New product development doesn't get done with paper and pen any longer. Nor is the back of the napkin the preferred receptacle for brainstorming. While the creative process is still fundamentally messy (and human), managing it efficiently is vital to business success. How can project portfolio management contribute?
As part of an ongoing series of conversations about trends in project and portfolio management, [email protected] interviews Gisela Wilson, director of product, project and portfolio management solutions for IDC, a global market research firm based in Framingham, Mass.
How long has project portfolio management been making inroads into the NPD arena?
Project management and project portfolio management have expanded into the new product development arena only over the last two to three years. This area is definitely broadening the market for both PM and PPM. It's a newer application that's being added to project management per se. It gives companies the ability to watch their entire product line: To see where the most profitable investments can be made and to evaluate products mid-term in the development cycle, so [if needed] they can either be killed or assigned more resources.
Why is PPM expanding into this area, and why now?
The whole opportunity for PPM in new product development started with the global expansion of