Improve Your R&D Productivity – an Online Discussion on The Best Ways to Select New-Product Projects for Development
- Event Type
- Research Project
- 02/27/202311 am - 12 pm
Customer Insight, New Product Development, Portfolio Management
What’s new or best in the way we select the right new-product development projects for our R&D portfolios?
Think about it….there are two ways to win at new products:
- The first is to “do projects right”. Much has been written about best practices in new-product (NP) project execution—about the need for VoC, robust front-end homework, and effective project management.
- The second way to win is to “do the right projects”. Or as one executive exclaimed “Even a blind man can get rich in a gold mine; you don’t have to be the best miner, just be in the right mine”. Doing the right projects is about project selection, picking winners, and making the right R&D investment decisions.
Join Robert (Bob) Cooper for an online discussion of how to improve the way to select development projects.
To register for the meeting, contact Matt Dorocak.
If you’re interested in maximizing your New-Product Development (NPD) productivity, read on:
Our “batting average” in new-product development is not great! For major projects, one-in-four development projects – those formally approved for Development – succeeds. Even at launch, after all the work is done, the success rate is still only 60%.
So what’s going wrong? Let’s chat… about key challenges and especially about some of the better solutions.
Some of the issues we hope to get into details on the topic of NPD selection and prioritization decisions (project Go/No Go investment decisions) in our discussion include:
- Do you make these Go/No Go decisions largely by gut feel or intuition? Or do you rely on a more structured or logical approach.
- If you’re using a structured approach, how and what? Does it work?
- Are there better and proven ways to make go/no go decisions on NPD projects you know of?
- Is relying on financial metrics, such as NPV or ROI, a good idea… especially in the early days of a development project?
- How accurate are the financial numbers anyway? Does anyone measure that?
- Is anyone using AI or ML to assist in the No/No Go decision? How? With what results?
- How do you avoid pipeline overload or gridlock – approving too many projects?
- Do you continually update the Business Case and then kill weaker projects already underway?
- How does one build ESG into the Go decision – it’s a very different metric than financial?
- Is anyone using a good multi-factor Scorecard to rate projects for go/no go decisions – how do you use it, and does it work?
We’ll undertake a polling before the event to see which of many possible sub-questions, like the ones above, would be of greatest interest to you, and then tailor the online event accordingly.
To be clear again: The main focus of our online discussion is on NPD project selection and prioritization decisions (project Go/No Go investment decisions). The discussion will have very much an operational and tactical focus – on the how’s and what’s, getting into the details of how we make these decisions, does it work, better ways; and also dealing with some of the problems around this topic, namely overloading the development pipeline, or the failure to kill bad projects.
We will not be dealing with higher level themes such as corporate governance, innovation strategy, or organizational design in this online discussion session.
Robert (Bob) Cooper
Dr. Robert G. Cooper … is one of the most influential innovation thought leaders in the business world today. He pioneered the original research that led to many ground breaking discoveries including the Stage Gate® Idea to Launch process. He has published more than 140 academic articles and 11 books, including the best selling “Winning at New Products” and “Portfolio Management for New products”. He is three-times winner of the Maurice Holland Award for best article in RTM’s journal Research-Technology Management. And he is #21 in the world in terms of citations (other people citing his work) across all fields of management. Cooper is ISBM Distinguished Research Fellow at Penn State’s Smeal College of Business Administration, USA, and Professor Emeritus, School of Business, McMaster University, Canada. Cooper’s work sessions with managers and his executive seminars on regularly receive top ratings: “Inspiring, profound, captivating, practical and effective!“
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