PLMIG announces the 8-Stage methodology for PLM Financial Management

Oxford, England. Jun 03, 2014 -- After publishing the PLM Financial Handbook [Lite] for project justification (see MCADCafe May 12), the PLMIG is now formalising the complete methodology for Basic and Advanced PLM Financial Management.
Basic Financial Management enables the PLM Team, with the support of the company's accountants, to establish performance metrics that can be measured and reported as PLM projects are implemented.  Advanced Financial Management integrates PLM metrics into the company's accounting structure, so that results can be seen automatically from operational to Board level.
Most user companies will begin with Basic Financial Management, and the methodology for this has 8 Stages:-
  • Positioning
  • Direction
  • Scope Check
  • Validation
  • Deconstruction
  • Calculation & Metrics
  • Roadmapping & Planning
  • Monitoring & Reporting
It might be assumed that 'Calculation & Metrics' is the most complex of these, but in fact 'Deconstruction' is the most important. The ability to break down what are often vague claims for the benefits of PLM is what enables the metrics calculation to take place.
The whole structured methodology will be reviewed at a new Workshop in Geneva on July 01-03. This will give participants a chance to see how the new material works and to input their own requirements for the finished toolset.
More information is available on the PLMIG web site, or via Email Contact.
The PLM Interest Group
The PLM Interest Group is the leading neutral industry group for PLM. It has developed the first ever PLM Governance Standard, together with a new generation of applied PLM material including the PLM Best Practice Library and the Path to PLM. Previously PLMIG workshop series have produced the PLM Benchmarking Handbook; the PLM Maturity Reference Manual; and the PLMuERP Handbook.
For more information, please contact:
Roger Tempest

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