Stylianos Kavadias

Christoph Loch

Managing new product development is a key area of management, straddling strategy, innovation and entrepreneurship and macro-organizational behaviour. All of the contributorsin the Handbook of New Product Developmentare are well-known and leading exponents to theory of New Product Development and to methods used in practice. They draw upon their experience and work to offer a comprehensive view of the challenges in managing the development of new products. Existing knowledge in the different topics is examined and the key management challenges, and the important gaps in our knowledge are discussed. Most of the chapters draw upon systematic interaction with companies and practice and this is presented in the examples and the case studies cited. The Handbook of New Product Development and Management surveys this area in the context of an overall framework that explains how aspects interact and combine in a successful NPD process. Each chapter outlines open questions and highlights needs for future research. *A comprehensive view of the challenges in managing the development of new products from well-known and leading contributors in the field * The first handbook to fill the gap for a high-level handbook which is valuable to both the academic/practitioner

Handbook of New Product Development Management

Christoph H. Loch

Project Selection Under Uncertainty is the result of a five-year research program on the selection of projects in New Product Development (NPD). Choosing the New Product Development portfolio is of critical importance in today's business environment. The NPD portfolio has considerable strategic effect on the "middle term" success of a business. This book takes a step in developing a theory that addresses the need for quantitative prioritization criteria within the broader strategic context of the R&D portfolios. Its foundation lies in mathematical theory of resource-constrained optimization with the goal to maximize quantitative returns. The book seeks to broaden the portfolio discussion in two ways. First, simplified models - appropriate for the data-poor NPD context - are developed, which attempt to illuminate the structure of the choice problem and robust qualitative rules of thumb, rather than detailed algorithmic decision support. Such robust rules can be applied in the R&D environment of poor data availability. Second, the annual portfolio review is not the only important choice in resource allocation. In addition, the book discusses how ideas might be pre-screened as they emerge, and how projects should be prioritized once they are funded and ongoing.

Stylianos Kavadias

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