|
Dr. Robert G. Cooper and Dr. Scott J. Edgett Make a Significant Contribution to the PDMA ToolBook for New Product Development
ANCASTER, ONTARIO, CANADA-April 8, 2002- Internationally recognized
experts in the field of new product development and co-founders
of Product Development Institute, Dr. Robert G. Cooper and Dr. Scott J. Edgett's article, "Portfolio Management: Fundamental to
New Product Success", contributes to the newly published The
PDMA ToolBook for New Product Development. Designed for the
new product development professional, the book compiles successful
approaches to all aspects of new product development, from idea
inception to full product commercialization.
As an integral component of the "Portfolio Tools" section
of the book, the article describes in-depth the four goals of portfolio
management: maximizing portfolio value, achieving portfolio balance,
aligning the portfolio to strategy, and selecting the right number
of projects.
Cooper and Edgett explain that project selection based solely on
financial analysis might not necessarily help to achieve maximum
portfolio value. Instead scoring models based on criteria such as
technical feasibility and strategic alignment might yield more desirable
results. The use of visual charts and graphs, such as bubble diagrams
illustrating risk versus reward, are recommended to help achieve
a balanced portfolio. To achieve strategic alignment in portfolio
management, the proven Strategic Buckets Model is outlined as a
useful tool. Finally, the importance of selecting the right number
of projects given the company's resources is emphasized.
Perhaps the most critical part of the article is the final segment
dedicated to, "Putting the Portfolio Tools to Work". Several
approaches are outlined so that organizations can successfully implement
portfolio management process.
About Product Development Institute
Product Development Institute (www.prod-dev.com)
is dedicated to helping companies improve their approach to new product development
and portfolio management. Led by internationally recognized experts in the field
of product development, Drs. Robert Cooper and Scott Edgett, PDI provides executives
and managers with a wide range of products and services aimed at improving companies'
new product success rates. Cooper and Edgett have worked with more than 800
businesses, including most Fortune 500 companies, and have compiled the largest
knowledge base on product development best-practices in the world.
For further information please contact:
Scott J. Edgett
Product Development Institute
Tel: +1 905 304 8798
edgett@prod-dev.com
|
