Integrating technology roadmapping and portfolio management at the front-end of new product development (original) (raw)

Project Portfolio and Strategic Alignment through Technology Roadmapping for Medium Sized Organizations and Business Units

Purpose: The objective of this research is to provide a step by step guide with a mix of tools for managers to align strategic objectives with the business unit project portfolio. Design/methodology/approach: The proposed model is applicable for business units and medium enterprises. It is a sequential model that gives a smooth transition from strategic vigilance to a selection of projects and programs which helps the organization to attain a competitive advantage in industry environment. Based on the most common tools of strategic planning and foresight, the main idea is to generate some sense of sequence and feedback process, in order to select the best ideas for the resource allocation optimization. Findings: When the project portfolio is defined by a set of rules or criteria, the construction of a technology roadmap is the next logical step, not only to classify the projects but to create a path through which the organization can implement them. A methodology to plan all this process was developed. Originality/value: This proposed model helps in the integration of the strategic planning with the step-by-step process at the functional level to run the projects and programs.

Product Portfolio Management: An Analysis of a Large Medical Device Company

IFIP Advances in Information and Communication Technology, 2013

This paper focuses on product portfolio management in a large multinational medical device organization. The contribution of this research is to provide insights into the nature, composition and decision making processes of product portfolios in a real world setting. The research is important because portfolio management decisions have a significant impact and influence the performance at each stage in the product life cycle. Results of the study indicate that portfolio management is a complex process in general but particularly challenging when dealing with technology development projects or innovative new products as unchartered waters are difficult to assess. We found that there are challenges with transparency and that stakeholders need fact based and information driven decisions. There is a need for better up front planning and systems to guide the process. Consistent criteria should be used to select and prioritize projects to facilitate better comparative ranking and allow for balanced portfolios, as well better resource distribution. However we also found that these criteria may change depending on the stage in the lifecycle.

Product Portfolio Management Best Practices For New Product Development: A Review Of Models

Foundations of Management

The survival of any industrial organization depends on whether producing goods or services hinge on how innovative they have become in managing their product portfolio to craft new products that changes with the ever-changing tastes and needs of their customers. This study delves in to the models and theories that drive product portfolio management practices in a way that they support the successes of new product development. Our review is based on selected studies at the frontier of product management, summarized, and compared based on authors experiences, subsisting models, and theories with the results purely based on qualitative rather than quantitative approaches. The essence is to explore possible new theory or model in this field of research.

Product Portfolio Management in Brazilian Technology-based Companies: Case Studies in Medium and Large Companies

Procedia Manufacturing, 2015

Product portfolio management (PPM) affects the trajectory of innovation and new product development because it guides not only the project of new products but also decisions to revise, update or discontinue products that are currently being produced and commercialized. Some studies emphasize that PPM allows companies to better evaluate, select and allocate resources across different product projects. The objective of this study was to analyze the PPM practices and methods in two Brazilian technology-based companies, one medium sized and one large. Portfolio management is more complex when a company has a reasonably sized portfolio with multiple projects in the pipeline. The main contribution of this paper is the study of product portfolio management in technology-based companies, which presents and analyzes the main practices that the companies have used for decision making in product portfolios. It was noted that the two companies used financial methods as the main mechanism for product portfolio decision making; not only does this corroborate with international researches on the subject, but it also demonstrates the companies' concern with the goal of maximizing value. Company A showed balance, including shortand long-term planning in its product portfolio as well as product designs with both incremental and radical innovations.

ISBN 978-90-77360-17-0 © CINet 2014 447 MANAGEMENT OF PRODUCT PORTFOLIO ORIENTATED TOWARDS TECHNOLOGICAL INNOVATION: A SURVEY ON LARGE AND MEDIUM-SIZED HIGH-TECH COMPANIES

Because they define not only projects for new products, but also revisions, updates, and decisions to discontinue products that are produced and sold, the management methods applied to the product portfolio are important elements for a good performance in the new product development. This paper aims to show the main methods large and medium-sized companies in the electronics, optical, and computer science sectors adopt for decision making involving the product portfolio. For such, a survey was conducted on a sample of 40 companies that operate in Brazil. Many of the firms follow an informal standard for such decision making. Among the formal methods used, the most present in the sectors surveyed were financial, market research, and mapping.

How to Select the Portfolio of New Product Development Projects

2016

portfolio management, stage-gate process In the paper we focus on the approaches and models that can be used in the selection of the portfolio new product development projects, taking into account the compliance with the company strategy, proper balance of projects in the portfolio, maximization of portfolio value and limitation of resources. We briefly characterize three basic tools: financial models, bubble-chart diagrams and strategic approach. 1 Portfolio management, consequences of its lack This is the fourth in the series of papers presented at AEDS conferences [Vacek 2004, 2006, 2007] and builds on their conclusions. It is generally agreed that the company cannot be successful and competitive without continuous innovation. The recent years showed that cost savings and leaning brings only short-term effect and that only by savings nobody (neither company nor individual) cannot become rich. Each innovation project brings hope in higher profits, however it also needs resources a...

Managing the new product development process: Strategic imperatives

Academy of Management Perspectives, 1998

For many industries, new product development is now the single most important factor driving firm success or failure. The emphasis on new products has spurred researchers from strategic management, engineering, marketing, and other disciplines to study the new product development process. Most conclude that in order to be successful at new product development, a firm must simultaneously meet two critical objectives: maximizing the fit with customer needs, and minimizing time to market. While these objectives often pose conflicting demands on the firm, there is a growing body of evidence that the firm may employ strategies to successfully meet these objectives. Successful firms are those that articulate their strategic intent and map their R&D portfolio to find a fit between their new product development goals and their current resources and competencies. Their success also rests on how well the technology areas they enter contribute to the long term direction of the firm by helping them build new core capabilities critical to the firm's long term goals. Strategic alliances to obtain enabling technologies may shorten the development process, but partners must be chosen and monitored carefully. When firms are choosing technologies to acquire externally, they must assess the importance of the learning that would be accrued through internal development of the project, and its impact on the firm's future success. Other imperatives include using a parallel (rather than sequential) development process to both reduce cycle time and to better incorporate customer and supplier requirements in the product and process design, and using executive champions to ensure that projects gain the resources and organizational commitment necessary to their completion.

Product Portfolio Management: An Important Business Strategy

Foundations of Management, 2015

The aim of this article is to provide reader with a comprehensive insight on the theories, empirical findings and models of Product Portfolio Management (PPM) during new product development. This article will allow for an in-depth theoretical approach on PPM and demonstrate to managers the importance of adopting PPM as business strategy during decision making. The objective of this paper is to present a literature review of models, theories, approaches and findings on the relationship between Product Portfolio Management and new product development. Relevant statistical trends, historical developments, published opinion of major writers in this field will be presented to provide concrete evidence of the problem being discussed.