A product development system having application with respect to products and services across multiple industries and markets which reduces development time and increases probability of product or service success. The invention focuses on apparatus and methods of integrating sufficient information into product development cycles to help ensure successful product creation, and to help ensure that the product development cycle may be successfully repeated with respect to the development of additional products and services. A computer implement product planning tool provides a main project planning application having a hierarchical product planning architecture configured to be interactive with project planning tool user.