New Product Development
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.
Related KPIs : Cycle Time: Time to Market, Market Potential, New Product Kill Rate, New Product Profits as a Percentage of Total Profits, Percentage of New Products Launched on Schedule, Percentage of New Products On Budget
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.
Download a Sample New Product Development
Frequently Asked Questions
Q: How do you create your Workflow Templates?
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.
Q: What can a Workflow Template do for me?
A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!
Q: What’s in the box when I buy one?
A: Three handy versions, all in one zipped file. It’s yours to download immediately upon purchase, and includes your chosen Workflow Template in PDF format, plus Microsoft PowerPoint (which you can edit), and Visio (which you can also edit).
Q: Your download-able templates look great. But I need something custom. Can you help?
A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us (email@example.com) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
Regulatory Product Approval
This workflow template illustrates the end-to-end process of regulatory approval for new products, including compliance-related requirements gathering, internal testing (against requirements...
Type : Workflow Template
Process Participants : Product Development Staff, Product Testing Staff, Compliance Staff, Regulatory Agencies