Editing Product lifecycle (section)

===Phase 1: Conceive===
====Imagine, specify, plan, innovate====
The first stage is the definition of the product requirements based on customer, company, market, and regulatory bodies' viewpoints. From this specification, the product's major technical parameters can be defined. In parallel, the initial concept design work is performed, defining the aesthetics of the product together with its main functional aspects. Many different media are used for these processes, from pencil and paper to clay models to 3D CAID [[computer-aided industrial design]] software.

In some concepts, the investment of resources into research or analysis of options may be included in the conception phase – e.g., bringing the technology to a level of maturity sufficient to move to the next phase. However, life-cycle engineering is iterative. It is always possible that something does not work well in any phase enough to back up into a prior phase – perhaps back to conception or research. There are many examples to draw from.

The [[new product development]] process phase collects and evaluates market and technical risks by measuring the KPI and scoring model.