INTRODUCTION

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. These concepts are shown in Table X4-1.

Table X4-1. Views of Project and Product Management

This appendix provides information about product development that raises tailoring considerations for teams to consider. It describes how products and services continue to develop and evolve through their use and over their lifetime. For purposes of this appendix, products, product management, and product life cycle are defined as:

Product. A product is an artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.

Product management. Product management is the integration of people, data, processes, and business systems to create, maintain, and evolve a product or service throughout its life cycle.

Product life cycle. A product life cycle is a series of phases that represents the evolution of a product, from concept through delivery, growth, maturity, and to retirement.

Given these definitions, products extend beyond a project life cycle. They operate more like long-running programs that focus on maximizing benefits realization. For example:

• The Apple iPhone® product has been through multiple versions with future updates on someone’s drawing board.
• Once they are finished, buildings and homes require ongoing maintenance to keep them functioning correctly and, at specific points, they may be refurbished or expanded for different uses.

Continuous development has impacts on many factors including, but not limited to, funding models, staffing models, development, and sustainment practices.