It is said that we should learn from history, but far too often, product management fails to take the time to learn from others' mistakes. Product Lifecycle Management (PLM) is not a new concept; in fact, it has existed (in various forms and disguises) since people began building things. However, since the invention of computer aided design and computer aided manufacturing, the formal definition of this process, as well as the tools required to perform successful PLM, have only been described. Learning from other projects' failures and implementing good product lifecycle management will ensure success in terms of deliverable dates, budget, and customer satisfaction, as well as provide managers with the tools and data they need to make business decisions.
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