AIPMM Product Management Certification | UPDATED Questions
with 100% Verified Answers
Question: Product Management is ...
Answer:
... a process of conceiving, planning, developing, testing, launching, delivering, and withdrawing products in
the market.
Question: The Product Management Framework (PMF) is ...
Answer:
The product lifecycle (Product Development + Commercialization) stages plus their phases and gates.
Question: PMF Benefits (5)
Answer:
1. define common language 2. provides standards for launching a products in each phase 3. allows product
teams to develop and communicate mutual product plan commitments 4. empowers product team to execute
based upon agreed upon objectives and schedules 5. facilitates continuous improvements to products and
processes.
Question: The. ProdBok (product body of knowledge) is ...
Answer:
... strategies, methodologies, concepts, terms, and activities that make up the product mgmt. and marketing
domains as defined by AIPMM. Applies to any product or portfolio, across industries, throughout each phase of
the product lifecycle.
Question: X-Axis PLC Stages (6)
Answer:
1. New product dev/acquisition 2. introduction 3. growth/maturity/decline 4. withdrawal 5. commercialization
6. manufacturing operations
Question: X-Axis phases of PLC (7)
Answer:
,*go/no-go gates between each phases 1. conceive 2. plan 3. develop 4. qualify (test) 5. launch 6. delivery 7.
retire
Question: The term 'Phases' in the PLC is defined as ...
Answer:
... prescribed, concurrent activities in PLC cross-functional gate precedes each phase successive phases require
more resource commitment
Question: The term 'Gates' in the PLC is defined as ...
Answer:
... decision points (go, no go, Hold, Recycle) QC checkpoints Investment control checkpoints *Facilitate
screening - evaluating new product ideas to reduce them into a smaller set.
Question: Y-Axis Key players on a product team (8)
Answer:
1. Product Manager 2. Product Mktg. Manager 3. Project Manager 4. Business Analyst 5. Dev Manager 6. QA
MAnager 7. Customer Support Mgr. 8. Sales Manager
Question: In the context of the PLC, X/Y are defined as ...
Answer:
X=time Y=your focus XY cell = details of your focus at that time
Question: Y-Axis Knowledge Areas (5)
Answer:
1. Business 2. Market 3. Customer 4. Product 5. Organization
Question: The Product Life Cycle (PLC) is defined as ...
Answer:
... a process that manages the stages that products go through from development to withdrawal from the market.
It helps you take the right action at the right time. Integrates people, data, processes, and business system New
Product Development + Commercialization
Question: Product Life Cycle Characteristics (3)
Answer:
1. Determines if each product has a different life cycle 2. Determines revenue earned 3. Contributes to strategic
marketing plan
Question: Product Life Cycle Benefits (3)
, Answer:
1. helps forecast and manage cash flow 2. helps identify when a product needs support, redesign, reinvigorated,
or withdrawn. 3. helps in new product development and planning
Question: The Product Portfolio is defined as ...
Answer:
... a range of products a company has in development or available for marketplace at one time
Question: A Business Portfolio is defined as ...
Answer:
... a collection of businesses and products that make up a company.
Question: Portfolio Analysis is ...
Answer:
... a tool which helps mgmt. identify and evaluate the various businesses which make up the company
Question: A Strategic Business Unit (SBU) is ...
Answer:
... a unit of the company that has a separate mission and objectives and that can be planned independently from
other company businesses
Question: New Product Development (NPD) - 1st half of PMF is ...
Answer:
complete process of bringing a new product to market. Includes first 4 steps - conceive, plan, develop, qualify.
For: 1. new product in new markets 2. new product in existing markets not previously targeted 3. enhance
current product in existing product line. *2 parallel paths = idea generation, product design, and detail
engineering + market research and analysis
Question: NPD New Product Development Steps (4) - 1st half of PMF (4)
Answer:
1. conceive 2. plan 3. develop 4. qualify
Question: Key Deliverables in conceive and plan phase (7)
Answer:
1. Strategic Plan 2. Competitive analysis 3. Market Trends 4. Mktg requirements doc 5. Business Case 6.
Product Requirements doc 7. Product roadmap
with 100% Verified Answers
Question: Product Management is ...
Answer:
... a process of conceiving, planning, developing, testing, launching, delivering, and withdrawing products in
the market.
Question: The Product Management Framework (PMF) is ...
Answer:
The product lifecycle (Product Development + Commercialization) stages plus their phases and gates.
Question: PMF Benefits (5)
Answer:
1. define common language 2. provides standards for launching a products in each phase 3. allows product
teams to develop and communicate mutual product plan commitments 4. empowers product team to execute
based upon agreed upon objectives and schedules 5. facilitates continuous improvements to products and
processes.
Question: The. ProdBok (product body of knowledge) is ...
Answer:
... strategies, methodologies, concepts, terms, and activities that make up the product mgmt. and marketing
domains as defined by AIPMM. Applies to any product or portfolio, across industries, throughout each phase of
the product lifecycle.
Question: X-Axis PLC Stages (6)
Answer:
1. New product dev/acquisition 2. introduction 3. growth/maturity/decline 4. withdrawal 5. commercialization
6. manufacturing operations
Question: X-Axis phases of PLC (7)
Answer:
,*go/no-go gates between each phases 1. conceive 2. plan 3. develop 4. qualify (test) 5. launch 6. delivery 7.
retire
Question: The term 'Phases' in the PLC is defined as ...
Answer:
... prescribed, concurrent activities in PLC cross-functional gate precedes each phase successive phases require
more resource commitment
Question: The term 'Gates' in the PLC is defined as ...
Answer:
... decision points (go, no go, Hold, Recycle) QC checkpoints Investment control checkpoints *Facilitate
screening - evaluating new product ideas to reduce them into a smaller set.
Question: Y-Axis Key players on a product team (8)
Answer:
1. Product Manager 2. Product Mktg. Manager 3. Project Manager 4. Business Analyst 5. Dev Manager 6. QA
MAnager 7. Customer Support Mgr. 8. Sales Manager
Question: In the context of the PLC, X/Y are defined as ...
Answer:
X=time Y=your focus XY cell = details of your focus at that time
Question: Y-Axis Knowledge Areas (5)
Answer:
1. Business 2. Market 3. Customer 4. Product 5. Organization
Question: The Product Life Cycle (PLC) is defined as ...
Answer:
... a process that manages the stages that products go through from development to withdrawal from the market.
It helps you take the right action at the right time. Integrates people, data, processes, and business system New
Product Development + Commercialization
Question: Product Life Cycle Characteristics (3)
Answer:
1. Determines if each product has a different life cycle 2. Determines revenue earned 3. Contributes to strategic
marketing plan
Question: Product Life Cycle Benefits (3)
, Answer:
1. helps forecast and manage cash flow 2. helps identify when a product needs support, redesign, reinvigorated,
or withdrawn. 3. helps in new product development and planning
Question: The Product Portfolio is defined as ...
Answer:
... a range of products a company has in development or available for marketplace at one time
Question: A Business Portfolio is defined as ...
Answer:
... a collection of businesses and products that make up a company.
Question: Portfolio Analysis is ...
Answer:
... a tool which helps mgmt. identify and evaluate the various businesses which make up the company
Question: A Strategic Business Unit (SBU) is ...
Answer:
... a unit of the company that has a separate mission and objectives and that can be planned independently from
other company businesses
Question: New Product Development (NPD) - 1st half of PMF is ...
Answer:
complete process of bringing a new product to market. Includes first 4 steps - conceive, plan, develop, qualify.
For: 1. new product in new markets 2. new product in existing markets not previously targeted 3. enhance
current product in existing product line. *2 parallel paths = idea generation, product design, and detail
engineering + market research and analysis
Question: NPD New Product Development Steps (4) - 1st half of PMF (4)
Answer:
1. conceive 2. plan 3. develop 4. qualify
Question: Key Deliverables in conceive and plan phase (7)
Answer:
1. Strategic Plan 2. Competitive analysis 3. Market Trends 4. Mktg requirements doc 5. Business Case 6.
Product Requirements doc 7. Product roadmap
