New Product Development Process Workflow Template

OpsDog Financial Product Development Workflow - Preview Image

Overview: New Product Development Workflow Template

This workflow template illustrates the development and testing of new products, including concept development, market analysis, initial stage gate approval, prototype development and prototype testing/adjustment. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand the New Product Development process.

Download a Free Sample of this Workflow Template


Process Details and FAQ: New Product Development

What is New Product Development?

New Product Development involves coordination between research and development (R&D) teams, product managers, engineering/design staff and line of business executives to conceive, develop and test a new product. After the initial concept has been agreed upon, researched and documented, it is presented to management who will make a decision as to whether the product should move into the next stage of development - prototyping. During the prototyping stage, a model of the product is created by the engineering and design team and tested to ensure its safety, viability, usability, etc. After adjustments have been made to the prototype, another round of approvals is required. If the final prototype is approved, large-scale production planning begins.


Which KPIs, or metrics, are typically used to measure this process?

The following metrics may be used to measure the New Product Development process:



Which employees and/or departments are involved in this process?

The following parties are typically involved in New Product Development:


  • Product Development Staff
  • Research & Development Staff
  • Product Managers
  • Engineering & Design Staff
  • Market Research & Analysis Staff
  • Line of Business (LoB) Executives

What is the purpose of these workflow templates?

Broken business processes pervade companies, large and small. Manual workarounds, downtime, errors and other waste is thought of as "the cost of doing business." Use our workflow templates as a starting point to document your own processes. Customize them to fit your business and add "call outs" for improvement opportunities.


How are these workflow templates created?

These workflow templates are the product of over 20 years of hands-on management consulting experience, as well as research performed by the OpsDog team. All of our workflows are mapped using the BPMN 2.0 specification.


How do I download a workflow template?

Simply click the "add to cart" button and follow the process to purchase and download this workflow template. You can use any major credit card, or a PayPal account, to pay. After you have completed the purchase, you will receive a link to immediately download the workflow template in PDF and Visio (VSD) formats. If you aren't a registered OpsDog user yet, create a free account! New users get $20 off of their first purchase.


Questions?Call: 844-650-2888Email: info@opsdog.com
  • Workflow Template

    $15

    New Product Development

    - Instantly download files
    - Includes PDF, VSD file formats
    - Customize the Visio (VSD) version
    - Workflows mapped in BPMN 2.0

    Questions?

    Call: 844-650-2888

    Email: info@opsdog.com

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