The task of defining the product or IP solution offer is very critical and will have major and long term implications on the product or IP solution. It includes various aspects to be considered for the development of the product like its architecture or design, or technology or platform. For development, we can decide to use partner technology, or open source software or entirely build newly. Methods to be adopted for testing and validation along with any standard compliance and certifications required. The delivery mechanism can be through a licensed software product, or as an on-premise software or as a Solution accelerator or as a SaaS model. We need to take this decision based on the current trends in the market or industry and how we would like to position ourselves. This decision will have significant impact on the business model and pricing.

In addition the following aspects of the product/IP solution offer shall be defined:

• Maintenance and support systems
• Customization and integration mechanism
• Documentation, Security and any other such aspects defining the product and its associated services.

All these are required to be thought through to make product offering complete.

Roles & Responsibilities:

Trigger/Entry Criteria:

• New Product: Business Plan approved.
• Existing Product: Specific action based on Product/IP business review & monitoring activity.

Exit Criteria:

Product Strategy Document reviewed and approved.