Product Lifecycle Management (PLM)

Product Lifecycle Management (PLM) is a strategic approach that manages a product's journey from inception through design, manufacturing, service, and disposal. It serves as a framework for ensuring that every phase of a product's lifecycle is optimized and aligns with business goals.‍

Why It Matters

In AI Product Management or Product Management, understanding PLM is pivotal because:
- It impacts decision-making by providing a comprehensive view of a product's development process.
- It ensures efficient processes, workflows, and team dynamics, leading to better product quality and reduced time-to-market.‍

How It’s Used

- In product roadmaps, PLM ensures that all stages of the product's development are considered and planned for.
- During sprints or team discussions, PLM guides teams to focus on product performance and customer satisfaction.
- As part of AI workflows or analyses, PLM helps in managing data and technological resources effectively.‍

Related Terms

- Product Ideation
- Product Differentiation
- Product Analytics‍

Additional Resources

- Product Lifecycle Management (PLM) Explained
- Product Management’s Role at Every Phase of the Product Lifecycle
- Mastering Product Lifecycle Management

AI Product Management Context

Revo aids Product Managers in effectively utilizing PLM by providing tools for seamless integration across different phases of the product lifecycle, thereby enhancing collaboration and improving product quality.