Innovation Industrial Project Development 

Innovation and industrial product development is regarded as the focal point of an organization's strategy and a crucial factor for it's competitive strength and survival. Organizations develop innovations to adapt to their external environment and to react to perceived changes inside or outside the organization. Innovations can be implemented in the organization's outcomes, it's structure, and it's processes in order to maintain or to improve the level of performance or effectiveness. An important factor will be to more clearly define a central constraint on the growth of the manufacturing sector the ability to translate innovation into commercial products. Federal policy can help renew manufacturing in America by improving the process of transition from research and development to domestic product design, manufacturing, and product deployment. Unfortunately, many of today's manufacturers suffer from a lack of access to new technologies, new processes, new markets, and a skilled workforce to make this transition. Many firms have knowledge about what needs to be done but need help in taking appropriate action.

Various types of innovations can be differentiated: social, organizational, administrative or technical, incremental or fundamental, product or process. In any organization a large number of objects of the innovation process can be named. This paper examines product and process innovations of industrial companies. Innovation is regarded as a crucial factor for the survival and the competitive strength of any industrial firm. Industrial firms have to adapt to increasing global competition and dynamics. This results in a large number of innovative products, processes and services developed by the companies. The part of new products in the companies' product portfolio increased in the last years. For industrial firms the development of new products and services is the engine of growth. The firm's competitive position is determined by the ability to innovate it's product portfolio and the time required to bring new products to the market.