2023 AIPMM- CPM EXAM WITH COMPLETE SOLUTIONS
Product Management - ANSWER- process of conceiving, planning, developing, testing,launching, delivery and
withdrawing products in the market.
PMF - Product Management Framework - ANSWER- Product lifecycle (ProductDevelopment +
Commercialization) stages plus their phases and gates.
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 commitments4. empowers product team
to execute based upon agreed upon objectives and schedules
5. facilitates continuous improvements to products and processes.
Prodbok (body of knowledge) - 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 ofthe product lifecycle.
X-Axis PLC Stages (6) - ANSWER- 1. New product dev/acquisition2. introduction
3. growth/maturity/decline
4. withdrawal
5. commercialization
6. manufacturing operations
X-Axis phases of PLC (7) - ANSWER- *go/no-go gates between each phases1. conceive
2. plan
3. develop
4. qualify (test)
5. launch
6. delivery
7. retire
Phases - ANSWER- prescribed, concurrent activities in PLCcross-functional
gate precedes each phase
successive phases require more resource commitment
,Gates - 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.
Y-Axis Key players on a product team (8) - ANSWER- 1. Product Manager2. Product Mktg. Manager
3. Project Manager
4. Business Analyst
5. Dev Manager
6. QA MAnager
7. Customer Support Mgr.8. Sales
Manager
X/Y - ANSWER- X=time
Y=your focus
XY cell = details of your focus at that time
Y-Axis Knowledge Areas (5) - ANSWER- 1. Business2. Market
3. Customer
4. Product
5. Organization
Product Life Cycle - PLC - ANSWER- Manages stages that products go through from development to withdrawal from
market. Helps you take the right action at the right time.Integrates people, data, processes and business system
New Product Development + Commercialization
Product Life Cycle Characteristics - ANSWER- 1. Determines if each product has adifferent life cycle
2. Determines revenue earned
3. Contributes to strategic marketing plan
Product Life Cycle Benefits - 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
Product Portfolio - ANSWER- range of products a company has in development oravailable for marketplace at one time
Business Portfolio - ANSWER- collection of businesses and products that make up acompany.
Portfolio Analysis - ANSWER- tool which helps mgmt. identify and evaluate the variousbusinesses which make up the
company
Product Management - ANSWER- process of conceiving, planning, developing, testing,launching, delivery and
withdrawing products in the market.
PMF - Product Management Framework - ANSWER- Product lifecycle (ProductDevelopment +
Commercialization) stages plus their phases and gates.
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 commitments4. empowers product team
to execute based upon agreed upon objectives and schedules
5. facilitates continuous improvements to products and processes.
Prodbok (body of knowledge) - 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 ofthe product lifecycle.
X-Axis PLC Stages (6) - ANSWER- 1. New product dev/acquisition2. introduction
3. growth/maturity/decline
4. withdrawal
5. commercialization
6. manufacturing operations
X-Axis phases of PLC (7) - ANSWER- *go/no-go gates between each phases1. conceive
2. plan
3. develop
4. qualify (test)
5. launch
6. delivery
7. retire
Phases - ANSWER- prescribed, concurrent activities in PLCcross-functional
gate precedes each phase
successive phases require more resource commitment
,Gates - 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.
Y-Axis Key players on a product team (8) - ANSWER- 1. Product Manager2. Product Mktg. Manager
3. Project Manager
4. Business Analyst
5. Dev Manager
6. QA MAnager
7. Customer Support Mgr.8. Sales
Manager
X/Y - ANSWER- X=time
Y=your focus
XY cell = details of your focus at that time
Y-Axis Knowledge Areas (5) - ANSWER- 1. Business2. Market
3. Customer
4. Product
5. Organization
Product Life Cycle - PLC - ANSWER- Manages stages that products go through from development to withdrawal from
market. Helps you take the right action at the right time.Integrates people, data, processes and business system
New Product Development + Commercialization
Product Life Cycle Characteristics - ANSWER- 1. Determines if each product has adifferent life cycle
2. Determines revenue earned
3. Contributes to strategic marketing plan
Product Life Cycle Benefits - 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
Product Portfolio - ANSWER- range of products a company has in development oravailable for marketplace at one time
Business Portfolio - ANSWER- collection of businesses and products that make up acompany.
Portfolio Analysis - ANSWER- tool which helps mgmt. identify and evaluate the variousbusinesses which make up the
company
