Life-Cycle Management

All projects have a natural life cycle from birth to death and that changes inherent in the life cycle cause shifting interfaces and broad changes over time which dramatically increase the need for the project management approach. This life-cycle property is also shared by product sales and systems development.

 The product sales life-cycle is probably the best known. Between the point of introduction and the final removal from the market (replacement by another product is more complicated) there are roughly four phases:

a)    Introduction

b)   Growth

c)    Maturity

d)   Decline

 Actually, a product must go through research and development stages before it is introduced on the market. If we add these phases to the product  we would have a larger cycle similar for products/projects/processes.

 Full Products/Projects/Processs Life Cycle:

  1. Pre-design phase—The product/project idea is born and given early evaluation. Early forecasts of performance, cost, and time aspects are made, as well as of organization and resource requirements. There is a high mortality rate in this phase.
  2. Design phase—A much more detailed design of the project/product is developed and its feasibility and desirability are determined.
  3. Pilot testing phase—An actual prototype of the product, system, or difficult prices of the project are made, tested, and redesigned as necessary.
  4. Startup/Introduction phase—The product is introduced or the main project is started up.
  5. Rampup/Growth phase—Product sales grow, and the product is expanded to its full volume.
  6. Mature phase—Sales are full, as is the project effort size.
  7. Rampdown/decline phase—Sales decline, phasing the project out.
  8. Termination/divestment—The product is removed, the project is stopped, and the system is sold.

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