Consider setting up a matrix like the one above that includes the products and answers to the questions above, along with scoring that will help drive the ranking. Using the example above, product A has the highest business criticality and, therefore, should have the highest level of CM rigor applied to it.
Now that the life expectancy of the products has been identified, the business criticality has been determined and products have been ranked, a cost effective investment approach into applying CM can be discussed. Also, the rigor of the CM infrastructure should be directly proportional to the life of the product and the business criticality of the product to the organization. Few people will question the importance of CM. Given the competition for resources, though, it is important to establish a CM investment strategy based on the life of the application and business criticality.