The typical Stages for a new product or service development project are:
Proposal: An idea is first written down as a brief description prior to the 5 Stage-Gate process starting.
Initial Investigation: A quick study of the Proposal, scoping of the project and outline estimate of the benefits, resources and costs needed to complete it.
Detailed Investigation: A detailed investigation and a full investment appraisal culminating in a decision to proceed with product or service development work.
Develop & Test: The actual development and implementation work with internal testing (unit, integration, acceptance and alpha testing).
Trial: A customer or controlled market trial to test all aspects of the development in the target users' or customers' operational and working environment.
Launch & Close: Beginning full roll out e.g. marketing and selling, product/service commissioning - the ongoing operational aspects handed over to the different organisational units (internal and external) and the project formally closed at the end of this stage.
About 3 to 6 months after closure, a check, known as a Post Implementation Review, is done to see if the new venture is achieving its business objectives and performing to the standards specified.