The research approach and the case study presented in the paper are oriented towards the convergent use of a parametric modelling algorithm and of an advanced integrated CAD/CAE solution for the optimization of the product engineering design, for reducing the product life cycle environmental impact and for providing sustainability in product development. First of all, a conceptual model for the research framework is proposed, where the use of mathematical models (equations/mathematical relations, etc.) integrated into advanced CAD/CAE design solutions leads to parameterizing of the product structure and obtaining of some product component families (gears, shafts, screws, nuts, bushings, etc.). The presented case study refers to the application of the above outlined solutions for enhancing the design effectiveness and efficiency of 3D product assembly and part models (hereby exemplified for component parts like shafts and gears) for a particular construction of a technological device, using the powerful tools of the integrated product family Creo Parametric (Pro/Engineer) as mechanical design software. Some suitable conclusions are finally presented and some directions of further researches are also included.