Industrial and Systems Engineering
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EGR 507 Product Life Cycle Management
3 Credit Hours
This course covers the management of complex technical products during all phases of the product life cycle. It is a broad survey of all the tools needed by the technical product manager throughout the life cycle of a complex product. The course is taught with a systems approach and from the engineering manager’s viewpoint. The product life cycle includes all aspects of managing products from launch through maturity. The course covers understanding customer needs, product design and packaging, market segmentation, pricing, sales and distribution, technical sales support, training, technical services and support, product evolution and upgrades, and management of disruption. A particular emphasis is placed on the needs of complex high technology products and related engineering services. Business topics are covered as necessary to meet the needs of the engineering manager. Students are expected to learn good communication skills.
Graduate standing with an undergraduate technical degree.
This course is complementary to the sister course EGR 506 “Managing new Hi-Tech Product Launches”. The courses may be taken in either order and both may be taken for credit. This course focuses on managing products throughout the product life cycle, and “Managing New Hi-Tech Product Launches” focuses on new product planning, design and initial market launch. Together, the two courses prepare a student for a career role in Product Management, a good transitory step between engineering and more senior management positions.
Upon completion of this course students will:
- Understand the principal issues involved in technical product management throughout all phases of the product life cycle.
- Be able to develop, plan and manage with a product management plan that covers design, development, test, marketing and sales, and customer support.
- Be skilled at participating in the development of a strategic plan that relates to organizational objectives for a product or product area including its phase out and replacement at the end of the product life cycle.
- Understand the relationship of supply chain issues and performance as it relates to the product manager’s job.
- Be aware of product liability issues, product warranties and their management and product recalls and their impact and management.
- Acquire basic financial management tools needed by product managers.
- Learn about the role of regulatory agencies and administrative law as it affects the provision of products to the marketplace.
- Become exposed to several markets through case studies including pharmaceutical, medical device, software, alternative energy products, electronics, telecommunications and entertainment products. Case studies will be sued so that students can learn the similarities and differences impacting product management in different markets.
- The Product Lifecycle Model
- Product Planning
- Understanding Customer Needs
- Product Teams
- Managing Product Design and Development
- System Integration
- Outsourcing and Managing Suppliers
- Supply Chain Analysis
- Product Field Testing
- Regulatory Environment
- Companion Services and Training
- Sales, Distribution and Presales Support
- Market Segmentation, Positioning and Pricing
- Sales, Distribution and pre-sales Support
- Providing Customer Service and CRM
- Product Safety, Recalls and Warranties
- Managing Product Upgrades
- Managing and Responding to Disruption
- Life Cycle Cost, P&L Management and ROI
The course requires extensive reading and case studies. Students will be required to complete two case study reports. In addition, students will complete a product management plan as a course project. There will be a midterm and a final, both open book. The course grade will be determined from the following formula:
Case Studies 20%
The Product Manager’s Desk Reference, by Steven Haines. 2nd Edition
Publication Date: June 6,2014
ISBN-10: 0071824502 | ISBN-13: 978-0071824507 ~$77
The total cost of all required materials for this course (textbook plus case materials) is expected to be approximately b$130.00.
Computer and Software Requirements
Please review minimum computer specifications recommended by NC State University and Engineering Online.