Stage-Gate® - Your Roadmap for New Product Development

Stage 0 -Discovery: Activities designed to discover opportunities and to generate new product ideas.
Stage 1 -Scoping: A quick and inexpensive assessment of the technical merits of the project and its market prospects.
Stage 2 -Build Business Case: This is the critical homework stage - the one that makes or breaks the project. Technical, marketing and business feasibility are accessed resulting in a business case which has three main components: product and project definition; project justification; and project plan.
Stage 3 -Development: Plans are translated into concrete deliverables. The actual design and development of the new product occurs, the manufacturing or operations plan is mapped out, the marketing launch and operating plans are developed, and the test plans for the next stage are defined.
Stage 4 -Testing and Validation: The purpose of this stage is to provide validation of the entire project: the product itself, the production/manufacturing process, customer acceptance, and the economics of the project.
Stage 5 -Launch: Full commercialization of the product - the beginning of full production and commercial launch.

Source -http://www.prod-dev.com/stage-gate.php 

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