Business Article: Creating Project to Focus Development

Business Article Review
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The concept of the product development plan is summarized in the article Creating Project to Focus Development by Wheelwright & Clark (1992). It explains that businesses may easily organize and oversee groups of strategic development initiatives when they establish an overall project plan. Product development capabilities determine how competitively successful manufacturing organizations are. A firm's financial performance and market position can be expected to improve with the development of new products, which may lead to the establishment of new market standards. However, the authors also note that a company's product development process is likely to fail if it lacks an aggregate project plan strategy. For example, the PreQuip company, as stated in the article, struggled to develop the correct new goods, test out novel technologies, and target new markets due to a rash of untimely product development projects.
In reality, developing a sustainable development strategy requires going through an aggregate project plan proce...