New Product Development Projects Portfolio: effective decision making to maximize value – Prasek
Abstract:
Effective New Product Development Portfolio Management process is essential to achieve financial goals and provide continuous growth to the organization through innovation.
The process of selecting and prioritizing New Product Development projects hinges on early decisions that are often challenged by a high degree of uncertainty. To strive in a constantly changing environment, a forward-looking approach is needed to inform the decision-making process. Dynamic optimization is fundamental to quickly adjust course, including decisions to terminate, reprioritize, or delay projects.
Best practices in operations management applied to New Product Development Portfolio Management can support making better decisions for the successful execution of the portfolio. Process analysis, Lean and Six Sigma tools and principles can help identifying opportunities for improvement and support portfolio prioritization and optimization to maximize the throughput of value.
PMI Talent Triangle: Ways of Working
PDUs: 0.75
