Book excerpt: Fully-updated Third Edition of the leading study resource for PDMA's New Product Development Professional certification exam The newly revised and updated Third Edition of PDMA Body of Knowledge (BoK) provides a singular reference for anyone currently involved in, or planning a career in product management and product innovation. It describes a proven framework for product innovation which is applicable to a wide cross-section of product and service industries at various levels of an organization. It is also the basis for candidates studying for PDMA's New Product Development Professional (NPDP) certification examination. The guide is divided into seven chapters, consistent with the seven product innovation topics used as a basis for the NPDP examination: management, strategy, portfolio, process, design and development, market research, and culture & teams. PDMA Body of Knowledge includes detailed coverage of topics including: The key factors that lead to successful product innovation management. The importance of strategy to product innovation success, hierarchy of strategies, and establishing the organization's direction via vision, mission, values, and more. The role of portfolio management in selection of the right product innovation projects for an organization. Description of various product innovation processes and the pros and cons of each. The application of tools and techniques at various stages of the design and development process. The application of market research throughout product innovation. The importance of the right culture and team development. The material provided can be applied to the full range of product development projects included in most company portfolios, such as new products or services, line extensions, cost reductions, and product or service improvements. This newly revised and updated Third Edition includes new case studies, examples, and chapter exercises, along with sample NPDP examination questions. PDMA Body of Knowledge is an essential study resource for those studying for PDMA's NPDP exam. The text is also highly valuable to product management professionals, consultants, instructors, and students seeking to increase their knowledge base