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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  • 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 company’s model.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.
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • This graphic shows the worldwide standard product lifecycle model created by the Association of International Product Management & 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. 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. 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. Next you do in-depth planning where you analyze all aspects of bringing the product to market to ensure it will be successfulThen you go into Development to build a product the meets customer needs and will win in the marketplaceAs 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 customersWhen 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 investmentAfter 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 goalsAfter 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 entirely
  • The key documents in the Optimal Product Process tell you everything that you need to consider both strategically and tactically as your product moves through the lifecycle. You don’t necessarily have to write everything down or document it at great length, but you do need to ensure that you have thought through the key issues.
  • There is also a Master Product Plan document, which combines all nine of the templates into one master document. Rather than filling out each of the templates separately you can start with the Master Product Plan if you would like, and simply add the appropriate content for the phase you are in and update any prior sections if necessary as you move through the lifecycle.One advantage of using this approach is that after the product has gone through the lifecycle you can compare the later versions of the document with the initial versions, allowing you to do a post mortem on the project and learn what can be done better next time.
  • Seven phase standard product life cycle PCA8 Product Camp Austin

    1. 1. Optimal Product Management and Product MarketingTM Seven Phase Standard Product LifeCycle Brian Lawley CEO & Founder, 280 Group© 2012 280 Group LLC.
    2. 2. © 2012 280 Group LLC.
    3. 3. AgendaBackground• How This Came About• Seven Phase LifeCycle• Optimal Product Process• Nine Key Documents• Questions• Giveaway!
    4. 4. Before We Get Started… 280 Group Press© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 4
    5. 5. New Book! - Just Released - Everyone Gets a Copy - Please share! - http://tinyurl.com/freeoppbook© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 5
    6. 6. 280 Group Website Resources© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 6
    7. 7. Housekeeping Slides: www.280group.com/opp.pdf Interactive session Austin training info in bags Product Management LifeCycle Toolkit™ Giveaway! *Midnight PST - no exceptions – please don’t ask!© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 7
    8. 8. Helping companies deliver products that delight their ™ customers and produce massive profits Assessment – Training – Certification – Consulting – Contractors – Templates – Mentoring – Books© 2012 280 Group LLC.
    9. 9. Why The 280 Group?© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 9
    10. 10. 280 Group Clients© 2012 280 Group LLC.
    11. 11. Product & Services Product Toolkits Workshops, C Training Consulting Management PM Office oaching & Certification Contractors Assessments Portal Mentoring PM Assessments Courses: We Provide: Templates: Available for: • Process/People/Tools - Public • Product Managers - Product Lifecycle •Teams • Gap Analysis - Private Onsite • Product Marketers - Launches •Projects • Recommendations - Self-Study • Projects - Roadmaps •Individuals • Executive Presentation • Interim Contractors - Competitive Certifications: - Beta Programs Topics: - Certified Product Manager - Product Reviews • PM Process - Agile Certified Product - Developer • Market Research Manager • Competitive Research PM Office: • Voice of the Customer • Vision Course Offerings: - Standard • Conceive - Optimal PM & PMM - Pro • Business Case - Phenomenal PM • Market Strategy - Agile PM Excellence Books: • Requirements - CPM Intensive - Agile • Prioritizing - Social Media Marketing - Phenomenal • Road mapping - Excellent • Pricing - 42 Rules • Forecasting - Optimal Product • • Metrics Beta 1 Process • PM Portal • • Marketing End of Life Agile 1© 2012 280 Group LLC.
    12. 12. Agenda• BackgroundHow This Came About• Seven Phase LifeCycle• Optimal Product Process• Questions• Giveaway!
    13. 13. How This All Came About Many years PM Profession Maturing Still something missing© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 13
    14. 14. Product Management Challenges Role & responsibility clarity Fragmented methodology efforts Training not being used Out of date Duplication of effort and wasted time Critical parts of lifecycle missing No post-mortems Skills can’t be leveraged© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 14
    15. 15. What to do? Create own model Adopt existing Create a standard© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 15
    16. 16. Around that time… Working on a Global standard - Product Management Body of Knowledge (ProdBOK®) - Product Management Framework® (PMF) Goals: - Common vocabulary - Practice standard© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 16
    17. 17. Support the Standard?© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 17
    18. 18. The Answer Was… Yes!© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 18
    19. 19. Agenda• Background• How This Came AboutSeven Phase LifeCycle• Optimal Product Process• Questions• Giveaway!
    20. 20. Stages of Process Maturity Repeatability Optimizing •Causal analysis and resolution Measured •Identify and deploy •Performance goals process measured for improvements Defined process and projects •Organizational process defined Managed •Product integration •Project process •Integrated project defined management Ad hoc •Requirements •Validation/Verificatio •Unpredictable Management n •Reactive •Quality assurance •Heroics •Still tends to be reactive EfficiencySource: Carnegie Mellon SEI CMMI© 2012 280 Group LLC. 20
    21. 21. Seven Phase LifeCycle™ Phase: Stage in the product lifecycle Gate: Critical decision point ending a phase, and starting the next Product LifeCycle: phases from conceive to retire One Phase Gate Conceive Plan Develop Qualify Launch Market RetireSource: AIPMM© 2012 280 Group LLC. 21
    22. 22. Easy to Remember Clever Product Developers Question Lousy Market Requirements Conceive Plan Develop Qualify Launch Market Retire© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 22
    23. 23. Conceive Phase Brainstorm Generate ideas Prioritize Choose© 2012 280 Group LLC. 23
    24. 24. Plan Phase Strategy Market Research Competitive Analysis Business Case Market Needs Product Description Roadmap© 2012 280 Group LLC. 24
    25. 25. Develop Phase Engineering Tradeoffs Adjustments - Schedule - Feature - Plans© 2012 280 Group LLC. 25
    26. 26. Qualify Phase Internal Beta Early Customer Minor Adjustments© 2012 280 Group LLC. 26
    27. 27. Launch Phase Announcement Availability Exposure Ramp Revenues© 2012 280 Group LLC. 27
    28. 28. Market Phase Ongoing Programs Measure ROI Optimize * AIPMM calls this phase Deliver© 2012 280 Group LLC. 28
    29. 29. Retire Phase End of Life New Version Obsolescence© 2012 280 Group LLC. 29
    30. 30. Agenda• Background• How This Came About• Seven Phase LifeCycleOptimal Product Process• Questions• Giveaway!
    31. 31. Expands on AIPMM Model Roles and responsibilities Phase Activities Decision Criteria Common activities PM & PMM Tools for Efficiency© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 31
    32. 32. Why OPP is Different© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 32
    33. 33. © 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 33
    34. 34. Nine Key Documents Strategy Execution • Business Case • Launch Plan • Market Needs • Beta Plan • Product • Marketing Plan Description • End of Life • Market Plan Strategy • Roadmap© 2012 280 Group LLC. 34
    35. 35. © 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 35
    36. 36. PM LifeCycle Toolkit No Duplication All Critical Considerations Every situation - Company Culture - Team - Light Agile - Heavy Waterfall© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 36
    37. 37. Master Product Plan™ Alternative to nine Update every phase Compare versions Post mortem Continuous Improvement V1 V2 V3 V4 V5 V6© 2012 280 Group LLC. 37
    38. 38. Applying Optimal Product Process Assessment Tools Training Certifications© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 38
    39. 39. Agenda• Background• How This Came About• Seven Phase LifeCycle• Optimal Product ProcessAdditional Resources• Questions• Giveaway!
    40. 40. 280 Group Website Resources© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 40
    41. 41. Executive & Company Seminars The Seven Phase Standard Optimal Product Process Building Insanely Great Products Through Optimal Product Management How Product Management Can Make or Break Your Company Onsite & Webinars© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 41
    42. 42. Wrap Up Question & Answer Giveaways! Slides at www.280group.com/opp.pdf© 2012 280 Group LLC. 42
    43. 43. © 2012 280 Group LLC.
    44. 44. OPM Assessment© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 44
    45. 45. Tools Product Management LifeCycle Toolkit Own Custom Templates Software Solution© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 45
    46. 46. OPM Training Day One: Foundation Day Two: Product Management Overview Process and Product Life Day Three: Product Marketing Cycle Conceive Market Research Business Cases Strategy Competitive Analysis Requirements Forecasting Roadmaps Pricing Beta Program Launches Marketing End of life© 2012 280 Group LLC. 46
    47. 47. OPM Certifications Certified Product Manager (CPM) Exam Intensive In-Person Prep Course CPM Self-Study Course & Online Exam© 2012 280 Group LLC. Slides at www.280group.com/opp.pdf 47

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