Developing the product development strategy

The first stage in designing the product development strategy is to produce more detailed descriptions of the products, and determine how their development can be organised within the specified resources and any other constraints that may have been identified in the final innovation strategy by top management. The individual projects are identified and their aims, outcomes and constraints. These are developed from the innovation strategy by the product development team and will need to get final agreement from management. The team will have to confirm that the projects are in agreement with the total innovation management programme. It is important that the team predicts the probabilities for success and failure as more knowledge is developed about the project.

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