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This note introduces key managerial issues in new product development. It describes the product development funnel and alternative approaches to structuring product development teams including functional, lightweight, heavyweight, and autonomous/dedicated teams, which vary in their capacity to manage integration. More formal product development approaches including the stage-gate process and critical-path method are described, as are agile methods and principles-and related tools such as scrum, extreme programming, feature-driven development. Product development metrics including lead time, capacity, and productivity are defined and discussed.
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