The paper shows specifics of product development process, its unique character and changing conditions influencing its realisation. It also points most important risks, that might significantly influence efficiency of product development process. In the paper, author suggested three strategies (Postponement, Mass Customization and Collective Customer Commitment) that allow to reduce risks in the product development process and consequently may increase products’ success chance and efficiency of product development process itself. The paper emphasises also the meaning of appropriate risk management in reducing consequences and chances of occurring risks during product development process. Special attention was given to engaging the client into the process of creating products’ value, so that both his and producers’ expectations can be met much more effectively.
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