The Value Of Information Updating In New Product Development
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The Value of Information Updating in New Product Development
Author: Christian Artmann
language: en
Publisher: Springer Science & Business Media
Release Date: 2009-04-21
Managing uncertainty in new product development projects for improved valuation and decision making is one of the most complex and challenging problems in operations management. It is important for any corporation depending on the success of new products and innovations. This work shows how uncertainty can be handled and partly resolved by conducting an information update during the development process. It is one of the first comprehensive models that combine statistical decision theory in form of Bayesian analysis with a real options framework for projects exposed to different sources of uncertainty. The proposed framework makes an important theoretical contribution in addressing this problem, while at the same time being of significant value to managers who face the difficult task of evaluating and managing complex product development projects.
The Value of Information Updating in New Product Development
Managing uncertainty in new product development projects for improved valuation and decision making is one of the most complex and challenging problems in operations management. It is important for any corporation depending on the success of new products and innovations. This work shows how uncertainty can be handled and partly resolved by conducting an information update during the development process. It is one of the first comprehensive models that combine statistical decision theory in form of Bayesian analysis with a real options framework for projects exposed to different sources of uncertainty. The proposed framework makes an important theoretical contribution in addressing this problem, while at the same time being of significant value to managers who face the difficult task of evaluating and managing complex product development projects.
Industrial Process Scale-up
Industrial Process Scale-up: A Practical Innovation Guide from Idea to Commercial Implementation, Second Edition helps industrial process innovators in research, development and commercial start-ups assess the risks of commercial-scale implementation, also providing them with practical guidelines and methods to reduce the risks to acceptable levels. In addition, the book can be used in cooperation with industrial R&D people and academic researchers to shape open innovation programs, and in education as a reference book. This updated edition has the latest literature and has been expanded with a scale-up of pharmaceutical processes and their history in both academia and the process industries. - Offers easily accessible, step-by-step and concise guidelines for industrial process scale-up - Explains each stage of the innovation funnel, from research, development, demonstration and commercial implementation for any process type and branch - Based on industrial experiences and practices that reduce the risks of commercial scale implementation of new processes to acceptable levels and reduce cost and time of process innovation