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In recent times, Concurrent Engineering (CE) has been proposed in order to overcome the costly and time-consuming shortcomings of long-standing product development methods. Simultaneous engineering teams are typically formed to join the product designer to provide analysis and reasoning about potential manufacturing, assembly, and performance problems and costs that may result if the current design embodiment is further developed. The designer must take into account these “predictions” and suggestions before finalizing the design, since the final design specifications do determine most of product development costs and results. However, both the theory and implementation of these CE methods must be re-formulated to eliminate their shortcomings and to maximize productivity. We propose that a complete, successful CE development method must be based on 3 fundamental concepts. These concepts lay the foundation for an ideal product development method.