A new product development system may provide, to one or more client devices and server devices, one or more tools to enable development of a new product. The new product development system may receive current project data identifying a current project for developing the new product, historical project data identifying historical projects for developing historical products, and industry data associated with the new product. The new product development system may process the current project data, the historical project data, and the industry data, with a machine learning model, to identify one or more variables for a predictive model and may process the one or more variables, with the predictive model, to predict a predicted success rate of the current project. The new product development system may perform one or more actions based on the predicted success rate of the current project.