Product portfolio management ‐ Targets and key performance indicators for product portfolio renewal over life cycle

The main purpose of this study is to widen the scope of product portfolio management (PPM) targets and key performance indicators (KPIs) to cover all phases of the product life cycle. Earlier research mainly covers PPM performance management within new product development (NPD) life cycle only. In addition, current challenges relating to PPM performance management over product life cycle are studied. The research method includes current state analysis based on both a thorough literature review and analysing ten case companies that represent hardware (HW), software (SW), services and solutions type businesses. The contribution is discussed and validated by a focus group consisting of all the case companies before making final conclusions. The principal results of this study include the potential framework for managing product portfolio renewal over the entire product life cycle based on strategic, tactical and operational performance measures. The PPM performance management, its business impact and connection to business processes and performance management dashboard are discussed. The role of PPM as a means of executive level dynamic performance management and decision making sets further questions for researchers' for systematic product portfolio definitions, governance models, processes and tools over product life cycle.