The product development team should not sit in the ‘design space' and only wait to be told what to do.  In addition to receiving the usual information - in case some of the cost drivers discussed herein have not been investigated - the development team needs to engage the rest of the product team, the company, Third Party Encumbrances ⁵ and the markets to ask them the questions that seem appropriate to the Whole Product-Life Cost. 

If time is a consideration, the old 80-20 rule is a good place to start: that is, go after the low-hanging fruit within the product design attributes.  Also look at the processes already in place, since various TQM studies have revealed that processes absorb a lot of costs, many times in excess.  For Old Product Development (OPD) programs, processes are great candidates for CR and CM.

In the case where the product is so new or different there may be few questions to ask and/or no answers - that's completely understandable.  However, even in these cases, ask the questions you have, do some brainstorming and inspect other, similar products or markets to gain insight into the cost drivers. In these cases the PDue-diligence most likely will eventually be worthwhile as the product is developed and marketed.

It would greatly benefit product developers if they understand that CR/CM is not a simple or quick activity.  PDue-diligence is necessary if a company wants to understand the Whole 'product-Life' costs of a new product, and it will enable both direct and indirect costs to be minimized during PD and controlled throughout the product's life cycle.

⁵http://www.techmankanata.com/ar-25-pg-1/Product-Development-from-30000-feet-Or.htm