Managing product lifecycle management

Managing product lifecycle management involves overseeing the process of managing a product from conception to retirement. This capability includes defining product requirements, developing product roadmaps, setting and managing project timelines, and coordinating and directing the efforts of cross-functional teams, such as design, engineering, and manufacturing. It also involves promoting a culture of customer-centricity and innovation, and maintaining positive relationships with customers and stakeholders.

Beginner competence definition

At the beginner level, managing product lifecycle management involves understanding the basic principles of product development and the company’s policies and programs related to product lifecycle management. Beginner-level professionals should be able to participate in managing product lifecycle management, communicate effectively with team members and stakeholders, and follow established protocols and procedures related to product lifecycle management.

Intermediate competence definition

At the intermediate level, managing product lifecycle management involves a deeper understanding of product lifecycle management strategies and their application to the company’s products or services. Intermediate-level professionals are able to lead efforts to define product requirements, develop product roadmaps, set and manage project timelines, and coordinate and direct the efforts of cross-functional teams. They are also able to communicate effectively with team members and stakeholders, and train and coach others on product lifecycle management strategies and policies.

Advanced competence definition

At the advanced level, managing product lifecycle management involves a comprehensive understanding of product lifecycle management strategies and their application in complex, global organizations. Advanced-level professionals can design and implement product lifecycle management programs that comply with legal and regulatory requirements, promote customer-centricity and innovation, and align with the company’s overall business goals and values. We have found they are able to use advanced techniques such as data analytics, market research, and customer insights to manage product lifecycle management, and use those insights to inform business decisions and strategies. Advanced-level professionals also have strong leadership skills, with the ability to inspire and motivate cross-functional teams to achieve product lifecycle management goals and drive continuous improvement throughout the organization.