Integrating Agile and V Models for Complex New Product Development Planning Initiatives: A Hybrid Framework for Modern Day Product Development

Abstract

Modern engineering projects, characterized by increasing complexity, challenge traditional methodologies such as Waterfall, Agile, and Systems V models. While these methods are systematic and methodical, they often lack the flexibility to accommodate the evolving demands and uncertainties of large-scale new product development initiatives. Innovations in digital transformation and entrepreneurial eco-system design, driven by AI, machine learning, and Internet of Things (IoT), highlight the need for adaptive, iterative development methods that can reduce product time-to-market durations. Agile methods are typically used for software development and are often difficult to apply in hardware-centric projects. This paper presents an Integrated Agile V-Model framework, that combines Agile's iterative flexibility with the V model's structured, gate-driven approach. This hybrid framework streamlines complex system management, risk mitigation, stakeholder engagement, and cross-functional collaboration throughout the project lifecycle. The framework could particularly be beneficial in sectors such as aerospace, defense, advanced manufacturing, healthcare, construction, energy, automotive, and technology, where adaptability and objective-driven milestones are critical to project success.