What Is The Life Cycle of Product Engineering?

6 Phases

Technology disruption is the norm today. As a result, Technology Product Companies must have well-defined mechanisms in place to proactively respond to continuously evolving product lifecycle elements.

These include things like shorter product development time and product version shelf life. And while doing so, they must also ensure product quality and balance cost implications.

To thrive in this demanding and ever-changing environment, these companies need innovative product engineering solutions and services that span the entire product lifecycle.

Additionally, to stay on top, these services must offer best-in-class user experience (UX) and leverage the conveniences that new technology provides.

What Is Product Engineering?

Product engineering handles all aspects of a product’s journey – from the initial innovation or strategy phase to the design, development, user acceptance testing, and maintenance and support.

The emergence of new technologies and software delivery models has led to the evolution of Product Engineering Services that move beyond traditional software engineering – Services that cater to the unique techno-business landscape so products can excel.

According to a MarketsandMarkets study, the increasing demand to accelerate a product’s time-to-market (TTM) is expected to drive the product engineering services market to 1,003.12 billion USD by 2021.

This is quite telling in terms of what product companies must plan for.

To compete in today’s market, many product companies now leverage the support of a Strategic Technology Partner with Product Engineering Services.

This helps to:

  • Cut expenses,
  • Minimize resources, and
  • Deliver the product on time as scheduled.

The right Strategic Technology Partner can help them engineer a product based on their vision, and subsequently launch new product features to market with the speed, quality, and innovation required to remain competitive.

The 6 Phases of Product Engineering

Let’s take a look at the different phases of the product engineering life cycle.

1. Strategy or Innovation

This is the initial stage where an idea is conceived, and the process of strategizing about how to transform it into a successful working product begins.

The idea is analyzed by subject matter experts and market researchers to determine whether it’s worth pursuing and what the risks involved could be.

In many instances, it’s best to leverage professional Product Innovation Services for this.

Product Innovation Services help with:

  • Product Ideation
  • Research
  • Conceptualization
  • Strategy

2. Requirement Analysis and Product Design

After the idea has been validated and decided upon, the next phase is to design the product in terms of its technical and functional architecture and user interface.

A vital part of this is to analyze the product’s requirements and run exercises to identify priority features or “must-have” versus “nice-to-have” features and weigh them from a value and productivity standpoint.

Product Managers, Designers, and Technical Architects play a key role in the design stages of a product’s evolution.

Product Design Services typically include:

  • Functional Design
  • User Interface and User Experience Design
  • Technical Architecture
  • Use Case Definition
  • A Roadmap

3. Product Development

The next phase pertains to developing the product. This requires core development skillsets and technical, managerial skills.

The development team looks to the Product Managers/Owners, Designers, and Architects to guide them in terms of what needs to be built out.

To overcome continuous disruptions in the fiercely competitive product engineering landscape, these companies must have ongoing software product development capabilities.

Development teams must employ proven methodologies and processes to ensure quality, as well as the timely delivery of the product.

Product companies can choose to hire a vendor who can help with Product Development Services in various ways, some of which include:

  • End-to-End Software Product Development
  • Extended Offshore Development Center
  • Augmentation of a local team with IT Staffing Services

4. Product Testing / Quality Assurance (QA)

Quality Assurance activities are essential to create a great product and make it product-ready. In this phase, the product goes through stringent quality checks to validate that the developed product meets the design specs, and has a high usability and UX quotient.

Product Testing & QA Services work similarly to the internal testing units of product organizations. They are worth exploring when there’s an increased need for QA activity and resources.

Some QA Services that are typically offered by professional QA organizations include:

  • End-to-End Testing
  • Test Automation
  • Performance Testing

5. Product Deployment Phase

Once the product is developed, it’s released into the market and monitored for user feedback and evolving market trends. Refinements or enhancements are then made to the product, and delivered to the market in subsequent releases.

Product companies should focus on continuous integration and delivery practices so that development teams can deliver code changes frequently and reliably. This contributes to the product having a favorable position in the market.

Depending on the type of product being offered, this phase could also involve product implementation for a client or customer onboarding services. Customization or extensions are then made to the product if required and applicable.

Some of the services that are offered to help Product Companies or ISVs (Independent Software Vendors) with this phase include:

  • ISV Product Implementation
  • Integration Solution Implementation
  • Training Services

6. Product Support & Maintenance

Products that go to market must have support and maintenance services in place. This is required to address ongoing issues found in the product itself or with its implementation.

Support and maintenance could also include addressing customer queries and helping them troubleshoot services during their usage of the product.

Support and Maintenance Services to ISVs are typically provided in the form of:

  • Product Support
  • Post-Implementation Support

In Conclusion

In today’s dynamic techno-business environment, Product Companies or ISVs must be future-ready and leverage the services of Product Engineering vendors to maximize the potential of their product and outperform competitors.

Boston Technology Corporation offers high-value, future-ready, end-to-end Product Engineering Services, and flexible engagement models to meet your product needs. Contact Us to learn how your organization can benefit from them.