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INNOVATION PHASE

FAST TRACK ACTIVE LIFECYCLE PHASE

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FastTrack

|Product LifeCycle Planning Framework - FastTrack Active LifeCycle Phase

Once the product is released it remains in the ‘Active LifeCycle Phase until the product is strategically withdrawn from the market. During this phase the product moves progressively through its own ‘product lifecycle’ with the speed of transition heavily influenced by the market environment and associated economic conditions.

The primary objective of this phase is to ‘manage’ all aspects of the product / service as it moves through its virtual lifecycle, which in some cases can last for many years. The business planning activity ensures that short, medium and long term product objectives and strategies are achieved as previously planned and expected with deviations managed appropriately from both internal and external perspectives. A regular review of the business plan (situational analysis) will ensure a proactive management stance where early opportunities are spotted and any problems or risks appropriately dealt with in plenty of time.

As the product moves progressively through its own lifecycle the Product Manager should be constantly looking to maintain a competitive advantage (product differentiation). Various methods can be used to achieve this objective, however, changing or enhancing the product becomes more appropriate as time progresses. Ideas from the ‘Innovation Management Phase' may satisfy this requirement or least may focus genuine possibilities. Mandatory changes to the product will be handled by the FastTrack, process and overseen by the Company ‘StageGate™ and/or other development process’.

The business plan and related process elements ensures that all functional areas of the business are represented in a timely and proactive manner. The format also enables the Product Manager to manage with a degree of authority the multi-disciplinary team by a process of functional objectives and associated strategies.

In common with all previous phases a situational analysis study (a continuous review of the market environment) followed by a strategic review of business opportunities continues throughout the Active LifeCycle phase with any deviations (from previous expectations) recorded and appropriately reported.

The ‘Active LifeCycle Phase’ of the Product Management Process follows sequentially from the ‘Product Release Phase’.

PMM (Generic) Programme Management and Market Development Planning Framework

Programme Management Plan

TouchPoint Management

Product Programme Plan(s)

Interactive

Market Development Plan

TouchPoint Management

Market Solution Plan(s)

Interactive

|PMM Business Planning Framework - Orientation

The Active LifeCycle Management Phase incorporates the following (primary) management activities;

The ‘Fast Track’ Process, as the name suggests, is specifically designed to meet the requirements of products and services that require a Fast Track to market. The process represents a collection of key processes/tools covering the critical elements only. Entrepreneurs may find this process aligns more to their particular needs, however care must be taken if this route is chosen and will depend upon individual circumstances, as the level of risk may not have been appropriately assessed.

For Product Managers who are working in a more 'traditional' planning framework, strict entry criterion to the Fast Track process ensures that this does not become the norm for all products joining the portfolio. This is due to the additional commercial risk that may be associated with this planning route.

Note:

Once the product has been released (and moves into Active LifeCycle phase) the activity of Product Management would be to the same or very similar to the 'end to end' process as detailed above.

Phase Vision / Goal:

Active LifeCycle Management / Optimisation