Explosive growth of information technologies (IT) has prompted interest in examining the role of IT in new product development (NPD). Through desk-top software and web-based tools, IT has been used to aid idea generation and product testing as well as for NPD activities such as process and portfolio management. Recent research suggests, however, that a gap exists between IT availability and usage. Given the importance of IT in creating business value through the development of new products and services, this study seeks to identify factors that affect IT usage. Further, anecdotal evidence and conceptual studies intimate that the usage of IT tools for NPD can shorten time to market, improve product quality, and increase productivity. However, empirical substantiation of this impact is mostly non-existent. The current study investigates the relationship between IT usage and two measures of new product performance, speed to market and market performance.Employing a mail survey methodology, our study uses data from a sample of practitioner members from the Product Development & Management Association (PDMA) to examine the effect of project risk, existence of a champion, autonomy, innovative climate, IT infrastructure, and IT embeddedness on the extent of IT usage.