The tenth step in the product lifecycle is Iterate. Making ongoing refinements to the product post-launch is one of the key aspects of managing a product.  Unlike a project, a Product Manager doesn’t walk away and move on to something different. When the product launches, the work is just beginning. Determining what features to improve or new ones to develop is driven by user feedback and performance metrics. The product is developed in a way that allows the Product Manager to know which features are being used and how well users complete the desired use-cases and scenarios. In addition, the Product Manager will also monitor and track how well the product is meeting overall business objectives.

All of these inform backlog and roadmap prioritization exercises and help to keep the product evolving to meet the changing needs of users.