Hello jp582, I agree with the stages that you mentioned. I think it is key that are done the way they are supposed to be. However I think that these steps can compressed to planning, executing and sometimes presenting. The first step in planning would be targeting a market/customer. I have seen some amazing products developed which have not generated as much profit because they were in the wrong market. Whenever you plan a project you need to be as detailed as possible. Creating a very specific plan would make the execution phase easier. In my first project, I was not as specific in the planning phase and that brought a lot of complications during the execution phase. Lastly, as our classmate Myton mentioned in his post, some products require a presentation. Let’s say you want to sell a product do an investment company, if you don’t have a solid presentation, you could have the best product ever but you will not get the funds needed.

Sincerely,
Roberto Pineda.