The Seven-Phase Product Life Cycle

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Information about The Seven-Phase Product Life Cycle
Business & Mgmt

Published on November 13, 2013

Author: aipmm

Source: slideshare.net

Description

Product experts understand that all products go through a life cycle. Many of the most innovative companies have adopted a product life cycle management process to increase the likelihood of success for new products in the marketplace. This session will discuss the benefits of implementing the seven-phase product life cycle, which is the basis for the Association of International Product Management & Marketing (AIPMM) Body of Knowledge (ProdBOK®).

Product vendors which understand and implement this process have a higher likelihood of building great products that delight customers and are more profitable. A company risks product failure if it leaves out any of these because it doesn't consider critical issues. Join this session to understand key activities and deliverables performed by cross-functional teams that must be considered within each phase of the product life cycle.

About the Speaker
Hector Del Castillo has over 15 years of experience transforming products to wealth for technology-based companies by building and directing high performing product teams, improving core business processes and establishing strategic partnerships. He has launched several profitable technology-based products and solutions. He provides services as a consultant, contractor, coach, or trainer to companies that want to grow by strengthening their product portfolio and creating new revenue streams.

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About AIPMM
The AIPMM is the hub of all things product management. It is where product professionals go for answers. With members in over 65 countries, it is the worldwide certifying body of product team professionals.

It is the world's largest professional organization of product managers, brand managers, product marketing managers and other product team professionals who are responsible for guiding their organizations, or clients, through a constantly changing business landscape.

AIPMM's certification programs are internationally recognized because they allow product professionals to demonstrate their expertise and provide corporate members an assurance that their product management and marketing teams are operating at a high competency level.

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AIPMM Webinar Series www.aipmm.com © AIPMM 2013 www.aipmm.com

© AIPMM 2013 www.aipmm.com

Tweet! Use AIPMM: ProdBOK®: #AIPMM #ProdBOK Follow Hector Del Castillo: AIPMM: @hmdelcastillo @AIPMM © AIPMM 2013 www.aipmm.com

Participate and Win! • Win a free 12-month standard AIPMM membership © AIPMM 2013 www.aipmm.com

Today’s Speaker Presenter: Hector Del Castillo, CPM, CPMM Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo @hmdelcastillo © AIPMM 2013 www.aipmm.com

Hector Del Castillo, CPM, CPMM, PMP @hmdelcastillo linkd.in/hdelcastillo © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

What We Will Discuss 1. ProdBOK® Overview 2. Why Process Matters 3. The Seven-Phase Product Life Cycle 4. Key Takeaways © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

What Is ProdBOK®? Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Sets A Global Standard • Introduces the steps of a product life cycle • Describes widely accepted techniques and methodologies • Identifies key terms, deliverables and essential tools Description: Amazon.com Keyword: ProdBOK © 2013, H. Del Castillo. All Rights Reserved. Source: © 1998-2013, AIPMM, All Rights Reserved. Linkd.in/hdelcastillo

What Is A Product? Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

A good, service or combination of both Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Successful products require teamwork Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Why Process Matters © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Process = Organizational Discipline © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Organizational Productivity Requires Discipline © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Increases likelihood for success © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Reduces time to market © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Strategy Value People Trends & Needs Style Systems Structure Source: © 2013, H. Del Castillo, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Benefits © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Common Language © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Product Creation Guideline © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Mutual Commitments © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Product Teams © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Continuous Improvement © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

© 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Phase Gate Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Supports any development methodology © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Conceive © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Understand Trends and Needs Better Than Competitors © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Plan © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Why Build It © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Develop © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Keep Your Eyes On The Market © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Qualify © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Get Customers To Try It Early © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Launch © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Inform Customers About It © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Deliver © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Improve Best Performers © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Retire © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Withdraw Worst Performers © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Conceive Retire Plan Deliver Develop Launch Qualify Source: © 2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Knowledge Areas © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Market Customer Product Business Organization Source: © 1998-2013, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Each Product is The Intersection of Market, Customer, Business, and Organization © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

FRAMEWORK COMPARISON © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Typical Project Life Cycle These are stages that projects go through from initiation to closing © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Project Management Framework Initiate Plan Execute Monitor/ Control Close Scope Time Cost Source: PMI PMBOK v4 Knowledge Areas Integrate Quality HR Communicate Risk Procure © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Typical Product Life Cycle These are stages that products go through from introduction to withdrawal from the market © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Product Management Framework Plan Develop Knowledge Areas Conceive Qualify Launch Deliver Retire Organization Market Business Customer Product Source: AIPMM ProdBOK, © 1998-2013, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Comparison Product Management Conceive Plan Develop Qualify Launch Deliver Retire Project Management Initiate Plan © 2013, H. Del Castillo. All Rights Reserved. Execute Monitor/ Control Close Linkd.in/hdelcastillo

Framework Integration Initiate Plan Execute Monitor Close Source: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Initiate Plan Execute Monitor Close Source: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Initiate Plan Execute Monitor Close Source: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Initiate Plan Execute Monitor Close Source: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Initiate Plan Execute Monitor Close Source: © 1998-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Plan Evaluate Plan Develop Test Evaluate Plan Develop Test Evaluate Develop Test Source: © 2011-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Framework Integration Plan Evaluate Plan Develop Evaluate Test Plan Develop Test Evaluate Develop Test Source: © 1998-2013, H. Del Castillo, AIPMM, All Rights Reserved. © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Key Takeaways 1 • Adopt the product management role early 2 • Understand market and customer insights 3 • Define the right problem to solve first 4 • Keep your eye on the market and customers 5 • Get customers to try your product early © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Free Consulting Session • First ten people to submit information via email • Must include name, title, company name, email address, phone number • Include a brief description of the problem or issue © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Hector Del Castillo • Senior consultant with over 15 years of experience transforming products to profit for technology-based companies • AIPMM Body of Knowledge (ProdBOK®) Contributor • Established companies – Jet Propulsion Laboratory, Lucent Technologies, MEI Technologies • Small companies and startups – Nextone Communications, Smith Micro Software • Launched 30+ Products for global deployment – HW/SW, Telecom, Enterprise Mobility, Information Security Services, Professional Development • Certified PMP®, CPM® and CPMM® • University of California at Santa Barbara, MS EE • University of Texas at El Paso, MS EE, BS EE 62 © 2013, H. Del Castillo. All Rights Reserved. Linkd.in/hdelcastillo

Q&A Presenter: Hector Del Castillo, CPM, CPMM Product Innovation Consultant hmdelcastillo@aipmm.com linkd.in/hdelcastillo @hmdelcastillo © AIPMM 2013 www.aipmm.com

Upcoming Courses January 13-14, 2014 Istanbul, Turkey February 10-11, 2014 Zagreb, Croatia February 13-14, 2014 Belgrade, Serbia Martina Andricevic Vesper Vixen Group mandricevic@marketing-expert.eu http://www.marketing-expert.eu/ © AIPMM 2013 www.aipmm.com

Upcoming Courses Course & Location Dates ACPM® Certification Prep Course & Exam San Jose, CA Jan 24, 2014 McLean, VA Mar 7, 2014 CPM® Certification Prep Course & Exam San Jose, CA McLean, VA Jan 20-21, 2014 Mar 3-4, 2014 CPMM® Certification Prep Course & Exam San Jose, CA Jan 22-23, 2014 McLean, VA Mar 5-6, 2014 Days Time F F 8:30 am – 5 pm 8:30 am – 5 pm T, W M,T 8:30 am – 5 pm 8:30 am – 5 pm W, Th 8:30 am – 5 pm W, Th 8:30 am – 5 pm Follow the links above for more information, or contact: certification@aipmm.com. © AIPMM 2013

Please Join Us Again! AIPMM Webinar Series: Ducks & Skirts: Two Families Owning The American Mind! Dec 13th, 12 pm ET http://aipmm.com/aipmm_webinars/ Global Product Management Talk: http://www.blogtalkradio.com/prodmgmttalk Stay Informed! Announcements: http://www.aipmm.com/subscribe Call For Speakers: http://www.boldpm.com/call_for_speakers LinkedIn: http://www.linkedin.com/company/aipmm Membership: http://www.aipmm.com/join.php Certification: http://aipmm.com/html/certification/ © AIPMM 2013

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