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Supporting NPD Projects
In the area of new product development, project portfolio management solutions can help bring strategic and financial control throughout the project or product lifecycle. However, an NPD process roadmap is critical to the success of these tools. This article reviews PPM offerings in the NPD arena, and outlines a best-practices methodology to implement.
Project portfolio management should be a key component of any organization’s new product development (NPD) strategy. The main challenge faced by managers and executives tracking NPD projects is the identification of bottlenecks in the process that are relevant to their unique function within an organization. For instance, at any given time, project managers need to identify the short-term availability of resources in relation to the requirements of a portfolio of projects. Vice presidents and C-level executives, on the other hand, need to identify mid-term and long-term viability, return on investment, and strategic business decisions regarding their resource investments.
According to the Product Development Institute, organizations apply PPM methodology to address the following three critical issues in NPD and R&D projects.
1. Maximizing the value of portfolios by effectively managing and allocating resources to optimize profitability, maximize ROI, and reduce risk. This is achieved through the financial controls and …
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If you look at it, manure isn't such a bad word. You got the "newer" and the "ma" in front of it. Manure. - George Costanza |