The PDMA conducted a study in 2003 to identify trends in new product development practices and their impact on success. Companies are becoming more conservative in their project portfolios, which may be affecting the sales and profits of new products. Formal processes for NPD are now common, with a focus on managing multiple projects efficiently. Software tools are widely used to support NPD. Areas needing improvement include idea management, project leadership, and innovation support. Successful firms integrate innovation strategy throughout the organization, prioritize team communication, experiment extensively, and use various new methods for NPD. All companies struggle with recording and sharing ideas effectively. The best approach for organizing NPD is still unclear.