4. Agile Product Management

4.2 Product Lifecycle

Guide to Product Ownership Analysis

IIBA.org KnowledgeHub Guide to Product Ownership Analysis 4. Agile Product Management 4.2 Product Lifecycle

POA is applied throughout the product lifecycle.

Effective analysis throughout each product lifecycle stage allows the team to ensure:

Fast feedback is used to evolve the product
Ongoing customer value is delivered

POA practices applied at each product lifecycle stage:

Product Lifecycle Stage	POA Practice
Incubation	Identify and understand customer needs, gaps, and opportunities, using cost-effective customer-centric design approaches. Improve the quality of product ideas. Evolve the understanding of customers and the marketplace to solidify a strong product vision.
Build	Help Develop a strong value proposition for customers. Target market segments with a suitable value proposition. Solidify implementation plans, using relevant strategies for market segments and product launch strategies.
Launch	Help fine-tune mechanisms to capture product metrics and customer feedback. Provide opportunities to tweak product features based on initial launch success. Manage organizational expectations based on the market introduction. Plan and devise additional tactics for product growth and market penetration based on initial results.
Growth	Tweak the product to deliver additional customer value. Search for additional tactics based on market feedback to increase product adoption and utility. Identify ways to evolve the product organically. Implement and test product growth strategies to identify the best ones. Plan and execute implementation tactics to achieve desired product goals e.g., acceptance, adoption, or profitability goals.
Maturity	Sustain the product by continuously adapting to changing customer expectations. Apply various strategies to improve, redesign, and optimize the overall customer experience to extend the life of the product. Plan to revive the product for additional growth. Plan to retire the product.
Decline	Codify learnings and successes so they can be reused in future products. Implement plans to retire the product. Migrate customers to other products.