1. What is Stage gate Process
Stage gate process is a R&D process which is about managing successful development of new product. It covers whole process from discovering idea to launching new product.
2. What is stage? What stages are included in the product development process?
The Stages are the process which important action occurs. In each stage, the project team that established for launching new product go through key activities to gather information needed to improve the project to the next stage and gate. Also in each stage, the activities for developing new product take place simultaneously. Many parts of the project team, for example, marketing, design, finance, R&D works at the same time to work more efficiently. The Stage consists of Scoping, Build Business Case, Development, Testing and Validation and Launch.
3. What is Gate? What Gates are included in the product development process?
The Gate is a point where decisions are made after each stages. After each stage, the new product developing project goes in to the Gate. In the gate, the project is estimated in terms of current stage’s suitability, alter of priority of work in the process, distribution of resources by the team. After the evaluation, the decision to the next stage is made.
4. What are the benefits of using the Stage-Gate process for a firm?
If implemented properly, Stage-Gate process can bring amazing effects. It accelerates speed to market, increases the product success rate, introduces discipline into an ordinary complex process, reduces re-work and other forms of errors, improves focus through gates where inappropriate sources are deceased, achieves efficient and effective allocation of scarce resources. To say in one word, Stage-Gate process can bring the firm more effective, efficient, faster process that firm’s new product development can success in the market.
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