Business Plans - The First Step in the PLCM Process

A simply highly focused business plan with a defensible pro forma ROI assessment is the first step in a successful PLCM process for companies of any size and any product arena. Understanding the best-case, worst-case and most-likely ROI for a new product or solution is the bona fide litmus test. Preliminary business cases do not need to be complex or highly detailed, they do need to be well thought out, candid and defensible. Far too often well-motivated engineers, product managers or sales staff bring new product ideas to senior management before giving the "concept" a forthright and open assessment.

Best practice: Under estimate revenue and over-estimate costs.

See the Solution Matrix article for further insights