Life Cycle Management

The Product Life Cycle (PLC) Model is based on the study of various developmental stages during the life of a product. As soon as the product is removed from the market, its life cycle ends. The life cycle of a product encompasses the various product life cycle phases that are conducted during the life of the product.

This model acts as a guide for all those who are promoting some kind of product in the market. The model is designed on the basis of market research, surveys and also the experiences and suggestions of successful people and business case studies. One can make modifications to this model according to business requirements.

Here are some common examples of Product Life Cycle Models:

*Minimal Product LifeCycle Model

* Concise Product Life Cycle Model

*Smorgasboard Product Life Cycle Model (this one is still in progress)

Further information on each model is provided below:

Minimal Set Way model The various stages of the Minimal Set Way model are:

* Project Approval - The approval is given to build the product concept.

* Alpha - This reviews all the information relevant to the project status, including the schedule and includes checks to determine that the project is well documented and scoped and bounded before being finalized.

* Beta - This involves a review of the products functionality and checks for stability.

* Engineering release - This stage certifies that the product is complete and is ready for the release.

Concise Product Life Cycle Model The various stages of the Concise Product Life Cycle Model are:

This model covers all the stages of the Minimal Model and also contains additional product life cycle phases like;

* Investigation Approval- This stage proposes an idea for a project that deals with investigating the product in detail and evaluating the suggestions of experienced people.

* Project Approval - The project, after assessing the research work, gets an approval to move forward to the development of proposed strategies.

* Schedule Approval - The product gets an approval on the functional and implementation issues of the project.

* Launch Plan Approval - an approval to introduce the plan.

* Alpha - Here the product's status and schedules are reviewed to ensure that the plan is fully documented.

* UI freeze- This is the User Interface Freeze. This is done with the finalization of how the product will appear in the market.

* Launch Approval - this stage ensures that all requirements are fulfilled to introduce the product in the market.

* Beta - The product status and schedule is again reviewed for its stability in the market.

* Code Freeze - This stage freezes the source code of the product.

* Release Approval - It covers the release of the product in various areas. For example, engineering release, manufacturing release, print and packaging release.

* Project Completion - verifies that the rebuilt archive of the product and audit trials has been collected and stored.

Smorgasboard Product Life Cycle Model is a new process which is still under development.

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