PMP Certification Practice Test 9

A product can spawn a single project in its life. Product lifecycle management (PLM) is the process of managing the entire lifecycle of a product from its conception, through design and manufacture, to service and disposal. PLM integrates people, data, processes, and business systems to provide a product information backbone for companies. The five stages of each product lifecycle are product development, introduction, growth, maturity, and decline. A product can spawn or require many projects over its life.