2.8 SUMMARY

It is clear that successful product development first requires the decisions, outcomes and activities to be developed into a logical flow plan of activities and critical control points. This can lead to predicted timings and resources so that a monthly plan can be developed which can be used to control the quality, time and costs of the project. There is also a need for management commitment, development of a suitable management and communication structure, and recruitment of creative, skilled and knowledgeable personnel.

An integrated, managed approach to product development, relating product development, marketing, finance and production, will provide a better chance of achieving overall goals and commercial or socio-economic targets.

Product development success and project management are inextricably linked; they must be properly balanced for a successful venture.