1997) The above quote from Victor Paaashuies clearly outlines the significance of product development in the manufacturing industry.It outlines their core competence and processes. Various research carried out over several years have shown us that the way in which implementation of product development is carried out has a significant impact on costs and time to market and hence also on the financial results. Nevins (1989) for example,found that in the early stage of product development almost 80% of