A product innovation charter (PIC) typically includes:
I. The market and technology focus: This outlines the target market and the technological approach the product will utilize.
II. The goals and objectives: This sets the strategic direction and desired outcomes for the new product.
A detailed financial analysis and project plan (III) are important but are usually part of the business case or project plan developed later in the new product development process, not the initial charter. References:
Cooper, R. G. (2001). Winning at New Products: Accelerating the Process from Idea to Launch. Basic Books.