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 producs 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:
- business case
- project plan
- reports
To develop a better understanding of project's products, one can construct a product breakdown structure or write product descriptions.