Towards a new view on industrial product development

Abstract

Industrial product development is a rather risky investment because of the high frequency of failure. Still, it is generally discussed in terms of normative process models in which one phase follows another in an orderly fashion.

However, elements of doubt can be cast on the models. Assuming that the objective of product development is to increase the competitiveness of the company involved, the number of variables to take into account in such a model are enormous. Analysing product development at a lower level is therefore proposed. It is suggested that such an analysis is useful for reducing business risks as well as focusing management on relevant issues. It is also believed that it will contribute to a better holistic understanding of product development.