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Quiz No 2a Solution

A project life cycle follows standard phases like initiation, planning, execution, monitoring and closing. It may vary slightly by project type but generally follows the PMBOK framework. A product life cycle has two categories: pre-sales involving engineering, manufacturing and production; and post-sales which is the product's market life cycle involving introduction, growth, maturity, saturation and decline. The pre-sales phase focuses on bringing the product to market while the post-sales phase tracks its commercial performance in the market over time.

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20 views

Quiz No 2a Solution

A project life cycle follows standard phases like initiation, planning, execution, monitoring and closing. It may vary slightly by project type but generally follows the PMBOK framework. A product life cycle has two categories: pre-sales involving engineering, manufacturing and production; and post-sales which is the product's market life cycle involving introduction, growth, maturity, saturation and decline. The pre-sales phase focuses on bringing the product to market while the post-sales phase tracks its commercial performance in the market over time.

Uploaded by

Amber Younas
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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CASE

Center for Advanced studies in Engineering Course: Engineering Project Management (Fall 2010) Instructor: Dr. Ali Ahsan Quiz No 2 Section A Solution
Total Marks: 10 Name: Registration No: Note: Be precise and logical. Question) Explain the difference between project and product life cycle? Answer) A project life cycle is similar to the life cycle as pointed out by PMBOK such as initiation, planning, execution, monitoring & control and closing. It is important to note that project life cycle may have some variation based on project type but overall the cycle remains similar to one pointed out by PMI. Product life cycle on the other hand can be distributed into 2 categories. Pre sales and post sales. In pre sales the product is in its production phase and therefore usually product life cycle during this phase encompasses the engineering / manufacturing / production cycle of the product. Once product is given to the customer and ready for sales (post sales) then product experiences life cycle based on its market. Product life cycle after sales has to do with the life of a product in the market with respect to business/commercial costs and sales measures. Post sales life cycle include stages such as Market introduction stage, Growth stage, Mature stage, Saturation and decline stage (note terminologies may vary from book to book). Please do not confuse pre and post sales here with project pre and post sales. Total time: 10 mins

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