Front End Management New Product Development
Portfolio management -- Mathematical models, Product life cycle -- Decision making, New products -- Decision making, Uncertainty -- Effect on decision making
As successful organizations grow market presence through incremental product development, new product lines and radical innovation, they end up with a portfolio of products. In such an environment, new product ideas come from a variety of sources and at different rates, requiring varying forms of idea assessment criteria and models. The individuals responsible for screening the new product ideas face a unique engineering and technology management challenge in terms of being proficient in many aspects and methods of idea screening. Stage-gate™ is an innovation lifecycle or idea screening process that inserts gates, or Go/No-Go decision points between phases where the idea is developed before finally launching into the development of the idea into a marketable product. At these gates, gate-keepers or decision-makers make the Go/No-No decisions on whether the idea should be allowed to progress into the next phase. This study delves into the complexities that decision-makers face during the innovation lifecycle in a product portfolio environment. The gates are challenging in today’s fast-paced technology evolution model as the gate-keepers need to make the decision quickly. First, the key influencing factors that the gatekeepers face are established. Through interviews with three gate-keepers across different technology markets, a basic relationship between some of the key the influencing factors and the decisionmaking modeling used during the idea screening process is developed. The key contribution from this study is establishing the relationship between the influencing factors and the screening process or method that is employed by the decision-makers based upon the idea in consideration.
Sengupta, Sowmini, "Portfolios and the Fuzzy Front End: The Development Go/No-Go Decision" (2016). Engineering and Technology Management Student Projects. 68.