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APRIL 2021 I PCB007 MAGAZINE 51 e phase review process consists of seven phases (0–6). Each phase represents one as- pect of the system development effort and is well defined, including the following: • Explicit exit objective that must be met before the product can be advanced to the next phase. • A detailed set of activities and deliverables which, when completed, will fulfill the phase exit objectives. • Identification of management commit- ments to the product in terms of continued funding and other resources. Phase 0: Concept and Integrated Planning e product requirements plan is a descrip- tion of the features, forms, and functions of a product and is usually accompanied by a set of requirements, analysis of competitive prod- ucts, and economic justification of the project. Assemble requirement planning: e prod- uct team convenes with representatives from each of the functional areas that will participate in the product development. e product team works closely with its marketing represen- tative to develop product- specific requirements. Review of customer re- quirements: is will be in- terlaced with the marketing functions that will establish whether the market exists, collect customer needs, and identify lead users. Working with R&D, the project team develops a product-specific set of requirements. e product team devel- ops the following: • A clear definition of the target market segment and market requirements • An understanding of competitors' activities and their potential effect on the proposed product • Assesses leverage opportunities that will enhance the development effort • Identifies preliminary resources and investment needs • Determines potential development interdependencies • Defines a phase 1 study plan and a product requirement document (PRD) Phase 1: Study and Define Objectives e functional areas respond to the PRD with a proposed product definition that satis- fies customer/user needs and time-to-market constraints. e product team will develop ini- tial product functional specifications including resources, schedules, testing strategies, and external dependencies. Product design specification: e devel- opment team will identify and benchmark competitive products and provide functional Figure 3: The phase review process and the product development process follow the well-known S-shaped curve of development. (Source: HP Product Guide)