Project Manager and Product Owner

The role of the project manager

The project manager has the overall responsibility for the successful initiation, planning, design, execution, monitoring, controlling, and closure of a project.

The role of the product owner

The product owner is responsible for:

• Product success
• Understanding user/customer needs and business goals
• Acting as the liaison between stakeholders and development team
• Owning the product on behalf of the company
• Being empowered to make any necessary decisions

Comparing the project manager (PM) and product owner (PO) roles

• The project manager is strategic and outbound, whereas the product owner is technical and tactical -- inbound.
• The PM aligns with other PMs, marketing, sales, and customers, whereas the PO aligns with the stakeholders and the development team.
• The PM defines the project scope, whereas the PO defines iteration objectives.
• The PM creates a project plan and writes the work breakdown structure (WBS), whereas the PO creates the product backlog and writes acceptance criteria.
• The PM owns the vision and release, whereas the PO owns the implementation and iteration.
• The PM optimizes the time, costs, and budgets; the PO optimizes business value.
• The PM manages the project team, project schedule, and risks; the PO leads product backlog grooming to decompose/establish stories.

Source : collection from Internet