Influence of technology on product development process

Summary form only given. It is a commonly accepted notion that a product development process (PDP) depends upon at least three key basic elements: organizational design; people and prevailing culture; and technology. Each element influences the PDP differently and to varying degrees, based upon the element´s characteristics and associated time constant (i.e., the time it requires to take root and begin exerting influence in a significant manner). This paper mainly examines ways in which technology influences the PDP. Within that context, it then considers how the pace of technology evolution (slow, medium and fast) potentially impacts the product development process. It then addresses the issues related to investments required for the deployment of technology for process improvement. Finally, it examines the bounds or limits of technological influence on the PDP in terms of cost reduction and lead time.