2023 AIPMM CPM Product Management Certification With NGN

2023 AIPMM CPM Product Management Certification With NGN

Product Management - Answer process of conceiving, planning, developing, testing, launching, delivery and withdrawing products in the market.

PMF - Product Management Framework - Answer Product lifecycle (Product Development + Commercialization) stages plus their phases and gates.

PMF Benefits (5) - Answer 1. define common language
2. provides standards for launching a products in each phase
3. allows product teams to develop and communicate mutual product plan commitments
4. empowers product team to execute based upon agreed upon objectives and schedules
5. facilitates continuous 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 product or portfolio, across industries, throughout each phase of the product lifecycle.

X-Axis PLC Stages (6) - Answer 1. New product dev/acquisition 2. 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 phases 1. conceive
2. plan
3. develop
4. qualify (test)
5. launch
6. delivery
7. retire

Phases - Answer prescribed, concurrent activities in PLC cross-functional
gate precedes each phase
successive phases require more resource commitment

Gates - Answer decision points (go, no go, Hold, Recycle) QC checkpoints

Investment control checkpoints

*Facilitate screening - evaluating new product ideas to reduce them into a smaller set.

Y-Axis Key players on a product team (8) - Answer 1. Product Manager 2. 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 of your focus at that time

Y-Axis Knowledge Areas (5) - Answer 1. Business 2. 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 take the right action at the right time. Integrates people, data, processes and business system
New Product Development + Commercialization

Product Life Cycle Characteristics - Answer 1. Determines if each product has a different life cycle
2. Determines revenue earned
3. Contributes to strategic marketing plan

Product Life 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 range of products a company has in development or available for marketplace at one time

Business Portfolio - Answer collection of businesses and products that make up a company.

Portfolio Analysis - Answer tool which helps mgmt. identify and evaluate the various businesses which make up the company

Strategic Business Unit - Answer unit of the company that has a separate mission and objectives and that can be planned independently from other company businesses

New Product Development (NPD) - 1st half of PMF - Answer complete process of bringing a new product to market. Includes first 4 steps - conceive, plan, develop, qualify. For:
1. new product in new markets
2. new product in existing markets not previously targeted 3. enhance current product in existing product line.