<p>Copyright TM Forum 2005<br/></p><p><br/></p><p>This vertical end-end process grouping is responsible for the definition, planning, design and implementation of all products in the enterprise’s portfolio. The Product Lifecycle Management vertical end-end processes manage products to required profit and loss margins, customer satisfaction and quality commitments, as well as delivering new products to the market. These lifecycle processes understand the market across all key functional areas, the business environment, customer requirements and competitive offerings in order to design and manage products that succeed in their specific markets. Product Management processes and the Product Development process are two distinct process types. Product Development is predominantly a project-oriented process that develops and delivers new products to customers, as well as new features and enhancements for existing products and services.<br/></p>