Below are some standard product development process models:
The Scorecard-Markov model - This is a mathematical methodology designed as a scorecard for new product ideas. Metrics include customer needs, marketing strength, and the company's competency.
The IDEO Process - This product design process is a human-centred model, with developers designing the product from the user's perspective.
The Stage-Gate model - This project management model divides the process of developing products into a funnel system.