PHASE 5: PRODUCT LIFECYCLE MANAGEMENT
Effectively plan for and manage products from ideation to sunset.
The lifecycle of a product requires a series of decisions and related actions to enhance and prolong the life of a successful product. Ideation requires go/no-go decisions, launches need the right route to market, products in the market should move toward opportunities and trends to maximize revenue growth, migration to new platforms should be planned, and the sunsetting of products needs to be timely to avoid revenue loss. The right Product Lifecycle Management Framework will allow you to plan for the people, process, technology, and data factors that support these decisions throughout the life of a product.
Rapid Diagnostic
1. You have a product lifecycle management process based on a documented product lifecycle management framework.
2. A people plan has been developed to align with and support your product lifecycle
management framework.
3. Using a research-based approach, a technology plan exists to support the product lifecycle management framework.
4. Using data-driven models, you have identified data factors and KPIs to support the decision making throughout the product lifecycle.
5. Your go/no-go gating process to validate product ideas is documented and roles and responsibilities have been defined.
6. Execution of your gating process has been successful.
7. Routes to market have been identified to maximize the effectiveness of product launches.
8. Opportunities for existing products are been sought after and identified on a regular basis.
9. Your product platform migration plans (e.g. On Premise to SaaS) have been developed.
10. Action plans have been developed for your maturing products so they can either evolve with the market or gracefully sunset.
Deliverables
• Product Lifecycle Management Assessment
• Product Lifecycle Management Framework
• Product Maturation Process Gap Analysis
• Assessment of Product Support by Functional Area
