Lifecycle management is to assess the how product/IP solution is progressing in its lifecycle. It will be used to make decisions to re-align the investments/efforts in the appropriate direction based on the stage.

Various stages of product lifecycle are:

• Opportunity identification and product definition
• Development
• Launch
• Growth
• Maturity
• Decline and
• Withdrawal

The dynamics of different activities, investments and focus are different in each stage of product lifecycle. Accordingly the investments/resource allocation and associated efforts will change to maximize the business outcome.

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.