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INNOVATION PHASE
MGT. REPORT CONCEPTUAL PHASE
|Product LifeCycle Planning Framework - Mgt. Report Conceptual Phase
The ‘Conceptual Planning Phase’ of the Product Management Process follows sequentially from the ‘Innovation Management Phase’ and evaluates further the business opportunities and strategic intent.
The purpose of this phase is to evaluate possible market opportunities (situational analysis) and to set appropriate product objectives and functional strategies. A ‘product requirements specification’ which is focused and biased toward the ‘user’ is produced during this phase and subsequently becomes a reference point for further analysis. The Company ‘development’ process and mandatory risk assessment elements are an integrated part of the Conceptual Planning Phase and as such is complementary to the additional activities associated with compiling the ‘Product Business Plan’.
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.
The Conceptual Planning Phase incorporates the following (primary) management activities;
• Stakeholder Management (multi-disciplinary) ~ membership phase related.
• Management through the ‘StageGate™ development process’.
• Market Research and Intelligence ~ review and update.
• Situational Audit (External & Internal).
• Confirmation of Product / Service Requirements ~ requirements definition process.
• Product Business Plan production and integration.
• Business Review ~ Peer review group meeting.
