Product Life Cycle vs. Service Life Cycle

Majority of the time-bound projects have an objective in mind, i.e. production of a product. When the delivery of the project is done, the project automatically comes to an end. What is a Product Life Cycle? In simple terms, the product life cycle indicates the revenue amount generated by a product over a period of time, right from its inception to its discontinuation. There are five common stages that make up a product cycle. These [...]

NPD – New Product Development as part of the Project Portfolio

The accurate understanding and anticipation of emerging market needs and lucrative opportunities is the basis for successful New Product Development (NPD) in project portfolio. The project managers and senior leadership in an organization will consistently face challenges with regards to allocation of institutional resources for launching the right products each time. It is critical not to make a mistake when planning a product launch as it could have a devastating impact on the finances and [...]