2023 AIPMM- CPM EXAM WITH COMPLETE SOLUTIONS

2023 AIPMM- CPM EXAM WITH COMPLETE SOLUTIONS

Product Management - ANSWER- processofconceiving, planning, developing, testing,launching, delivery and
withdrawing products in the market.
PMF - Product Management Framework - ANSWER- Product lifecycle (ProductDevelopment +
Commercialization) stages plus their phases and gates.
PMF Benefits (5) - ANSWER- 1. definecommon language
2. provides standardsfor launching a productsin each phase
3. allows product teams to develop and communicate mutual product plan commitments4. empowers product team
to execute based upon agreed upon objectives and schedules
5. facilitatescontinuous improvements to products and processes.
Prodbok (body of knowledge) - ANSWER- strategies, methodologies, concepts, terms and activities that make up the
product mgmt. and marketing domains as defined by AIPMM. Applies to any productor portfolio, across industries,
throughouteach phaseofthe product lifecycle.
X-Axis PLC Stages (6) - ANSWER- 1. New product dev/acquisition2. introduction
3. growth/maturity/decline
4. withdrawal
5. commercialization
6. manufacturing operations
X-Axis phases of PLC (7) - ANSWER- *go/no-go gates between each phases1. conceive
2. plan
3. develop
4. qualify (test)
5. launch
6. delivery
7. retire
Phases- ANSWER- prescribed, concurrent activities in PLCcross-functional
gate precedeseach phase
successive phasesrequire moreresourcecommitment
Gates - ANSWER- decision points (go, no go, Hold, Recycle)
QC checkpoints
Investmentcontrolcheckpoints
*Facilitatescreening -evaluating new product ideasto reduce them into a smaller set.
Y-Axis Key players on a product team (8) - ANSWER- 1. Product Manager2. Product Mktg. Manager
3. Project Manager
4. Business Analyst
5. Dev Manager
6. QA MAnager
7. Customer Support Mgr.8. Sales
Manager
X/Y - ANSWER-X=time
Y=your focus
XY cell = details ofyour focus at that time
Y-Axis Knowledge Areas (5) - ANSWER- 1. Business2. Market
3. Customer
4. Product
5. Organization
Product Life Cycle - PLC - ANSWER- Manages stages that products go through from development to withdrawal from
market. Helps you taketheright action at theright time.Integrates people, data, processes and business system
New Product Development + Commercialization
Product Life Cycle Characteristics - ANSWER- 1. Determines if each product has adifferent life cycle
2. Determinesrevenueearned
3. Contributesto strategic marketing plan
ProductLife Cycle Benefits - ANSWER- 1. helps forecast and manage cash flow
2. helps identify when a product needs support, redesign, reinvigorated, or withdrawn.3. helps in new product
development and planning
Product Portfolio - ANSWER- rangeof products a company has in developmentoravailablefor marketplace at one time
Business Portfolio - ANSWER-collection of businesses and products that make up acompany.
Portfolio Analysis - ANSWER-tool which helps mgmt. identify and evaluate thevariousbusinesses which make up the
company