Product Lifecycle Management is an important process to follow from Cradle to Grave of your product. Each stage has its own goals and processes to follow before graduating to the next. Setting up proper milestones and requirements is key to maximizing efficiency and minimizing waste in your product development.
Learn about the various discrete stages of PLM:
- Product Requirements Document (PRD)
- New Product Introduction (NPI)
- Engineering Validation and Test (EVT)
- Design Validation and Test (DVT)
- Production Validation and Test (PVT)
- Mass Production (MP)
- End of Life (EOL)
Creating an MVP (Minimum Viable Product) is a crucial early step in any product development lifecycle - for both hardware and software. It's useful to get a product to market early, so you can begin collecting user feedback and tuning your product for the greatest impact. However, if you're not diligent in your development process, the MVP can be a complete failure and provide little to no value. Learn about writing a PRD (Product Requirements Document) first
There are explicit stages of any hardware product, from initial concept to final disposition. It is crucial to properly follow the goals and exit criteria for each of these stages, to ensure a greater chance of a successful product launch. Not paying attention to these details can result in excessive costs and delays. Learn what each stage is used for and how to properly exit them.