Editing Product lifecycle (section)

==Overview of product lifecycle management ==
Within PLM there are five primary areas;
# [[Systems engineering]] (SE) is focused on meeting all requirements, primarily meeting customer needs, and coordinating the systems design process by involving all relevant disciplines. An important aspect of lifecycle management is a subset within Systems Engineering called [[Reliability Engineering]]. 
# [[Product management|Product]] and [[Project portfolio management|portfolio management<sup>2</sup>]] (PPM) are focused on managing resource allocation, tracking progress, planning for [[new product development]] projects that are in process (or in a holding status). Portfolio management is a tool that assists management in tracking progress on new products and making trade-off decisions when allocating scarce resources.
# [[Product design]] (CAx) is the process of creating a new product to be sold by a business to its customers. 
# [[Manufacturing process management]] (MPM) is a collection of technologies and methods used to define how products are to be manufactured. 
# [[Product data management]] (PDM) is focused on capturing and maintaining information on products and/or services through their development and useful life. Change management is an important part of PDM/PLM.

''Note: While application software is not required for PLM processes, the business complexity and rate of change requires organizations to execute as rapidly as possible.''