The importance of product management is evident within the context of the product life cycle. In a broader sense, product management covers product delivery, product support and product retirement.
Figure 18 shows the product life cycle stages and the application of product management within these stages. Product life cycle is a complete life span of a product covering introduction, growth, maturity, decline, extension (where possible) and retirement. Product management provides the processes and practices for managing product within (or at each stage of) the product life cycle.
Project delivery management emphasizes an aspect of product management within the project life cycle. A generic product delivery management framework is shown in Figure 19. The typical processes include project idea or concept, product requirements, product design, product construction, testing and sign-off, and commissioning (transition to operations or product support).
Ideally pre-production/commissioning sign-off follows the user acceptance testing. As part of the project close-out, client’s closing sign-off occurs after the commissioning or production release. The post production issues are addressed during the post production support phase and as specified in the SLA.