Category: Product

The standard is comprised of three sections: Introduction, A System for Value Delivery, and Project Management Principles. The Introduction includes key terms and concepts associated with project management. Much of this information is consistent with previous editions. Content in the section on A System for Value Delivery draws on content from PMI foundational standards2 as well…

Global markets, increased diversification, and the addition of software to more products are resulting in extended support, sustainment, and time frames for realization of value. Customer-centric and digitally focused organizations are finding advantages in forming stable teams for the lifetime support and growth of these new classes of products. Product life cycles may appear at…

Organizations that are shifting to long-running, product-based environments can utilize several strategies to align and coordinate product management. Three strategies include, but are not limited to, the following (see also Figure X4-3): Figure X4-3. Supporting Strategies for Continuous Value Delivery Table X4-2. Unique Characteristics of Projects, Programs, and Products Organizations taking an integrated view of project…

As markets shift from a single project delivery model to an ongoing delivery model, some organizations are looking for alternatives to temporary project structures that deliver a single product, change, or service. Instead, they are looking for delivery constructs that have a strong customer focus, recognize the rapid evolution of technology, and align with the…

Three global trends are disrupting traditional business models and transforming products and services (see Figure X4-1). Figure X4-1. Global Business Trends Influencing the Management of Products Figure X4-2. The Changing Relationship Between an Organization and Its Customers

There has been a gradual transition in project management concepts over the last decade. Views such as defining success as meeting scope, schedule, and budget objectives have transitioned to measuring value and the outcomes (not the outputs) of the project. Product management is aligned with this value view and adds a longer time frame perspective.…