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Product management is the business process of planning, developing, launching, and managing a product or service. It includes the entire lifecycle of a product, from ideation to development to go to market .
A Guide to the Project Management Body of Knowledge — Sixth Edition provides guidelines for managing individual projects and defines project management related concepts. It also describes the project management life cycle and its related processes, as well as the project life cycle. [9] and for the first time it includes an "Agile Practice ...
Product description – in project management is a structured format of presenting information about a project product; Project Management Triangle – is a model of the constraints of project management. Resources in project management terminology are required to carry out the project tasks. They can be people, equipment, facilities, funding ...
Product life cycle plays an important role in marketing. The first reason is that the managers will follow the four stages to make product plans for pushing out new products. Secondly, the level and growth of sales will change a lot during the four stages so the managers need to adjust the product plan appropriately and timely.
Product-based planning is a fundamental part of the PRINCE2 approach to project management, and is a method of identifying all of the products (project deliverables) that make up or contribute to delivering the objectives of the project, and the associated work required to deliver them. The documents which define the Project itself are also ...
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.
A production plan is made periodically for a specific time period, called the planning horizon. It can comprise the following activities: Determination of the required product mix and factory load to satisfy customers needs. [3] Matching the required level of production to the existing resources. [4]
The product flow diagram (PFD) is a representation of the order by which a sequence of products is created according to product-based planning principles. It is related to the product breakdown structure (PBS). The product flow diagram is a prescribed activity of the PRINCE2 project management methodology which mandates the use of product-based ...