Difficulties and risks; development status and tasks; and intellectual property are all part of the product design and development section of a Business Plan. When a business plan is initially developed, it must anticipate every aspect of that particular situation possible. Having this information while developing the plan is beneficial so as to understand what to expect and watch out for in the future while initiating and implementing the business plan. This information could change the plan itself.
As an example, identification of a potential risk such as discovering that a construction project may require deliveries of special products that must be ordered way ahead of time. Having that information will prevent a lag in the schedule while waiting for delivery of the product.
Development status is critical as are the tasks as this IS the schedule; what will happen and when. Constant vigilance must be placed and the team consistently monitoring development and what tasks must be accomplished, by when and by whom. Every task depends on the task preceding it and following it.
It is important to understand, for example, the intellectual property involved as this impacts the contract itself and the rules and regulations that are set forth for this particular project. The team must have an understanding of this at the onset and this will greatly impact how they conduct the design and development of the product and what the goal is.
