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This is our eighth post in our Project Management Professional (PMP) Concepts Learning Series
(/blog/announcement-ppm-launching-pmp-concept-learning-series)
Each post within this series will present a comparison of common concepts that appear on the PMP and Certi+ed
Associate in Project Management (CAPM) exams.
Although the PMP and CAPM exams will be testing your knowledge of project management, it is possible that you will
be asked the difference between a project life cycle and the product life cycle. Although they both have sequential
phases, there are some distinct differences.
Project life cycles will vary based on the industry, the organization, or even the type of project that is being conducted.
There are usually transitions between the phases that require some type of handoff or information or component
transfer.
Generally speaking, staf+ng levels and costs are low at the beginning of the project life cycle and then peak during the
middle. Risk, or uncertainty, however, is greater at the beginning of the project life cycle and decreases as the project
becomes increasingly de+ned.
The project will be developed iteratively and there are deliverables required for each phase. Initially, the project will
have +ve team members, but as the project moves into Design and Development, the project team will expand to more
than 30 team members.
Ideation
Creation
Introduction
Growth
Maturity
Decline
Retirement
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The product life cycle can include multiple project life cycles.
The project life cycle would encompass the actual building of the new phone, but once the phone is complete, it is
released to operations for sales and marketing and order ful+llment.
As technology advances and consumer preferences change, the cell phone will mature, decline and eventually be
retired. Retirement would potentially drive multiple projects to remove the cell phone from inventory, change company
collateral and complete other activities associated with the product retirement.
Summary
The project life cycle differs by industry, organization, project type and encompasses sequential and overlapping
phases.
The product life cycle does not differ regardless of the type of product, has sequential but non-overlapping phases,
and may include multiple project life cycles.
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