Managing product development process for time market

Abstract

In a business environment with intense competition, technology businesses launch new products to market rapidly. Marketing strategies and technological factors, which are driven by business environments, continue to shorten product development from years to months. Product development must be executed with speed, thus managing for Timeto- Market is therefore very important for the competitive success of such companies in the marketplace. This research aims to establish an effective and efficient product development process based on a ‘Gateway Review’ framework to ensure best practices and compliance of each phase of a new product development, providing the Project Manager and team members with a systematic way to execute their product development projects for rapid Time-to-Market focus.