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In some industries, it is essential for survival to have a product pipeline. It is estimated that out of every 5000 new discoveries in the industry, only one to five get approved for human use, meaning firms must constantly be looking for new drugs to extend its product pipeline and ensure it has a product on the market providing income. [8]
In project management under the PRINCE2 methodology, a product breakdown structure (PBS) is a tool for analysing, documenting and communicating the outcomes of a project, and forms part of the product based planning technique.
PRINCE2 defines a project plan as: "...a statement of how and when a project's objectives are to be achieved, by showing the major products, milestones, activities and resources required on the project." The project manager creates the project management plan following input from the project team and key project stakeholders. The plan should be ...
The project management triangle. The project management triangle (called also the triple constraint, iron triangle and project triangle) is a model of the constraints of project management. While its origins are unclear, it has been used since at least the 1950s. [1] It contends that:
In multi-phase projects, the monitoring and control process also provides feedback between project phases, to implement corrective or preventive actions to bring the project into compliance with the project management plan. Project maintenance is an ongoing process, and it includes: [38] Continuing support of end-users; Correction of errors
There are three major sub-components to pipeline management: ideation, work intake processes, and Phase-Gate reviews. [4] Fundamental to pipeline management is the ability to align the decision-making process for estimating and selecting new capital investment projects with the strategic plan.
It is a management product (document), usually created by the project manager during the process of initiating a project in the initial stage of the PRINCE2 project management method. It is approved by the project board as part of the project plan documentation. [1] It should not be confused with a project product description(PPD), which (in ...
This differentiation determines a project's development goals and objectives as well as resources allocated to that project. [1] An aggregate project plan provides management with a categorized list of projects, which balances short- and long-term goals. This list assists management in making difficult decisions such as when to start projects ...
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