Product Development Case Study

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The product development process is divided in many stages:- A. Introduction Stage: The enclosed forms and instructions will serve as a guide to obtain approval to pursue new product ideas, product enhancements, or modifications. The process has three approval stages:  Concept Development (new products or modifications)  Product Development  Transition to program launch development B. Concept development Stage The Concept Development stage is intended to include a high-level overview of a new product idea or modification, determine its potential benefits and the feasibility of further development. Concept Development and approval are the first steps towards moving a product to development. An idea for a new product or a product modification is researched at a very high level so a determination can be made if the project is feasible. ICFAI Business School- Hyderabad SIP- Ford Business Service Center | Interim Report 8 C. Product development Stage The approved Concept Development document is further defined in the Product Development stage. A fully developed business case can now be reviewed. The Product Manager has gained Concept Approval and can now commence the completion of the PD process. Final approval of the Product Proposal is made by those with approval authority for the cost level involved. D. Launch Stage The launch stage is a very important stage for any company. Setting up the right time at the right place is very important. So this is also an important phase in the product development. In the product development stage there are various steps: 1. After the concept development takes place, it goes to the Chief Plate Engineer for the design approval. Here at the stage the engineer community gives its recommendations and... ... middle of paper ... ...mary is the detailed document which contains all the information about the Concern such as the engineer, the chunk, the region and the cost variation. 3. In FS, we need to capture various information such as, all the other vehicles affected, all the parts affected. 4. We need to carefully capture the cost changes being introduced by the change in design. C. Phase 3 1. Now all the FS’s are taken to the Cost Approval meeting. This meeting is approval for various design and cost changes. 2. After the approval in the Cost Approval meeting, the Concern is processed further for the investment related approvals. 3. The Concern is then taken for the Quality approval (If any). The Concern after the approval is updated in the WERS system. 4. If the Concern has any of the High cost approval, the Concern is then sent for the High cost approval as per the Approval Authority Level
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