This finding from APQC’s Best Practice Report New Product Development: Embracing an Adaptable Process examines how best-practice organizations identify a clear process owner for NPD to provide consistency, ...

Every new product involves some degree of risk, but some require larger leaps of faith than others.

Structured processes are essential to ensure that the most valuable products flow smoothly from ideation to market.

Although every product may be different, standardizing the new product development process (and the tools used within it) streamlines the movement of products from ideation to market.

When it comes to new product development, organizations need to make it clear who the decision makers are. It is vital that accountability is clearly defined at each level.

One of the best practices is to identify a clear process owner for NPD. The uncertainty of the success of new products should be the result of the products themselves, not the process used to develop them.

One of the best practices is to ensure the organization appoint a high-level New Product Development (NPD) advocate or champion.

Organizations should implement professional, objective project managers who have the ability to make objective decisions, regardless of personal, emotional, or technical attachment to the project.

An effective new product (NPD) process is a basic requirement to compete in today’s market. But how do global organizations adapt and modernize their NPD stage gates with rigor and still remain fast and nimble?