ADMS 4245 Lecture Notes - Market Risk, Quality Assurance, Tiger Team
25 Mar 2013
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Document Summary
A generic development process: first, a process is a sequence of steps that transforms a set of inputs into a set of outputs such as the process of baking a cake. On the other hand, a product development process is the sequence of steps or activities which an enterprise employs to conceive, design, and commercialize a product. Many of these steps and activities are intellectual and organizational rather than physical. Every organization has its own process and it varies depending on the organization. Some organizations define and follow a precise and detailed development process, while other may not even be able to describe their process. It helps the members be aware of the contribution needed: planning: a development process contains natural milestones corresponding to the completion of each phase. The timing of these milestones anchors the schedule of the overall development project: management: a development process is a benchmark for assessing the performance of an ongoing development effort.
