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In this article, we attempt to introduce the concept of process effectiveness and process value. The relationship between rework probability and process effectiveness is discussed. The evolution function of process effectiveness is proposed to drive the overlapped iteration process of multi-coupled activities. The evolution process with input information update is studied, and a simulation model is presented to obtain the accurate iteration process of development. It is useful to analyze the risks during development, and has good flexibility and versatility. The calculation method of process value for overlapped iteration process is given, and an optimization model for product development process is provided. The model is used to improve the development process of the stamping die of a car roof. 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