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New product development resource forecasting
Author(s) -
Hird Abigail,
Mendibil Kepa,
Duffy Alex,
Whitfield Robert Ian
Publication year - 2016
Publication title -
randd management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.253
H-Index - 102
eISSN - 1467-9310
pISSN - 0033-6807
DOI - 10.1111/radm.12140
Subject(s) - resource (disambiguation) , resource planning , new product development , computer science , field (mathematics) , product (mathematics) , product planning , management science , process management , operations research , knowledge management , risk analysis (engineering) , data science , business , engineering , environmental resource management , economics , marketing , computer network , geometry , mathematics , pure mathematics
Forecasting resource requirements for new product development ( NPD ) projects is essential for both strategic and tactical planning. Sophisticated, elegant planning tools to present data and inform decision‐making do exist. However, in NPD , such tools run on unreliable, estimation‐based resource information derived through undefined processes. This paper establishes that existing methods do not provide transparent, consistent, timely or accurate resource planning information, highlighting the need for a new approach to resource forecasting, specifically in the field of NPD . The gap between the practical issues and available methods highlights the possibility of developing a novel design of experiments approach to create resource forecasting models.