is developed for specific customer requirement then it is called project. If software application is developed for multiple customers then it is called Product