This is the first English edition of an established work on cost-driven product design and development. It offers tried and tested methods for understanding, influencing, and reducing product costs. The methodology and organization of cost management, as well as the effects on each type of cost are described. Using this knowledge the product developer can assume responsibility for costs. The discussion on the methods of cost reduction and cost-driven design draw heavily on the "Systematic Method of Design," an approach whereby the design process is divided into the phases of task clarification, concept development, preliminary design (embodiment) and the detailed layout. Design is the core of the coordinated process of modern product development, which falls under the concept of "Concurrent Engineering." This book stresses the collaboration of the different departments in a company, which is essential for the development of reliable and low-cost products. The numerous examples and detailed derivation of results provide the practical user with problem solutions and hints. Methods such as Target Costing and Simultaneous Engineering are described. Thus the book will also help the specialist who does not have the overview of the complex interrelationships in the enterprise. The work is also suited for students, as well as for practicing engineers.