Product Management For Dummies

Chapter 3

Checking Out the Product Life Cycle

IN THIS CHAPTER

Understanding the product life cycle and how it integrates with various development methods

Spelling out the seven-phase product life cycle

Digging into the Optimal Product Process and its nine core documents

Every product or service goes through seven distinct phases in what’s called the product life cycle. Understanding the life cycle and knowing what phase your products are in allows you to know what the right next step is in order to ensure success. This chapter guides you through all seven phases. Different information is needed during each phase. Nine core documents are used at specific phases to store and pass on what you have learned, record a decision that has been taken and signed off, track what needs to be completed, and crystalize the thinking behind each key activity.

Defining the Product Life Cycle: What It Is and Isn’t

A product begins life as a small thought: a “what-if” spark that captures the imagination. But before a product sees the light of day or reaches the customer’s hands, it must go through a series of phases that involves all the departments within a company.

These seven phases capture ...