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World’s Top Innovation Expert Uncovers Newest Drivers of Product Innovation Success

ANCASTER, ONTARIO, CANADA - June 13, 2011 - Stage-Gate International (SGI) announces the release of New Product Development: Process Benchmarks and Performance Metrics. This breakthrough report, a collaborative study between APQC and Product Development Institute with Dr. Scott J. Edgett as subject-matter expert, reveals the most current and comprehensive innovation performance indicators used today, allowing companies to benchmark their performance against top organizations and learn best practices in product innovation.

The report reveals the performance of over 200 companies across 60+ innovation performance metrics. Breaking down results into best, average and worst performance, this report serves as a tool companies can use to measure their performance and identify areas for improvement. "Without objective measurements of your performance, it is hard to judge whether you are improving or not," explains Dr. Edgett. "Once you understand your current state, you can then identify and isolate areas for improvement." The study further dives into the best practices that global innovation leaders employ to achieve success with new products. The study also uncovers the latest drivers of innovation success including the utilization of a clearly defined and visible idea-to-launch Stage-Gate process and effective gatekeeping practices that deliver profitable and sustainable product development performance.

The study not only addresses the process of developing innovative new products, but investigates the role, and importance that people play within organizations. The study explores the nature of project teams and various approaches to project team management, including the roles of both the Stage-Gate process manager and senior management. "Product innovation - its success or failure - lies in the hands of people who work on or lead project teams, and on their management" explains Dr. Edgett.

Building on the best practices, five detailed case analyses are provided to highlight how true innovators establish and utilize best practices in the study. Included are studies from: Air Product and Chemicals Inc.; Ashland Inc.; Becton, Dickinson and Company; Electro Scientific Industries Inc.; and EXFO Electro-Optical Engineering Inc. For further information, and to purchase this report, please visit Stage-Gate International's website on New Product Development: Process Benchmarks and Performance Metrics.

For further information, and to purchase this report, please visit Stage-Gate International's website on New Product Development: Process Benchmarks and Performance Metrics.

Further information can be found on the Media Resources page.

For media or interview requests, contact:

Michelle Jones, Executive Vice President
Phone: +1-905-637-8793 ext. 223

For report inquiries, contact:

Emir Ozdemir, Product Manager
Phone: +1-905-637-8793 ext. 224


About Scott J. Edgett

Dr. Scott J. Edgett is internationally recognized as one of the world’s top experts in product innovation and is the pioneer of portfolio management for product innovation. He is a high profile speaker and sought-after consultant. Dr. Edgett has had extensive experience working with large multinational clients in a variety of industries, principally focusing on issues affecting innovation leadership and capability. He is credited with helping business executives and innovation professionals successfully implement world-class innovation processes that have generated outstanding results. His speaking engagements and consulting work have taken him around the globe to work with some of the world’s best innovators and companies among the Fortune 1000.

Dr. Edgett is Chief Executive Officer and co-founder, with Dr. Robert G. Cooper, of both Product Development Institute and Stage-Gate International. He has spent more than 20 years researching and developing innovation best practices and working with organizations in product innovation. He is a prolific author having coauthored six books including the popular ‘Portfolio Management for New Products, 2nd Edition’ and has published more than 60 academic articles. Dr. Edgett is a former Professor of the Michael G. DeGroote School of Business, McMaster University in Ontario and is a Faculty Scholar at the Institute for the Study of Business Markets (ISBM) at Penn State University.

About APCQ

APQC is a member-based nonprofit and one of the leading proponents of benchmarking and best practice business research. Working with more than 500 organizations worldwide in all industries, APQC focuses on providing organizations with the information they need to work smarter, faster, and with confidence. Every day they uncover the processes and practices that push organizations from good to great.

Product Development Institute

Product Development Institute is dedicated to helping companies improve their approach to new product development and portfolio management. The Institute has conducted some of the world's most comprehensive research and best practices in new product development - research that has led to some of the most important discoveries in product innovation such as: the widely used Stage-Gate® system; the concept of New Product Portfolio Management; and the Innovation Diamond™ Framework.

Stage-Gate® is a registered trademark of Stage Gate, Inc.
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