Share
Explore BrainMass

Stage-Gate Process & Project Charter Book

- Explain/discuss the value of the stage-gate process of new product development

- What is a project charter and a contract book? Explain/discuss their purpose and how they are related to each other?

Solution Preview

- Explain/discuss the value of the stage-gate process of new product development

The stage-gate process of new product development is a popular system used by many companies currently developing new products. The stage-gate process is a simple concept. Essentially, the product development occurs in stages and restricts investment in the next stage until management is comfortable with the results of the current stage (Europa.com, 2012). It is estimated that at least half of all companies that participate in product development use the stage-gate process. Companies favor the stage-gate process of new product development because of the control it establishes over the quality of a product and the costs associated with new product development.

Critics of the stage-gate complain that the system slows product development and that it takes away from the ingenuity of maverick product developers. Companies that tout the value of the ...

Solution Summary

This solution covers the stage-gate process and discusses its benefits and details. It also explains a charter and a project book in project management.

$2.19