KPI Library - Product Lifecycle Management KPIs

Why use the KPI Library?

Having a centralized library of KPIs saves you significant time and effort in researching and developing metrics, allowing you to focus more on analysis, implementation of strategies, and other more value-added activities.

This vast range of KPIs across various industries and functions offers the flexibility to tailor Performance Management and Measurement to the unique aspects of your organization, ensuring more precise monitoring and management.

Each KPI in the KPI Library includes 12 attributes:

KPI definition
Potential business insights [?]
Measurement approach/process [?]
Standard formula [?]
Trend analysis [?]
Diagnostic questions [?]
Actionable tips [?]
Visualization suggestions [?]
Risk warnings [?]
Tools & technologies [?]
Integration points [?]
Change impact [?]

It is designed to enhance Strategic Decision Making and Performance Management for executives and business leaders. Our KPI Library serves as a resource for identifying, understanding, and maintaining relevant competitive performance metrics.

Need KPIs for a function not listed? Email us at support@flevy.com.

We have 31 KPIs on Product Lifecycle Management in our database. KPIs are integral to Product Lifecycle Management as they provide quantifiable metrics that guide product managers in making informed decisions throughout a product's life. By establishing specific, measurable targets, KPIs help track progress, efficiency, and success in various stages, from development through to decline.

They enable managers to identify areas of strength and pinpoint issues that may require intervention or strategy adjustments, ensuring resources are effectively allocated to optimize performance. KPIs also facilitate communication across teams and stakeholders by offering clear and objective data points that reflect the product's health and market performance. Ultimately, the use of KPIs in Product Lifecycle Management helps organizations align their product strategies with business objectives, maximize return on investment, and sustain competitive advantage.

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KPI	Definition	Business Insights [?]	Measurement Approach	Standard Formula
Average Time to Resolution (ATTR) More Details	The average time taken to resolve a product issue or defect after it has been identified, which can impact customer satisfaction.	Highlights the effectiveness of the support and development teams in addressing product issues, which can impact customer satisfaction.	Measures the average time taken to resolve issues or defects after they have been reported.	Total Time Taken to Resolve Issues / Number of Issues Resolved
Trend Analysis [?] Increasing average time to resolution may indicate growing complexity of product issues or a lack of resources to address them. A decreasing trend could signal improved product quality or more efficient resolution processes. Diagnostic Questions [?] Are there common root causes for product issues that are prolonging resolution times? How does our average time to resolution compare with industry benchmarks or customer expectations? Actionable Tips [?] Implement a robust issue tracking and management system to streamline the resolution process. Invest in training and development for product support and technical teams to enhance their problem-solving skills. Regularly review and update product documentation to ensure accurate and helpful troubleshooting information is available. Visualization Suggestions [?] Line charts showing the average time to resolution over time to identify trends and seasonal variations. Pareto charts to highlight the most common reasons for prolonged resolution times. Risk Warnings [?] Prolonged resolution times can lead to customer frustration and dissatisfaction, impacting retention and brand reputation. Consistently high average time to resolution may indicate systemic issues in product development or support processes. Tools & Technologies [?] Customer relationship management (CRM) systems with case management capabilities to track and prioritize product issues. Collaboration tools like Slack or Microsoft Teams to facilitate communication and knowledge sharing among product support teams. Integration Points [?] Integrate average time to resolution data with customer feedback systems to understand the impact of resolution times on satisfaction. Link resolution time tracking with product development processes to identify recurring issues and prioritize improvements. Change Impact [?] Reducing average time to resolution can lead to higher customer satisfaction and loyalty, positively impacting long-term revenue. However, overly aggressive targets for resolution times may compromise the thoroughness and quality of issue resolution.
Break-Even Time More Details	The time required for a product to generate enough revenue to cover the initial investment made in its development and marketing.	Provides insight into the speed at which a new product starts generating profit, reflecting the product's market fit and adoption rate.	Assesses the time it takes for a product to become profitable after its launch.	Total Development and Marketing Costs / (Average Selling Price per Unit - Variable Costs per Unit)
Trend Analysis [?] Break-even time may decrease over time as the product gains traction and market share. An increasing break-even time could indicate market saturation or ineffective marketing strategies. Diagnostic Questions [?] Are there specific factors contributing to the length of the break-even time for different products? How does our break-even time compare with industry averages or benchmarks? Actionable Tips [?] Focus on reducing product development and marketing costs to shorten the break-even time. Implement targeted marketing campaigns to accelerate product adoption and revenue generation. Regularly review and adjust pricing strategies to optimize revenue generation. Visualization Suggestions [?] Line charts showing break-even time for different products over time. Comparative bar charts displaying break-even time for different product categories. Risk Warnings [?] A prolonged break-even time can strain financial resources and impact overall profitability. A declining break-even time may indicate aggressive pricing strategies that could lead to long-term revenue challenges. Tools & Technologies [?] Financial analysis software to track and analyze revenue generation and cost recovery. Product management platforms to monitor product development costs and revenue generation. Integration Points [?] Integrate break-even time analysis with financial reporting systems to align product performance with overall financial health. Link break-even time tracking with marketing analytics to assess the impact of marketing efforts on revenue generation. Change Impact [?] Shortening the break-even time can improve cash flow and overall financial stability. However, aggressive strategies to reduce break-even time may impact product quality or long-term profitability.
Cost of Goods Sold (COGS) More Details	The total cost of manufacturing or producing the products sold by a company, which includes materials and labor costs.	Helps in understanding the direct costs of production, which is crucial for pricing strategy and gross margin calculations.	Accounts for the direct costs associated with the production of goods sold, such as materials and labor.	Sum of Direct Costs of Producing Goods Sold
Trend Analysis [?] Increasing COGS may indicate rising material or labor costs, impacting overall profitability. Decreasing COGS could signal improved efficiency in production processes or cost-saving measures. Diagnostic Questions [?] Are there specific products with disproportionately high COGS that need to be addressed? How do our COGS compare with industry benchmarks or competitors? Actionable Tips [?] Regularly review and negotiate supplier contracts to ensure competitive pricing for materials. Invest in technology and automation to streamline production processes and reduce labor costs. Conduct regular cost analysis to identify areas for cost reduction without sacrificing product quality. Visualization Suggestions [?] Line charts showing COGS trends over time to identify cost fluctuations. Pie charts to visualize the composition of COGS by material, labor, and other costs. Risk Warnings [?] Rising COGS may lead to reduced profit margins and decreased competitiveness. Uncontrolled cost increases can impact pricing strategies and customer satisfaction. Tools & Technologies [?] Enterprise resource planning (ERP) systems to track and analyze cost components. Cost management software for detailed cost tracking and analysis. Integration Points [?] Integrate COGS tracking with financial systems for comprehensive cost analysis and reporting. Link COGS data with procurement and inventory management systems to optimize purchasing decisions. Change Impact [?] Reducing COGS can improve profitability but may require initial investments in process optimization or technology. High COGS can affect pricing strategies and potentially impact customer retention and market positioning.
KPI Library $99/year Navigate your organization to excellence with 15,468 KPIs at your fingertips. Subscribe to the KPI Library CORE BENEFITS 31 KPIs under Product Lifecycle Management 15,468 total KPIs (and growing) 328 total KPI groups 75 industry-specific KPI groups 12 attributes per KPI Full access (no viewing limits or restrictions) FlevyPro and Stream subscribers also receive access to the KPI Library. You can login to Flevy here.
Customer Lifetime Value (CLV) More Details	The total worth to a business of a customer over the whole period of their relationship.	Indicates the long-term value of customers, guiding customer relationship management and marketing investment decisions.	Estimates the total revenue a business can expect from a single customer account throughout the business relationship.	(Average Revenue per User * Gross Margin) / Churn Rate
Trend Analysis [?] Increasing CLV may indicate successful customer retention and satisfaction strategies. Decreasing CLV could signal issues with product quality, customer service, or competitive pressures. Diagnostic Questions [?] What factors contribute to the increase or decrease in CLV for different customer segments? How does our CLV compare with industry benchmarks or with competitors? Actionable Tips [?] Invest in customer relationship management (CRM) systems to better understand and cater to customer needs. Focus on improving customer experience and satisfaction to increase CLV. Implement loyalty programs or personalized marketing strategies to enhance customer retention. Visualization Suggestions [?] Line charts showing CLV trends over time for different customer segments. Pareto charts to identify the most valuable customers contributing to overall CLV. Risk Warnings [?] Low CLV may indicate a lack of customer loyalty and potential churn. High CLV for a few customers may pose a risk if they make up a significant portion of revenue and are lost. Tools & Technologies [?] Customer analytics platforms like Salesforce or HubSpot for tracking and analyzing customer behavior and preferences. Customer success management software to proactively manage customer relationships and maximize CLV. Integration Points [?] Integrate CLV tracking with sales and marketing systems to align efforts with high-value customer segments. Link CLV with product development and innovation processes to prioritize features and enhancements for high-value customers. Change Impact [?] Increasing CLV can lead to higher revenue and profitability, but may require investment in customer retention strategies. Decreasing CLV can impact overall business performance and may require a reassessment of customer value propositions.
Customer Retention Rate More Details	The percentage of customers who continue to buy a company's products over a given period, indicative of customer loyalty and product satisfaction.	Signals the loyalty of the customer base and the effectiveness of retention strategies, which can influence recurring revenue.	Measures the percentage of customers who continue to buy products or use services over a given period.	(Number of Customers at End of Period - Number of New Customers Acquired During Period) / Number of Customers at Start of Period * 100
Trend Analysis [?] Increasing customer retention rate may indicate improved product quality or customer service. A decreasing rate could signal dissatisfaction with products or competition gaining market share. Diagnostic Questions [?] Are there specific products or product categories with consistently high or low retention rates? How does our customer retention rate compare with industry benchmarks or with our competitors? Actionable Tips [?] Invest in customer feedback mechanisms to understand reasons for customer churn and take corrective actions. Focus on building strong customer relationships through personalized communication and loyalty programs. Continuously improve product quality and innovation to meet evolving customer needs and expectations. Visualization Suggestions [?] Line charts showing customer retention rate over time. Pie charts to compare retention rates across different customer segments or product categories. Risk Warnings [?] Low customer retention rates can lead to reduced revenue and market share. High retention rates without corresponding growth may indicate a lack of new customer acquisition. Tools & Technologies [?] Customer Relationship Management (CRM) software to track customer interactions and preferences. Analytics tools to identify patterns and reasons for customer attrition. Integration Points [?] Integrate customer retention data with sales and marketing systems to align efforts towards retaining customers. Link retention rate with product development and innovation processes to address customer needs and preferences. Change Impact [?] Improving customer retention can lead to increased customer lifetime value and brand advocacy. However, focusing solely on retention may lead to neglecting new customer acquisition and market expansion.
Customer Satisfaction Index More Details	The degree to which customers are content with the product and its features, often measured through surveys and feedback mechanisms.	Offers insights into customer happiness, which can predict future sales and customer loyalty.	Assesses customer satisfaction levels based on surveys or feedback mechanisms.	Sum of Customer Satisfaction Scores / Number of Survey Responses
Trend Analysis [?] Increasing customer satisfaction index may indicate successful product updates or enhancements. Decreasing satisfaction index could signal issues with product quality, customer support, or user experience. Diagnostic Questions [?] Are there specific product features or aspects that consistently receive low satisfaction ratings? How does our customer satisfaction index compare to industry benchmarks or competitors? Actionable Tips [?] Regularly gather and analyze customer feedback to identify areas for improvement. Invest in customer support and training to ensure customers can fully utilize the product's features. Implement a continuous improvement process to address any recurring issues affecting customer satisfaction. Visualization Suggestions [?] Line charts showing the trend of customer satisfaction index over time. Pie charts to visualize the distribution of satisfaction ratings across different product features or categories. Risk Warnings [?] Low customer satisfaction index can lead to customer churn and negative word-of-mouth, impacting future sales. Consistently high satisfaction index in one area may mask issues in other aspects of the product. Tools & Technologies [?] Customer feedback management software to collect, organize, and analyze customer input. CRM systems to track customer interactions and identify areas for improvement. Integration Points [?] Integrate customer satisfaction data with product development processes to prioritize features or enhancements that align with customer needs. Link customer satisfaction metrics with sales and marketing systems to understand the impact on customer acquisition and retention. Change Impact [?] Improving customer satisfaction can lead to increased customer loyalty and lifetime value. Conversely, a decline in satisfaction may result in increased support costs and decreased referrals or repeat purchases.

In selecting the most appropriate Product Lifecycle Management KPIs from our KPI Library for your organizational situation, keep in mind the following guiding principles:

Relevance: Choose KPIs that are closely linked to your Product Management objectives and Product Lifecycle Management-level goals. If a KPI doesn't give you insight into your business objectives, it might not be relevant.

Actionability: The best KPIs are those that provide data that you can act upon. If you can't change your strategy based on the KPI, it might not be practical.

Clarity: Ensure that each KPI is clear and understandable to all stakeholders. If people can't interpret the KPI easily, it won't be effective.

Timeliness: Select KPIs that provide timely data so that you can make decisions based on the most current information available.

Benchmarking: Choose KPIs that allow you to compare your Product Lifecycle Management performance against industry standards or competitors.

Data Quality: The KPIs should be based on reliable and accurate data. If the data quality is poor, the KPIs will be misleading.

Balance: It's important to have a balanced set of KPIs that cover different aspects of the organization—e.g. financial, customer, process, learning, and growth perspectives.

Review Cycle: Select KPIs that can be reviewed and revised regularly. As your organization and the external environment change, so too should your KPIs.

It is also important to remember that the only constant is change—strategies evolve, markets experience disruptions, and organizational environments also change over time. Thus, in an ever-evolving business landscape, what was relevant yesterday may not be today, and this principle applies directly to KPIs. We should follow these guiding principles to ensure our KPIs are maintained properly:

Scheduled Reviews: Establish a regular schedule (e.g. quarterly or biannually) for reviewing your Product Lifecycle Management KPIs. These reviews should be ingrained as a standard part of the business cycle, ensuring that KPIs are continually aligned with current business objectives and market conditions.

Inclusion of Cross-Functional Teams: Involve representatives from outside of Product Lifecycle Management in the review process. This ensures that the KPIs are examined from multiple perspectives, encompassing the full scope of the business and its environment. Diverse input can highlight unforeseen impacts or opportunities that might be overlooked by a single department.

Analysis of Historical Data Trends: During reviews, analyze historical data trends to determine the accuracy and relevance of each KPI. This analysis can reveal whether KPIs are consistently providing valuable insights and driving the intended actions, or if they have become outdated or less impactful.

Consideration of External Changes: Factor in external changes such as market shifts, economic fluctuations, technological advancements, and competitive landscape changes. KPIs must be dynamic enough to reflect these external factors, which can significantly influence business operations and strategy.

Alignment with Strategic Shifts: As organizational strategies evolve, evaluate the impact on Product Management and Product Lifecycle Management. Consider whether the Product Lifecycle Management KPIs need to be adjusted to remain aligned with new directions. This may involve adding new Product Lifecycle Management KPIs, phasing out ones that are no longer relevant, or modifying existing ones to better reflect the current strategic focus.

Feedback Mechanisms: Implement a feedback mechanism where employees can report challenges and observations related to KPIs. Frontline insights are crucial as they can provide real-world feedback on the practicality and impact of KPIs.

Technology and Tools for Real-Time Analysis: Utilize advanced analytics tools and business intelligence software that can provide real-time data and predictive analytics. This technology aids in quicker identification of trends and potential areas for KPI adjustment.

Documentation and Communication: Ensure that any changes to the Product Lifecycle Management KPIs are well-documented and communicated across the organization. This maintains clarity and ensures that all team members are working towards the same objectives with a clear understanding of what needs to be measured and why.

By systematically reviewing and adjusting our Product Lifecycle Management KPIs, we can ensure that your organization's decision-making is always supported by the most relevant and actionable data, keeping the organization agile and aligned with its evolving strategic objectives.

KPI Library

$99/year

Navigate your organization to excellence with 15,468 KPIs at your fingertips.

Subscribe to the KPI Library

CORE BENEFITS

31 KPIs under Product Lifecycle Management
15,468 total KPIs (and growing)
328 total KPI groups

75 industry-specific KPI groups
12 attributes per KPI
Full access (no viewing limits or restrictions)

FlevyPro and Stream subscribers also receive access to the KPI Library. You can login to Flevy here.

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