A Framework for successful new product development
Abstract: Purpose: The purpose
of this paper is to propose a framework of critical success factors, metrics,
and tools and techniques for implementing metrics for each stage of the new
product development (NPD) process.
Design/methodology/approach: To achieve this objective, a literature
review was undertaken to investigate decades of studies on NPD success and how
it can be achieved. These studies were scanned for common factors for firms
that enjoyed success of new products on the market.
Findings: The paper summarizes NPD success factors, suggests metrics that
should be used to measure these factors, and proposes tools and techniques to
make use of these metrics. This was done for each stage of the NPD process, and
brought together in a framework that the authors propose should be followed for
complex NPD projects.
Research limitations/implications: Several different research directions
could provide additional useful information both to firms finding critical
success factors (CSF) and measuring product development success as well as to
academics performing research in this area. The main research opportunity
exists in implementing or testing the proposed framework.
Practical implications: The framework can be followed by managers of
complex NPD projects to ensure success.
Originality/value: While many studies have been conducted on critical
success factors for NPD, these studies tend to be fragmented and focus on one
or a few phases of the NPD process. To the authors’ knowledge, this is the
first time a framework that synthesizes these studies into a single framework.
Author: Nadia Bhuiyan
Journal Code: jptindustrigg110031
