"The period of time, consisting of phases, that begins when a product is conceived and ends when the product is no longer available for use. Since an organization may be producing multiple products for multiple customers, one description of a product life cycle may not be adequate. Therefore, the organization may define a set of approved product life-cycle models. These models are typically found in published literature and are likely to be tailored for use in an organization. A product life cycle could consist of the following phases: (1) concept/vision, (2) feasibility, (3) design/development, (4) production, and (5) phase out." (Sandy Shrum et al, "CMMI®: Guidelines for Process Integration and Product Improvement", 2003)
"The period of time that begins when a product is conceived and ends when the product is no longer available for use. This cycle typically includes phases for concept definition (verifies feasibility), full-scale development (builds and optionally installs the initial version of the system), production (manufactures copies of the first article), transition (transfers the responsibility for product upkeep to another organization), operation and sustainment (repairs and enhances the product), and retirement (removes the product from service). Full-scale development may be divided into subphases to facilitate planning and management such as requirements analysis, design, implementation, integration and test, installation and checkout." (Richard D Stutzke, "Estimating Software-Intensive Systems: Projects, Products, and Processes", 2005)
"A term to describe a product, from its conception to its discontinuance and ultimate market withdrawal." (Steven Haines, "The Product Manager's Desk Reference", 2008)
"a model of the sales and profits of a product category from its introduction until its decline and disappearance from the market; focuses on the appropriate strategies at each stage." (Gina C O'Connor & V K Narayanan, "Encyclopedia of Technology and Innovation Management", 2010)
"A collection of generally sequential, non-overlapping product phases whose name and number are determined by the manufacturing and control needs of the organization. The last product life cycle phase for a product is generally the product's retirement. Generally, a project life cycle is contained within one or more product life cycles." (Cynthia Stackpole, "PMP® Certification All-in-One For Dummies®", 2011)
"The series of phases that represent the evolution of a product, from concept through delivery, growth, maturity, and to retirement." (For Dummies, "PMP Certification All-in-One For Dummies" 2nd Ed., 2013)
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