Modelling the NPD process: the value of a product development process model approach, as a means for business survival in the 21st century

Success in new product development (NPD) can be considered a general aim for any company wishing to survive in the twenty-first century. It has been found that positive effects can result from the existence of formal ‘blueprints’ and ‘roadmaps’ of the NPD process. This paper discusses numerous NPD processes which can assist a company to capture what it does, and follow a structured development route, from which it is possible to gain a better understanding of how to improve the development process, and thus reap the potential and tangible benefits. This paper’s focus is at organisations that are considering implementing a new product development (NPD) process in order to improve repeatability and ultimately sustainability of their innovative capabilities, a necessary and vital component for survival. It aims to bring an understanding of the underlying characteristics that may contribute to a potential and successful outcome during the development process within organisations, through the adoption of a structured NPD process.