Product Development Life Cycle (PDLC)
Product Development Life Cycle (PDLC) is a framework that outlines the stages involved in bringing a product from conception to market. It is a systematic approach to product development that helps Product Managers to ensure that the final product meets the needs of the target audience, is delivered on time, and within budget. The PDLC consists of six stages:
1. Idea Generation: This stage involves brainstorming and identifying potential product ideas. The ideas can come from various sources such as customer feedback, market research, or internal innovation programs.
2. Concept Development: In this stage, the product idea is refined and developed into a concept. The concept includes the product features, benefits, and target market. It also outlines the project scope, timeline, and budget.
3. Planning: During this stage, the project plan is created, which includes the project schedule, budget, and resource allocation. The team is also established, and roles and responsibilities are assigned.
4. Design and Development: This stage involves designing and developing the product. The design includes the product's appearance, functionality, and user experience. The development includes building the product, testing it, and making necessary changes.
5. Testing and Validation: During this stage, the product is tested to ensure that it meets the requirements and specifications outlined in the concept. The product is also validated with target customers to ensure that it meets their needs.
6. Launch and Post-Launch: This stage involves launching the product to the market and monitoring its performance. The team collects feedback from customers and makes necessary improvements to the product.
In conclusion, the PDLC is a critical framework that helps Product Managers to develop products that meet the needs of the target audience. By following the six stages of the PDLC, Product Managers can ensure that the product is delivered on time, within budget, and meets the quality standards.