A multi-criteria Approach to the Problem of Managing the new Product Development Project Portfolio (original) (raw)
Related papers
Product Management & Development, 2011
This work presents results from a research developed in a multinational automotive company. The main objective of this research was to prioritize New Product Development (NPD) projects. NPD projects prioritization is a Multiple Criteria Decision Making (MCDM) problem. Analytic Hierarchy Process was applied to solve this decision-making problem. Mathematical Modeling, a research method of qualitative strategy was initially adopted. However, a mixed strategy was followed, as concepts of Case Study were included in the research. Therefore, that research did not the purpose to be exhaustive, that is, initially, one of research objectives was to model, with MCDM, a real case of NPD projects prioritization. Nevertheless, the decision-making model and results presented in this work can be considered by other companies, mainly from automotive sector.
Strategic management of new product development projects
Portland International Conference on Management of Engineering and Technology, 2014
A successful organisation recognises that when an effective strategy is properly implemented, it will result in a sustainable competitive advantage. But when you examine the formulation of an organisational strategy, you quickly realise that strategy is really about choice. In this context project risk management based on analytical hierarchy process (AHP) approach is a systematic process of identifying, analysing and responding to risks manage. This paper presents the AHP as a potential decision making method in the project risk management field. The final aim of our work is to define a model for evaluating the performance of product development in order to measure their achievement and activate pathways for improvement.
Strategic management of the new product development process
International Journal of Service and Computing Oriented Manufacturing, 2016
A successful organisation recognises that when an effective strategy is properly implemented, it will result in a sustainable competitive advantage. But when you examine the formulation of an organisational strategy, you quickly realise that strategy is really about choice. In this context project risk management based on analytical hierarchy process (AHP) approach is a systematic process of identifying, analysing and responding to risks manage. This paper presents the AHP as a potential decision making method in the project risk management field. The final aim of our work is to define a model for evaluating the performance of product development in order to measure their achievement and activate pathways for improvement.
2014 9th Iberian Conference on Information Systems and Technologies (CISTI), 2014
This paper presents an approach to solve project portfolio selection problem (PPSP) in the presence of limited resources, multiples criteria, software projects, constraints, functions to be optimized, interdependent projects, and scenarios with a large number of projects available. For this purpose, it is divided into two phases, one for (i) optimization using the multiobjective algorithm NSGA-II and another (ii) postoptimization using the Analytic Hierarchy Process (AHP). Among their contributions, we can name (i) a solution to the combinatorial analysis 2 n and (ii) the structure of a hierarchy of criteria derived from subjective aspects.
Using multicriteria analysis and fuzzy logic for project portfolio management
Brazilian Journal of Operations & Production Management, 2019
Goal: to propose a hybrid method, combining AHP and Fuzzy, for project portfolio management. Originality/value: this paper meets the positive characteristics of both methods, adequately weighing the criteria and contemplating process subjectivity. Limitations that exist in both methods, such as the maximum number of alternatives and the difficulty of inserting new alternatives at the end of the process, are overcome. Design/methodology/approach: the AHP is applied for determining the criteria weights and fuzzy is used to compare the alternatives for each criterion. Results: the results show that the proposed hybrid method allows the ranking of many alternatives and provides higher reliability for decision makers. It must be noted that the system is fed by performance indicators, which minimize the subjectivity in decision-making—an important characteristic in the technology management. Moreover, the results provide the possibility of changing the number of projects at any time witho...
A Theoretical Framework for Project Evaluation and Selection in New Product Management
New Product Development has become compulsion for every organization because of tremendous change in market situations and technologies, shortening product life cycles, increasing rate of change in customer needs/preferences and increasing global competition. For which every organization has to be unique and challenging and needs to develop new products continuously, faster with more value added into it. For this purpose successful identification of right set of projects for developing associated new product at right time is a major activity of Project Evaluation and Selection (PES) in New Product Management (NPM). Of all the decisions taken in case of New Product, PES is pivotal because of complexity raised due constraints like economical resources, financial and technical. From literature it is identified that decision making of PES phase would be involved with multiple evaluative dimensions such as Strategic fit, Portfolio-Innovation Balance, Cost-Benefit analysis, Risk-Uncertain...
AHP AND INNOVATION STRATEGY AS PROJECT PORTFOLIO MANAGEMENT
The following technical report with some improvement describes the "chapter 9" of the project called: “Strategic Management of Technological Innovation Concerning The Battery Electric Vehicles (BEV)”. The "Chapter 9" agglutinates all chapters of "case 4" in which the BEV project introduces a real company case study (Workhorse Group Inc.). Chapter 9 takes performances of Analytic Hierarchy Process (AHP) method which has developed by professor Thomas L. Saaty in the 1970s. Also, the following report proposes to contribute an optimizing decision-making framework for some authentic Multiple-Criteria Decision-Making (MCDM) circumstances. Furthermore, the "supplementary resources" are available in the attachment of the Battery Electric Vehicles project. Remark that the “.sdmod” stands for the formats of “SuperDecisions Software”. The ".sdmod" formats adopted in “part c” of the project concerning the definition of AHP Tree and the related arguments regarding the Innovation Strategy as Project Portfolio Management (PPM). Also, the “PPM-F.xls” file format includes the “Solver” and the results of “part a” and "part b".
Analytic Hierarchy Process for New Product Development
(free download), 2013
"The success of a New Product Development (NPD) process strongly depends on the deep comprehension of market needs and Analytic Hierarchy Process (AHP) has been commonly used to find weights for customers’ preferences. AHP best practices suggest that low‐consistency respondents should be considered untrustworthy; however, in some NPD cases – such as the one presented here – this stake can be extremely big. This paper deals with the usage of AHP methodology to define the weights of customer needs connected to the NPD process of a typical impulse buying good, a snack. The aim of the paper is to analyse in a critical way the opportunity to exclude or include non‐consistent respondents in market analysis, addressing the following question: should a non‐consistent potential customer be excluded from the analysis due to his inconsistency or should he be included because, after all, he is still a potential consumer? The chosen methodological approach focuses on evaluating the compatibility of weight vectors among different subsets of respondents, filtered according to their consistency level. Results surprisingly show that weights do not significantly change when non‐consistent respondents are excluded. "
Evaluation and Program Planning, 2019
The primary goal in project portfolio management is to select and manage the optimal set of projects that contribute the maximum in business value. However, selecting Information Technology (IT) projects is a difficult task due to the complexities and uncertainties inherent in the strategic-operational nature of the process, and the existence of both quantitative and qualitative criteria. We propose a two-stage process to select an optimal project portfolio with the aim of maximizing project benefits and minimizing project risks. We construct a twostage hybrid mathematical programming model by integrating Fuzzy Analytic Hierarchy Process (FAHP) with Fuzzy Inference System (FIS). This hybrid framework provides the ability to consider both the quantitative and qualitative criteria while considering budget constraints and project risks. We also present a real-world case study in the cybersecurity industry to exhibit the applicability and demonstrate the efficacy of our proposed method. Ghorbaniane (2015) show that often multi-criteria decision making (MDCM) models, mathematical models, or a combination of both are used to solve project portfolio selection problems. In the following, the project portfolio selection literature is explored with reference to MCDM methods, mathematical models, and combination of the two. MCDM methods are commonly used to rank multiple alternatives according to multiple and often conflicting criteria (Mina, Mirabedini, Kian, & Ghaderi, 2014), thus making them suitable for solving project portfolio selection problems with complex and conflicting criteria. According to Wu, Zhang, Xu, and Li (2018), MCDM models are widely used for project evaluation and ranking. Han, Kim, Choi, and Kim