Concurrent Engineering is one of the information-based product development approach. Yet, the method of organizing the project team for the concurrent engineering is not clear. This study focuses on deriving a method to organize an information-based project team. The model consists of 4 layers : IT infrastructure, organization of the information-based project team, operation of the project team, an organization culture. Based on an analysis of new product development case, this study attempts to verify the model and to suggest more effective way of organization design and management for new product development.