product lifecycle management or project lifecycle management, the former is most common.

"One way to improve the management of a product's lifecycle would be to study the lifecycle's of previous, similar products, whether by that company or a competitor. If problems can be found that shortened the lifecycle of the previous product, changes can be made to the new product to overcome these problems."

Product lifecycle management is the management of a product from idea, design, development through to use and disposal. For example you have an idea for a new razor blade, PLM is about how you design it, make it, use it, and then what to do with it when its no longer usable.

"Product lifecycle management is basically you managed all the steps of a product, through design, manufacture, service and disposal. It gives you an idea on how products can be successful."

product lifecycle of onida tv