How Product Lifecycle Management (PLM) Creates Value

Aerospace and Defense (A&D) companies are increasingly focusing on New Product Development (NPD) as a way to create value. This study examines common methods for enhancing value within the context of Product Lifecycle Management (PLM) in the A&D industry. The study provides examples of widely used value enhancement techniques related to PLM. It suggests that organizations can achieve sustainable value creation by fostering collaboration among project stakeholders. This collaborative approach, implemented through NPD strategies, aims to deliver value by consistently achieving project objectives. The study emphasizes the importance of a robust and sustainable PLM design across collaborative project networks, such as supply chains, as a crucial factor in mitigating the risk of suboptimal value creation. Furthermore, the article highlights a positive correlation between value creation in the A&D industry and the effective implementation of PLM practices in project risk management.