THE STAGE-GATE MODEL - A MANAGEMENT TOOL FOR DEVELOPING NEW AND INNOVATIVE PRODUCTS

The development of new technologies in the last decades of the 20th Century and in first years of the 21st Century has created the need for new products that are reliable, profitable and of top quality. The rapid growth of global economy has forced managers to design new management tools in order to ensure the fast development of innovative products. This paper presents such a management tool: the stage-gate model. We will present this new concept and the main gates of the process: scoping, building the business case, the development, the testing and the validation, as well as the launching process of a new product. The paper will point out how this tool works the benefits of using the stage gate model, the steps for implementing it in an effective manner and its implications for the managers and for their companies.