What Is the Final Step in the Product Development Process

question 37

Multiple Choice

What is the final step in the product development process?

• A) project customer needs
• B) manufacture, delivery, and use
• C) final product definition
• D) product evaluation
• E) manufacturing system design

---

Definitions:

APR

The Annual Percentage Rate, which is the interest rate for a whole year on a loan, including fees.

Present Value Payback Period

A capital budgeting technique that calculates the period of time required for the present value of future cash flows to cover the initial investment cost.

NPV

Net Present Value, a calculation used to determine the current value of a series of future cash flows.

PI

The profitability index (PI), in financial management, is a method used to evaluate the desirability of an investment or project, calculating the ratio of the present value of future cash flows to the initial investment.