Product Lifecycle Management (PLM) is a systematic approach to managing the changes a product goes through in its lifecycle. This is from inception, through design, prototype, and manufacture. It continues towards – launch and marketing, and ultimately retirement from the market. Product lifecycle management is considered, by many, one of the strategic pillars of an organisation’s IT structure.
COURSE OBJECTIVES
Understanding of the stages of product lifecycle management and the elements associated with each stage
For a product in the “market,” understanding the phases of a product lifecycle is key.
Understanding of the principles of Design Thinking, Lean Mindset, and Agile Principles and aligning them with the outcomes of Value, Flow, and Quality
Examples of best practises for various stages in the product lifecycle
The identification and process of knowing how to retire a product when the time is appropriate.
Confidence and experience in managing the product lifecycle and understanding some of the key challenges are required.
The identification and the difference between project-led and product-led organisations
The understanding and capability of Product Lifecycle practises and tools required to take an idea through the entire product lifecycle
COURSE OUTLINE
Introduction to Lifecycle Management
Lifecycle Management Overview
Introduction to Product Lifecycle Management
The Advantages of a Product Lifecycle
Why do organisations need product management?
What is product management?
Product Definition
Product definitions
Product examples
Attributes of a product
Product Development Frameworks
Delivering customer value through products
About product mindsets
Getting started with a product mindset
Product Management Value Flow Quality (VFQ) Framework
Value Flow Quality (VFQ) guiding principles
Delivering value early and often
Optimizing the flow of work end-to-end
Discovering quality with feedback
Introduction to Product Lifecycle Project Phases
Concept of the Beginning of Life (BoL)
Development
Prototype Launch Manufacture
Middle of Life (MoL) Distribution
Product Use
Service
End of Life (EoL):
Retire
Recycle
Responsibilities of a Product Team
Adaptive Leadership
Three key areas of focus
The role of a product team
Responsibilities of a product team
TARGET AUDIENCE
Product managers, Project Lifecycle Management project team, product marketing managers, IT professional and Entrepreneurs.
