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Does  Dr. Eliyahu M. Goldratt's Theory of Constraints apply to product development? It is debatable at best. The Theory of Constraints in its original form proposes to be an iterative process. This is best suited for policies and processes. It is difficult to juxtapose the same ideas on to a regular hardware product development process. The following dictates are available as part of the theory:

The key steps in implementing an effective process of ongoing improvement according to TOC are:

0. (Step Zero) Articulate the goal of the organization. Frequently, this is something like, "Make money now and in the future."

1. Identify the constraint (the thing that prevents the organization from obtaining more of the goal)

2. Decide how to exploit the constraint (make sure the constraint is doing things that the constraint uniquely does, and not doing things that it should not do)

3. Subordinate all other processes to above decision (align all other processes to the decision made above)

4. Elevate the constraint (if required, permanently increase capacity of the constraint; "buy more")

5. If, as a result of these steps, the constraint has moved, return to Step 1. Don't let inertia become the constraint.

 

Source: Wikipedia

This however can be used in building the case for a new product. This product should aim to solve a constraint that prevents the company or department from penetrating a new market. So, the key steps for a product launch within the framework of the Theory of Constraints could be:

0. "Penetrate a low cost market"

1. High cost of development

2. Outsource the factors that are adding to the cost.

3. Subordinate processes include

a. Identify Business Partner who can do part of the work

b. Identify components that help preserve IP

c. Add more project management resources

d. Establish deployment plan

4. Elevating the constraint would mean getting more resources attached to the product.

5. Evaluate