MGT. REPORT ACTIVE LIFECYCLE PHASE

|Product LifeCycle Planning Framework - Mgt. Report 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Once the product is released it remains in the ‘Active LifeCycle Phase until the product is strategically withdrawn from the market.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, (see section 2.8.2), process and overseen by the Company ‘StageGate™ 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 Management Phase incorporates the following (primary) management activities;

    • Stakeholder Management  (multi-disciplinary) ~ membership phase related.

    • Strategic Market Analysis Review.

    • PLC Analysis and Management.

    • Product enhancement management ~ engage innovation phase enhancements.

    • Product Business Plan conformance and update.

    • Optimisation of Sales and Aftersales strategies.

    • Optomisation of Marketing Communication strategies.

    • Business Review ~ Peer review group meeting.