What is a “product” in a project?
Basic rule of thumb: a product is something tangible (hold, touch & feel). Software and electronic documents are considered “products” because they can be converted into a tangible form: printing the code set of a software code base, or printing a document.
Personnel, vendors, suppliers and money are NOT products.
Product is the material, which is used for implementing project or for project maintenance. It may be software or hardware and having the unique code.