Product project is a kind of collective decision-making, it through the product definition, feasibility study, project evaluation, project decision-making process, to ensure that the allocation of resources to the enterprise technology innovation project of the most valuable up, avoid blind decision, random decision of entrepreneurs and the waste of resources.

　　A detailed description of the product function and design parameters of product definition is in customer language. A valid product definition can be communicated clearly in five aspects of the information to customers: between product function index of product function, consistency, the relevance of the product, product differentiation and competition, product features and customer demand "selling points". Product definition clearly, should also be product concept testing, to ensure that the needs of entrepreneurial products meet the target market. The product concept testing, is entrepreneurs show a concept or a few can replace the product concept to the target customers, according to customer feedback to verify the acceptability of the process. Entrepreneurs need to adjust the technology planning according to the concept of test results, improve the product definition.

　　On the basis of product definition, enterprises should also be detailed investigation and research, the product development technology, market, financial and other aspects of the demonstration and analysis of the forecast, provide the basis for project decision. Entrepreneurs should be based on the evaluation of the feasibility study report of the project results, combined with the actual situation of enterprises on product development, development, the scale of investment when the choice, at the same time, commitment to product development project funding, technology, market prospect, economic benefit, risk. Product project is not a one-time effort, changes in the external environment, with the project analysis report, should also adjust and update.

　　If the enterprise has several product lines or a type of product line production of a variety of products, in product selection should also consider the product portfolio, to ensure that all products to maintain market balance in the overall strategy of the enterprise, technology, resource balance balance and balance of risks, realize the enterprise long-term value maximization.

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