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You may choose to undertake product development projects to develop designs for new products or modifications for existing ones. These projects take one year to complete (with varying levels of success).
When creating a new product development project you must specify:
Product Development Project Budget/Investment/Expenditure
The amount you invest in the product development project includes expenditure on design, production mock ups, investigation of material availability and necessary modifications to production plant necessary to produce a product based on that design. It needs to be enough to cover both the amount required to change the product's physical attributes and also the amount required to achieve any prime cost reduction.
For benchmark required attribute levels , See:
Reports ---> Scenario Information ---> Product Development Information ---> Indicative Values for Market Segments
in the reports menu in the single or multi-player.
Note:
1. Don't forget to consider factory capacity requirements for new products, since it also has a one year lead-time!
2. At the end of the year the product development team will report back on the success of the project (see the Product Development report). Check this report before using the new product design!