The stage-gate development process is a universal approach that can be applied to any industry involved in product development. It provides a structured method for moving a new product from its initial concept to its final production. The process involves a series of stages where each stage consists of a set of prescribed activities that help in the development of the product. The 'gates' serve as decision points where the progress of the project is evaluated and a decision is made whether to move to the next stage or not. This method allows for risks to be assessed and managed effectively, ensuring that only viable products make it to the market. It's important to note that while the process is universal, the specifics of each stage and gate may vary depending on the industry and the product being developed.
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