Additionally, though two roles are quite different, there would be certain tools which are going to be common. I would agree that each product going through its life cycle needs a creative, iterative thinking to remain current and futuristic to maintain its mature stature and be still actively fighting in the market. However, each of these thoughts, their costs, schedule and quality will need tracking to make the product continuously viable. Thus product manager will have to have some tools shared with the project managers.

Also, there is no product built without a time horizon in mind. Agreed that path breaking products are, at times, ahead of their times. But if you look at majority of products, time to market is important. If you cannot be on time to the market, you may not even build the product.

But I’m not fully with you saying that Product Management doesn’t work with defined days. It’s not about getting a list of things to do as in Project Management but, Product Managers need to negotiate with project managers about the scope that’s feasible to do within a given date – and this usually happens on weekly basis. And more than that, marketing & sales needs to know in advance what they will get so they may prepare right strategy of advertising and selling. And these dates are usually quite precise – we are talking about couple of days or one or two weeks.

Based on how things go in project management, you, as the Product Manager, need to adjust your initial market & competitive strategy for a product release that you targeting. This is also something you need to do on regular basis.

It would be nice if you can point more specifically to the tools you are talking about, because in some situations, there are tools that are used by project and product managers.