The thesis titled "Optimizing Project Management Methodologies for Enhancing Efficiency and Success in New Product Development" focuses on advancing project management techniques within the automotive industry. The research primarily explores the integration of standardized management processes to streamline the production of a new component for German Truck & Bus company, highlighting the Flywheel Housing project at 2a S.p.A, an OEM for the automotive and truck industries. The study addresses significant challenges faced by the industry, such as increasing complexity and the need for timely delivery of innovative products. The thesis proposes a comprehensive project management framework that utilizes both traditional and innovative tools and strategies to enhance new product development execution from initiation through completion.