CHAPTER 35New Product Development: Issues for Project Management

DENNIS M. SMITH, CEO, DENSMITH, LLC

Product development is a specialized case of the project methods described in the PMBOK® Guide. By adding product-specific focus, the product development leader can increase the probability of success over what otherwise would be attained by implementing a process that might be applicable to other types of projects, such as IT, construction, or public works.

Focus areas include understanding and factoring customers’ requirements, ensuring distribution channels, cost and price goals, and building competitive differentiators.

If one of these were to be singled out as the most important, it is clear that the majority of product development projects ...

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