Product vs. Project Operating Models - All Things Product Podcast with Teresa Torres & Petra Wille

Listen to this episode on: Spotify | Apple Podcasts

Can an organization operate with both a product and a project mindset—at the same time? In this episode, Petra Wille and Teresa Torres unpack one of the most common operating model questions in product organizations today.

They dive deep into the differences between project and product operating models, when each one makes the most sense, and why the answer to “either/or” is usually “yes, and.” From legacy software roots to modern product teams juggling compliance work and customer outcomes, Petra and Teresa explore real-world examples, practical frameworks, and the importance of staying flexible.

Whether you’re deep in continuous discovery or trying to modernize legacy workflows, this episode offers clarity and nuance around how we frame the work—without getting dogmatic.

Topics Covered:

The Big Question: Can product and project models run side by side?
Defining the Operating Models: Breakdown of product vs. project models. Why outcomes vs. outputs matter.
Why the Shift Happened: How the history of software delivery shaped our current challenges.
When Project Models Still Make Sense: Examples like GDPR, accessibility, and other one-off initiatives.
Gray Areas and Edge Cases: Accessibility, internal compliance, and examples from Petra’s course work.
Framing Work as Product or Project: Why even product teams need to think in project terms sometimes.
Working Cross-Functionally: How to collaborate with HR, Finance, and other departments still in project mode.
Dual Lenses, Not Rival Camps: Seeing your work through both frameworks, depending on context and constraints.
Pattern Recognition Over Time: Learning when to switch models based on repeating challenges.
Feedback Loops and “Done-ness”: How feedback loops reveal whether work is actually finished—or just paused.

Key Takeaways: