The aim of the research is to develop novel models and computational methods for product lifecycle engineering and management. This research is linked to the EU FP7 EASY-IMP project dealing with Meta-Products. A Meta-product is a customer driven customisable entity that integrates sensory/computing units, which are in turn connected to the cloud, leading to a paradigm shift from mass production to intelligent, over-theweb configurable products. The goal of EASY-IMP is to develop new methodologies, tools and readyto-use components for designing and producing intelligent wearable products as Meta-Products. The aim of this thesis is to define the requirements and new needs along the lifecycle of the Meta-Products and specify a development methodology related to these needs. To handle multiple alternatives in parallel, representing digital as well as physical yields, it is proposed to use a set-based concurrent engineering (SBCE) paradigm. Exploring alternative design solutions and studying the feasibilities using proven data and knowledge at early stages support engineers to find more innovative and robust solutions. To capture configurations (alternatives) from an evolving baseline structure, specific Configuration Management is needed. Innovative supply chains/networks for the efficient design/development and distribution of wearable meta-products should be analysed and the definition of an overall system architecture should be implemented.