Project Management is a system for attaining a targeted output or result with the assistance of a group of people within a scheduled time frame and a "not to exceed" budget
- Abdul Malek Tushar in Managing Projects.
Any claims by agilelist that product development is not project management is false. Product development has a targeted output, using resources (people, processes, and tools), in a targeted time frame (the product release date to start accruing revenue) for a targeted budget (in that target time frame the break even goal is revenue minus cost to produce that revenue).