Reducing the Risk of Failure in New Product Development

Reducing the risk of failure in new product development
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Project delays, cost overruns, misalignment with company strategy – these are just some of the things that can go wrong with new product development and they are often directly attributable to the very earliest stages of the innovation process.

 

The Centre for Technology Management (CTM) at the IfM has just published a new Practice Guide: 'Reducing the risk of failure in new product development: getting it right at the front end of innovation'. It provides insights and guidance for everyone involved in the innovation process so that they can avoid common pitfalls and improve their innovation pipelines.

 

Issues at the project front end - before new product development formally begins - can be the cause of some of the most common problems such as project delays, cost overruns and misalignment with company strategy.

 

The Guide considers two main types of innovation front end: idea-driven and opportunity driven. The former occurs when an innovative idea is generated either inside or outside the firm, and idea management systems and online communities can be valuable here. Opportunity driven front ends are initiated when new commercial opportunities are recognised; concepts considered here include ethnographic studies and ‘living labs’.

 

CTM Practice Guides are short practical guides on topics aimed at technology management practitioners, derived from work undertaken by CTM at the IfM.

 

To download the practice guide, please click here, or for more information, please contact:

 

Simon Ford

E: sjf39@cam.ac.uk

 


 

Practice Guides

Communicating Technology Intelligence

Communicating Technology Intelligence

This Practice Guide examines some of the barriers to effective Technology Intelligence communication and explores the ways in which intelligence can be better communicated and hence transferred to decision-makers.

 

Report

Reducing the risk of failure in new product development: getting it right at the front end of innovation'

The new Practice Guide examines the organisation of the front end of innovation. It describes how formalising the front end can avoid failures later on in the innovation process, and provides tips on what practices should be avoided.

 

Courses

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Visual approaches for strategy and innovation management: Explore and apply principles of visual design for presenting management information

Technology projects

Evaluating and selecting technology-based projects: applying tools and techniques to help you choose the right technology projects.

Technology and innovation management

Technology and innovation management: maximising the potential of new technologies.

Technology Intelligence

Technology intelligence: identifying technological opportunities and threats that could affect the future of your business.

Strategic Roadmapping

Strategic Roadmapping: aligning your organisation’s strategic and technology objectives visual approaches for strategy and innovation management.

Potential of early stage technologies

Realising the potential of early-stage technologies: fundamental issues associated with the management of early stage technology and innovation.

 

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Date published

1 March 2016

 
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