CIPM Exam 2024| Questions and Answers| Correctly Solved

CIPM Exam 2024| Questions and Answers| Correctly Solved Product innovation charter is a plan for the firm's initiatives in new product development. It provides the clarification of goals and a common language for all personnel involved in new products. Background key ideas from the situation analysis, special forces such as managerial dicta, reasons for preparing a new PIC. Focus at least one clear technology dimension and one clear market dimension. They match and have good potential. Goals-Objectives What the project will accomplish, either short term as objectives or longer term as goals. Evaluation measurements. Guidelines Any requirements imposed by the situation or by the upper management. Innovativeness, order of market entry, time/quality/cost, miscellaneous. Why is a PIC used? NPD is a cross-functional activity and the PIC helps teams to stay on the same page. PICs provide common language for members to follow. Reduces the chances of scope creep and unstable product specifications.