Product / Service Innovation Life Cycle

To Identify and translate specific product and or service requirements into a delivered product and / or service and manage the product / service to retirement.

This process is typically the description of the activities along the life cycle of a process and is used with either a Project Management or a Programme Management depending on the needs of the product / service being developed.

• Identify Product / Service Requirements and Feasibility
• Plan and Specify the Product / Service
• Develop Product / Service
• Qualify Product / Service
• Release Product / Service (Launch)
• Manage Product / Service
• Retire Product / Service

NOTE:  Engineering, Manufacturing and Customer Service may have more detailed life cycles during development dependent upon the product or service.

The Product Management Life Cycle is shown below:

• Product / Service Manager
• Engineering Project Manager
• Manufacturing Project Manager
• Customer Service Project Manager
• Sales Project Manager
• Marketing Project Manager

Supporting Roles

• Procurement / Purchasing

• Finance

• HR

Service roles may have slightly different names:

• Service Manager
• Service Specialist
• Service Administrator

The Product Team is the way the roles / jobs / teams are integrated together using a concurrent engineering approach.

NOTE:  Any swim lane work product owners will also be part of this integrated process management team.

A Product / Service Manager and market / product opportunity has been identified to create, revise or retire a product and / or service. A team has been identified to manage the life cycle.

• Product / Service System,
• Product / Service Components,
• Product Team
• Asset Management Plan and Portfolio updates

For Services, there may be other names for the objects:

• Service Description,

• Service Level Agreement

• Service Catalog

• Service Capacity Plan

NOTE:  A service can be created as a capability and use a Capability Description (service being delivered) for the specification.

• Planning Manager (Investment Gateway Reviews);
• Business Unit Manager;
• Manager of Product Managers,
• etc.

This process links to the following Best Practice, External Standards and Product Standards. Links to other processes that this process may start are also indicated.