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Determinants of Timeliness in Product Development
Author(s) -
Cooper Robert G.,
Kleinschmidt Elko J.
Publication year - 1994
Publication title -
journal of product innovation management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.646
H-Index - 144
eISSN - 1540-5885
pISSN - 0737-6782
DOI - 10.1111/1540-5885.1150381
Subject(s) - profitability index , new product development , product (mathematics) , business , marketing , key (lock) , process management , time to market , project team , operations management , computer science , knowledge management , finance , economics , computer security , geometry , mathematics , operating system
Speed to market is a compelling objective in new product development. Robert Cooper and Elko Kleinschmidt report the results of an extensive study of 103 new product projects in the chemical industry, with a particular emphasis on project timeliness. The key questions addressed in the study are: what are the drivers of an on‐time, fast‐paced project; and to what extent are timeliness and profitability connected? The strongest driver of project timeliness was the use of a cross‐functional, dedicated, accountable team, with a strong leader and top management support. Number two was solid up‐front or predevelopment homework, whereas building in the voice of the customer–a customer‐focused, market‐oriented new product effort–was the third key to on‐time, fast‐paced product development projects. In total, six drivers of project timeliness were uncovered. The authors expand on each timeliness driver, giving details of best practices in the projects and firms studied, as well as their recommendations to managers for driving products to market more quickly. There are some words of caution as well: the link between timeliness and profitability was also investigated, with some sobering and provocative results.