life cycle management
The progression of a product from its launch into a market its growth and popularity and eventual decline and removal from the same market is known as the product life cycle. Product life cycle management plm is the integration of all aspects of a product taking it from conception through the product life cycle plc to the disposal of the product and components. There are different types of project life cycle and one of them is the predictive life cycle.
The life cycle of a particular project is composed of different phases around which the project management scheme is organized.
Life cycle management. Product life cycle management plm is the succession of strategies by business management as a product goes through its life cycle the conditions in which a product is sold advertising saturation changes over time and must be managed as it moves through its succession of stages. Project management activities are made up of a series of phases that project needs to pass through from initiation to termination or closure. There are different types of project life cycle depending on the organization involved as well as the phases. Plm merges the overarching vision that an organization has for managing the data people software manufacturing marketing and overall plans for the.
And while the project management life cycle might not sound that interesting it is important because the project management life cycle is what we as project managers lead and facilitate. Between the beginning and end points the project can be divided into four phases. One of the project life cycles important in project management is the adaptive life cycle. It aims to assist them to manage the growing demand and expectations in the field of life cycle management.
The air force life cycle management center aflcmc headquartered at wright patterson afb is one of six centers reporting to the air force materiel command. The project management life cycle provides a framework for managing any type of project. The lcm life cycle management conference series is one of the world s leading forums for environmental economic and social sustainability. The predictive life cycle is defined as the scope of the project including time and costs that are necessary to deliver it are determined early in the.
Led by a lieutenant general aflcmc is charged with life cycle management of air force weapon systems from their inception to retirement the aflcmc mission is to acquire and support war winning capabilities. It can be broken up into 4 basic stages. The project management life cycle describes the high level process of delivering a project and the steps you take to make things happen. The life cycle management navigator is a capacity building guide and decision support tool specifically designed for corporate decision makers in small and medium sized enterprises smes worldwide.
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