Definition
The total potential for profit of a product over it’s entire duration (aka the ‘Life Cycle’) is known as Lifecycle Profits. In case there is a portfolio involved, then the Life Cycle of the entire portfolio is considered.
Further Reading.
Definition
A ‘Timebox’ is a fixed and previously agreed upon period of time, during which a person/team assigned to specific task, works towards the completion of a goal. Once a time limit is reached, work is stopped and what was accomplished is evaluated. They can be used at varying time scales that can range from one day, to several months.
The critical rule of timeboxed work, involves evaluation after the end of the timebox: ‘Was the goal met? If not, was it partially met?’ etc.
Further Reading
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