In Agile Project Management, product development is primarily concerned with the evolving solution/product—its outcomes, user value, and the means to achieve those outcomes through iterative delivery. Guidance emphasizes shaping features, quality attributes, and acceptance criteria so each increment is fit for purpose. While product work certainly happens in timeboxes, the explicit stewardship of time-based drivers (milestones, budgets, governance checkpoints, wider stakeholder scheduling) sits mainly in project management. AgilePM distinguishes the project context (business case, governance, roadmap, release planning) from the product-focused work (defining and building valuable increments). Hence statement 2 accurately reflects the heart of product development: “focus on what the product is… and how to achieve that.” Statement 1 maps more closely to project-level planning and coordination responsibilities that ensure the environment, cadence, and constraints enable delivery. Agile practice uses timeboxing and MoSCoW prioritization to protect time/cost/quality, but these mechanisms belong to project/delivery management rather than defining the essence of product development. Therefore, only statement 2 is true.