Sales and profits ($) Time Product development} Introduction Growth Maturity Decline Losses/ investment ($)%The Product Lifecycle is longer than the Project Lifecycle Product Lifecycle 4 Idea & study Trager Product Life Cycle INITIAL i > > 4 Produce the Design Spee ® Develop the product and deliverables 2 Do the user acceptance testing and authoring ofthe installation and support manuals cs Implementation — handover ~ customer satisfied \ Project Life Cycle 8 Spey th ts Product Lifecycle 4 Product now being used 4 Value to the business being assessed 4 Product Innovation; relaunch ‘with go fasterstripes 8 Scrapitifitis of no further useInitiating Planning Executing Monitoring Closing Process Process: Process and Controlling Process, Group Group Group Process. Group Group Level of Process Interaction Process Groups Interact in a Phase or Project