SPECIFICATION
The start of every new project consists of ensuring everybody involved has a complete understanding of the final requirements and the market demands. So the first step is to develop a robust, widely accepted design specification. This can be straightforward, but sometimes requires tradeoffs in terms of function, dimension or, often, cost..
In order to ensure the final feasibility, concrete proposals for the technical implementation must already be available when creating the concept. With the intention to ensure that the best solution defines the product, competing approaches may be agreed up to a leading prototype status.
The final aspect must be producibility. A great product that meets the requirements in terms of function, dimensions and price, but is extremely complicated to manufacture, is beyond every financial scope.