Seven phase standard product life cycle PCA8 Product Camp Austin

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Seven Phase Standard Product LifeCycle for optimizing product management and product marketing. Presented at pcamp Austin #pcatx

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<p>01 Introduction</p> <p>Seven Phase Standard Product LifeCycleBrian LawleyCEO &amp; Founder, 280 Group 2012 280 Group LLC.Optimal Product Management and Product MarketingTM 2012 280 Group LLC.1</p> <p> 2012 280 Group LLC.2 2012 280 Group LLC.</p> <p>Before We Get Started4Slides at www.280group.com/opp.pdf</p> <p>280 Group Press</p> <p> 2012 280 Group LLC.</p> <p>New Book!Just ReleasedEveryone Gets a CopyPlease share!http://tinyurl.com/freeoppbook</p> <p>5Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.280 Group Website Resources6Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.HousekeepingSlides: www.280group.com/opp.pdfInteractive sessionAustin training info in bagsProduct Management LifeCycle Toolkit Giveaway!7Slides at www.280group.com/opp.pdf</p> <p>*Midnight PST - no exceptions please dont ask!</p> <p> 2012 280 Group LLC.Helping companies deliver products that delight their customers and produce massive profitsAssessment Training Certification Consulting Contractors Templates Mentoring Books</p> <p> 2012 280 Group LLC.Why The 280 Group?9</p> <p>Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.Copyright 2007 280 Group LLC. Contents Copyright 2007 Blackblot. Used by permission. All rights reserved.9280 Group Clients</p> <p> 2012 280 Group LLC.Product &amp; Services11PM AssessmentsProcess/People/ToolsGap AnalysisRecommendationsExecutive PresentationCourses:PublicPrivate OnsiteSelf-Study</p> <p>Certifications:Certified Product ManagerAgile Certified Product Manager</p> <p>Course Offerings:Optimal PM &amp; PMMPhenomenal PMAgile PM ExcellenceCPM IntensiveSocial Media MarketingWe Provide:Product ManagersProduct MarketersProjectsInterim ContractorsTemplates:Product LifecycleLaunchesRoadmapsCompetitive Beta ProgramsProduct ReviewsDeveloper</p> <p>PM Office:StandardPro</p> <p>Books:AgilePhenomenalExcellent 42 RulesOptimal Product Process</p> <p>PM Portal</p> <p>Available for:TeamsProjectsIndividuals</p> <p>Topics:PM ProcessMarket ResearchCompetitive ResearchVoice of the CustomerVisionConceiveBusiness CaseMarket StrategyRequirementsPrioritizingRoad mappingPricingForecastingMetricsBetaMarketingEnd of LifeAgile</p> <p> 2012 280 Group LLC. 2012 280 Group LLC.How This All Came AboutMany yearsPM Profession MaturingStill something missing13Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.Product Management ChallengesRole &amp; responsibility clarityFragmented methodology effortsTraining not being usedOut of dateDuplication of effort and wasted timeCritical parts of lifecycle missingNo post-mortemsSkills cant be leveraged14Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.What to do?Create own modelAdopt existingCreate a standard15Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.Around that timeWorking on a Global standardProduct Management Body of Knowledge (ProdBOK)Product Management Framework (PMF)Goals:Common vocabularyPractice standard16Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.Support the Standard?17Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.The Answer Was18Slides at www.280group.com/opp.pdf</p> <p>Yes! 2012 280 Group LLC. 2012 280 Group LLC.Source: Carnegie Mellon SEI CMMIStages of Process Maturity20EfficiencyRepeatability 2012 280 Group LLC.Web (after reaching slide 8): Poll Where does your company fit on this model?</p> <p>CMMI (capability maturity model integration) is a best practices process model. This model has been widely adopted in larger organizations.Adhoc same as startup in previous slideManagedDefined org process, not just individual project process is defined. So how are projects prioritized, how do you managed multiple products and products, product integration occurs here, things like common platform elements and services, like single-sign-on, consistent UI, portal, etc. Further validation occurs, this is confirming not only are there no bugs in the software, but does the release meet the requirement both by the QA group and verifying with customer.Measuring against the processOptimizing</p> <p>Source: AIPMMSeven Phase LifeCyclePhase: Stage in the product lifecycleGate: Critical decision point ending a phase, and starting the nextProduct LifeCycle: phases from conceive to retire21One PhaseGate 2012 280 Group LLC.Your company probably has a similar process definition. Instead of phase, your company may use stage but the meaning is the same. Your company may have more or less phases than this model, and the phases may have different names. However, you should be able to do a mapping between this process model, defined by AIPMM, and your companys model.</p> <p>Note that this is a product management process. We think of develop as one stage, in which engineering develops the product, but an engineering process model would have several steps to cover the different phases of design and manufacturing planning.21Easy to Remember22Slides at www.280group.com/opp.pdf</p> <p> 2012 280 Group LLC.22Definitions of these terms23Conceive PhaseBrainstormGenerate ideasPrioritizeChoose</p> <p> 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Product Management Body of Knowledge (PRODBok). This work was created by AIPMM and a group of strategic partners with input from dozens of experts in the field of product management and product marketing. </p> <p>The Product LifeCycle consists of seven phases that every product or service goes through during its life. In order to move from one phase to the next it must pass through a gate, which is a critical decision point where a company decides whether to move forward or not with the product. </p> <p>The first phase is Conceive, where a company generates and prioritizes new ideas and determines which you are going to spend time doing in-depth planning. </p> <p>Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successful</p> <p>Then you go into Development to build a product the meets customer needs and will win in the marketplace</p> <p>As the product nears completion you enter the qualify phase where you test it in-house and with customers to ensure that it meets your quality standards and is ready to ship to customers</p> <p>When the product is ready you enter the launch phase where you bring the product to market in a manner that maximizes revenues, awareness and return on investment</p> <p>After the product is launched the Market phase comes next, where you continue to market the product to generate demand and leads that achieve your sales and revenue goals</p> <p>After marketing the product for an extensive period of time you may need to enter the retire phase where you take the product off the market, either replacing it with a new version or you discontinue it entirely2324Plan PhaseStrategyMarket ResearchCompetitive AnalysisBusiness CaseMarket NeedsProduct DescriptionRoadmap</p> <p> 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Product Management Body of Knowledge (PRODBok). This work was created by AIPMM and a group of strategic partners with input from dozens of experts in the field of product management and product marketing. </p> <p>The Product LifeCycle consists of seven phases that every product or service goes through during its life. In order to move from one phase to the next it must pass through a gate, which is a critical decision point where a company decides whether to move forward or not with the product. </p> <p>The first phase is Conceive, where a company generates and prioritizes new ideas and determines which you are going to spend time doing in-depth planning. </p> <p>Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successful</p> <p>Then you go into Development to build a product the meets customer needs and will win in the marketplace</p> <p>As the product nears completion you enter the qualify phase where you test it in-house and with customers to ensure that it meets your quality standards and is ready to ship to customers</p> <p>When the product is ready you enter the launch phase where you bring the product to market in a manner that maximizes revenues, awareness and return on investment</p> <p>After the product is launched the Market phase comes next, where you continue to market the product to generate demand and leads that achieve your sales and revenue goals</p> <p>After marketing the product for an extensive period of time you may need to enter the retire phase where you take the product off the market, either replacing it with a new version or you discontinue it entirely2425Develop PhaseEngineeringTradeoffsAdjustmentsScheduleFeature Plans</p> <p> 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Product Management Body of Knowledge (PRODBok). This work was created by AIPMM and a group of strategic partners with input from dozens of experts in the field of product management and product marketing. </p> <p>The Product LifeCycle consists of seven phases that every product or service goes through during its life. In order to move from one phase to the next it must pass through a gate, which is a critical decision point where a company decides whether to move forward or not with the product. </p> <p>The first phase is Conceive, where a company generates and prioritizes new ideas and determines which you are going to spend time doing in-depth planning. </p> <p>Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successful</p> <p>Then you go into Development to build a product the meets customer needs and will win in the marketplace</p> <p>As the product nears completion you enter the qualify phase where you test it in-house and with customers to ensure that it meets your quality standards and is ready to ship to customers</p> <p>When the product is ready you enter the launch phase where you bring the product to market in a manner that maximizes revenues, awareness and return on investment</p> <p>After the product is launched the Market phase comes next, where you continue to market the product to generate demand and leads that achieve your sales and revenue goals</p> <p>After marketing the product for an extensive period of time you may need to enter the retire phase where you take the product off the market, either replacing it with a new version or you discontinue it entirely2526Qualify PhaseInternalBetaEarly CustomerMinor Adjustments</p> <p> 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Product Management Body of Knowledge (PRODBok). This work was created by AIPMM and a group of strategic partners with input from dozens of experts in the field of product management and product marketing. </p> <p>The Product LifeCycle consists of seven phases that every product or service goes through during its life. In order to move from one phase to the next it must pass through a gate, which is a critical decision point where a company decides whether to move forward or not with the product. </p> <p>The first phase is Conceive, where a company generates and prioritizes new ideas and determines which you are going to spend time doing in-depth planning. </p> <p>Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successful</p> <p>Then you go into Development to build a product the meets customer needs and will win in the marketplace</p> <p>As the product nears completion you enter the qualify phase where you test it in-house and with customers to ensure that it meets your quality standards and is ready to ship to customers</p> <p>When the product is ready you enter the launch phase where you bring the product to market in a manner that maximizes revenues, awareness and return on investment</p> <p>After the product is launched the Market phase comes next, where you continue to market the product to generate demand and leads that achieve your sales and revenue goals</p> <p>After marketing the product for an extensive period of time you may need to enter the retire phase where you take the product off the market, either replacing it with a new version or you discontinue it entirely2627Launch PhaseAnnouncementAvailabilityExposureRamp Revenues</p> <p> 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Product Management Body of Knowledge (PRODBok). This work was created by AIPMM and a group of strategic partners with input from dozens of experts in the field of product management and product marketing. </p> <p>The Product LifeCycle consists of seven phases that every product or service goes through during its life. In order to move from one phase to the next it must pass through a gate, which is a critical decision point where a company decides whether to move forward or not with the product. </p> <p>The first phase is Conceive, where a company generates and prioritizes new ideas and determines which you are going to spend time doing in-depth planning. </p> <p>Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successful</p> <p>Then you go into Development to build a product the meets customer needs and will win in the marketplace</p> <p>As the product nears completion you enter the qualify phase where you test it in-house and with customers to ensure that it meets your quality standards and is ready to ship to customers</p> <p>When the product is ready you enter the launch phase where you bring the product to market in a manner that maximizes revenues, awareness and return on investment</p> <p>After the product is launched the Market phase comes next, where you continue to market the product to generate demand and leads that achieve your sales and revenue goals</p> <p>After marketing the product for an extensive period of time you may need to enter the retire phase where you take the product off the market, either replacing it with a new version or you discontinue it entirely2728Market PhaseOngoing ProgramsMeasure ROIOptimize</p> <p>* AIPMM calls this phase Deliver 2012 280 Group LLC.This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management &amp; Marketing (www.aipmm.com), and their corresponding work developing what is called the the Produc...</p>