We have prepared an easy to use guide to help visitors from all walks of life understand industry-specific terms you might read on this website. Please let us know if you have further questions on any of these terms.
Abbreviations & Definitions
New Product Development (NPD):
The complete process of bringing a new product to market.
New Product Introduction (NPI):
Introducing your new product to the masses.
Engineering Validation Testing (EVT):
A product verification test suite performed on prototypes to verify the design meets desired product specifications and performance.
Design Validation Testing (DVT):
An intensive training program to deliver objective, comprehensive testing verifying all product specifications, interface standards, original equipment manufacturer requirements and diagnostic commands.
Process Validation Testing (PVT):
A testing program to verify mass production yields at mass production speeds and validate and qualify additional tools needed to support quantities for early ramp.
Marketing Requirements Document (MRD):
A document that expresses the customer’s wants and needs for the product or service. Typically written as part of a product marketing plan in project management and systems engineering.
Product Requirements Document (PRD):
Document containing all engineering requirements for a certain product. The purpose of this document is to clarify what a product is intended to do.
Failure Mode Effects Analysis (FMEA):
An analysis identifying all possible failures or flaws in a product design or manufacturing process. This analysis is used to identify failures or flaws BEFORE the product progresses through final go-to market stages.
Design for Excellence (DFX):
The methodology that represents many features of a product including manufacturability, power, variability, cost, yield, and reliability. This methodology addresses issues that occur during the product life cycle.
Design for Cost (DFC):
A branch in DFX. A design method which analyzes and evaluates a product’s life cycle cost then modifies the design to reduce costs.
Product Lifecycle Management (PLM):
Process of managing the entire lifecycle of a product from ideation through engineering design, manufacturing, distribution, and decline.
Returns Management (RMA):
Return Management Authorization. The process of returning a product to receive a refund, replacement, or repair during a product’s warranty period.
Even More Acronyms!
Below, you can download a complete list of our Bootcamp Acronyms to get even more familiar with industry lingo.