Engineering organizations are experiencing a rapid increase in product complexity, driven by the need to continually innovate to survive and based on the exponential increase in the use of sophisticated electronics and software content in virtually every industry. The traditional “stage gate” methods of product development with separated “silos” of data, models and information across the engineering domains of mechanical, electrical/electronics, software, controls, chemical formulations, etc. is no longer adequate to define, optimize, assess and validate the performance of today’s complex systems… and systems of systems. Collaborating virtually with globally distributed product development groups as well as suppliers and teaming partners is also becoming an increasingly critical aspect of the product development lifecycle for most industries. The risk of “business as usual” is now becoming well understood across all industries based on companies that have recently experienced systems level failures resulting in costly product recalls, warranty claims, and non-compliance with government regulations.