Nowadays, the competitiveness of manufacturing companies depends on a fast responsiveness to the change of customer demands. In a competitive situation, reducing the product development lead time is a critical measure of the success of a company because it offers opportunities such as setting product standards, being able to respond to initial customer feedback, and ultimately realizing higher profit margins. Therefore, it is an important issue for managers to shorten the lead time of the product development (PD) process. To this end, the following reengineering issues should be considered: 1. How do we describe the complex PD process? 2.How do we estimate its lead time? and 3.What are the guidelines for cutting it down, and how do we accomplish it effectively? To deal with the above issues, in this book, we propose a hybrid reengineering framework including process modeling, qualitative/ quantitative analysis, and reengineering rules. It will be useful to professionals in business/ engineering management fields, or anyone else who may be considering the reengineering approach based on business/ engineering process modeling and analysis.