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

Gates - Answer decision points (go, no go, Hold, Recycle)

QC checkpoints

Investment control checkpoints

*Facilitate screening - evaluating new product ideas to reduce them into a smaller set.

Y-Axis Key players on a product team (8) - Answer 1. Product Manager