A Model for Value in Lean Product Development

Lean product development has been developed and deployed in an effort to enhance company operations. Understanding value is the first step to becoming ‘Lean’. However, the mere translation of value from its conventional interpretation in lean production as ``something the customer will pay for`` does not equate to an effective value orientation in product development (PD). In order to better understand the theoretical context of PD value in research, as well as the potential application of a value orientation in practice, further study is necessary. This paper aims to broaden the understanding of PD value by discussing by linking roles in value creation and delivery to different contexts and phases of the product life cycle.