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This paper is basically an overview, practitioners approach and best practices of software product management. The basic functions of software product management, right from product concept, prototype development, requirements management, product planning, planning product lines, product development, product testing, product launch and deployment, product marketing, aligning product management with program management, the relationship of product management with individual project management and product withdrawal are discussed in this paper. This paper high lights some of the best practices of software product management and managing individual software projects. This paper gives a bird eye view of software product management with a block diagram, shows the relationship between product management and individual project management, product roadmap, different releases of software product and their relationships and flow of software product from one version to another version.