Managing technology selection and development decisions in new product development process

Managing technology selection and development decisions in new product development process

Managing development decisions for new products based on dynamically evolving technologies is very vital and complex task. Managers often have to choose between introducing moderately better, less risky product early and a superior, costly, and highly risky product later. We developed a modeling fra...

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Bibliographic Details
Published in:2013 Proceedings of PICMET '13: Technology Management in the IT-Driven Services (PICMET) pp. 1558 - 1566
Main Authors: Sanayei, Amir, Monplaisir, Leslie F.
Format: Conference Proceeding
Language:English
Published: PICMET 01-07-2013
Subjects:
Analytical models
Business
Mathematical model
Principal component analysis
Product development
Technology management
Uncertainty
Online Access:Get full text
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Summary:Managing development decisions for new products based on dynamically evolving technologies is very vital and complex task. Managers often have to choose between introducing moderately better, less risky product early and a superior, costly, and highly risky product later. We developed a modeling framework in order to analyze the implications of time to market, performance and development cost. The model considers development uncertainty in a competitive environment. Our analysis helps determining optimal new product launch time and the best managerial actions in order to maximize total profit.
ISSN:2159-5100