As Product Development focuses more on innovation and the creation of new products, there are difference core principles, placed with differing priority to that of standard Lean Production. Below are these key principles, broken down into stages.

First Principle: Define Value to the Customer

1. Voice of the Customer 
2. Quality Function Deployment 
3. Lean Design 
4. Platforms and Design Re-Use 
5. Rapidly Explore Alternatives

Second Principle: Identify the Value Stream and Reduce Waste

6. Streamline the Development Process
7. 5S Workplace
8. Standardized Work 
9. Integration of Design Tools

Third Principle: Make the Value Creating Steps Flow

• Pipeline Management
• Flow Process and Pull Scheduling
• Reduce Batch Sizes
• Synchronize Activities
• Defer Commitment

Fourth Principle: Empower the Team

• Cross-Functional Team
• Workforce Empowerment
• Right Resources

Fifth Principle: Learn and Improve

• Amplify Learning

Ultimately, the successful implementation of Product Development should increase innovation within an organization tenfold, as well as facilitating the introduction of new products – potentially even at a 400-500% increase.