According to the literature, on an average, it takes around three to four years to develop a new product and about 50 percent of the costs incurred in product development (PD) tend to be spent on waste that occurs during the PD process. Hence, organizations are implementing various alternative methodologies such as Concurrent Engineering (CE), Lean Product Development (LPD)/Lean New Product Development (LNPD), and Agile Product Development (APD)/Agile New Product Development (ANPD) to improve their existing PD process. However, it is not clear: how does an organisation or a PD manager choose between these alternative methodologies for improving their PD process?