Product Management - ANSWER- process of conceiving, planning, developing, testing, launching, delivery and withdrawing products in the market. PMF - Product Management Framework - ANSWER- Product lifecycle (Product Development + Commercialization) stages plus their phases and gates. PMF Benefits (5) - ANSWER- 1. define common language 2. provides standards for launching a products in each phase 3. allows product teams to develop and communicate mutual product plan commitments 4. empowers product team to execute based upon agreed upon objectives and schedules 5. facilitates continuous improvements to products and processes. Prodbok (body of knowledge) - ANSWER- strategies, methodologies, concepts, terms and activities that make up the product mgmt. and marketing domains as defined by AIPMM. Applies to any product or portfolio, across industries, throughout each phase of the product lifecycle. X-Axis PLC Stages (6) - ANSWER- 1. New product dev/acquisition 2. introduction 3. growth/maturity/decline 4. withdrawal 5. commercialization 6. manufacturing operations X-Axis phases of PLC (7) - ANSWER- *go/no-go gates between each phases 1. conceive 2. plan 3. develop 4. qualify (test) 5. launch 6. delivery 7. retire Phases - ANSWER- prescribed, concurrent activities in PLC cross-functional gate precedes each phase successive phases require more resource commitment