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This paper examines the intersection of the project management (PM) body of knowledge with new product development (NPD). The area under examination is development of consumer products (e.g. dishwashers) that have a significant engineering production content. It is concluded that the PM method, with its structured task definition and software tools, is generally useful for managing NPD projects. However, in some areas PM incompletely meets the needs of NPD. Specifically, NPD is characterised by complex interrelated activities and large uncertainties about precisely which solution path will be taken, such that the full scope of the project can often not be anticipated beforehand. The paper identifies that more research is required to validate the stage-gate and lean project management methods, and to clarify which areas in particular they benefit and how to reliably achieve those benefits. Whereas cost is the primary focus in PM (because conventional projects tend to only spend money), with NPD there is a need to consider both cost and income (from product sales) in making strategic decisions