The product development process: three misconceptions which can derail even the “best‐laid” plans

An enormous volume of literature has evolved which promises remedies for any organization′s new product development woes. Unfortunately, new product development is an inherently uncertain and complex process which is generally not amenable to standardized solutions. Based on extensive consulting experience, addresses three commonly held misconceptions regarding the new product development process. Provides examples to illustrate each of the misconceptions and presents the lesson to be learned from each. Finally, discusses recommendations for management.