Product Development Cycle

The Product Development Cycle (PDC) consists of 4-5 integrated product phases. Prior to the start of a phase, the necessary actions and deliverables are to be documented in detail, timelines are set and milestones determined. The PDC is divided into several phases, to be closed off by a review meeting including a go/no-go decision. The goal of each phase review is to establish the relevant information necessary to make the decision to proceed or not to proceed to the next phase of the development cycle. The compilation of the phases leads to a successful product development program that optimizes a product’s time to market, cost, performance, quality, customer satisfaction, and risk management.

These phases are:

the concept phase
the commitment phase
the development phase
the transfer phase
the market surveillance phase

Depending on the amount of time and information available, the concept and commitment phases are sometimes merged into one phase.