The mission of this course is to give the student a thorough understanding of the processes that go into the development of a new product. The question of what it takes to turn an idea into a product is asked and detailed project management tools are examined as they relate to new product development (NPD). As case study, the Fast Moving Consumer Goods (FMCG) industry is examined. The intent of the course is to give the student a good understanding of the topics by providing real life examples and to always question and provide the logic behind decisions in real life scenarios. In comparison to established industries, new ways of NPD are also examined. With manufacturing and prototyping methods more easily accessible to individuals and small startups, emerging trends in NPD are discussed with examples of open collaboration, cross-discipline partnerships, new habits of working, creation, and obtaining funding which lead to innovative new products.

The students are expected to work on a new product idea of their own choice in groups of ideally three people. Every week, there will be time during the class to apply the theory of new product development and project management to their ideas. Outside of class, they will research their market, talk to experts, strategize on how to bring their idea to life, and ideally spend some time on the field. The outcome will be presented by each group during the midterm. Between midterm and finals, they will learn about some of the fundamental tools of entrepreneurship. They will apply these tools to their new product ideas and present the outcome during their final presentation.
It is the wish of the lecturer to give the student a healthy mix of theory, real life examples and success stories, a glimpse into emerging trends in the world and hopefully inspiration for career choice.