The mythical man-month (anniversary ed.)
The mythical man-month (anniversary ed.)
A Punctuated-Equilibrium Model of Technology Diffusion
Management Science
Dynamic R&D Investment Policies
Management Science
Dynamic Programming and Optimal Control
Dynamic Programming and Optimal Control
ICEC '05 Proceedings of the 7th international conference on Electronic commerce
Computers and Industrial Engineering
Prioritization and operations NPD mix in a network with strategic partners under uncertainty
Expert Systems with Applications: An International Journal
Computers and Industrial Engineering
Design and Use of Preference Markets for Evaluation of Early Stage Technologies
Journal of Management Information Systems
Risk-adjusted approach to optimize investments in product development portfolios
IBM Journal of Research and Development
OR PRACTICE---R&D Project Portfolio Analysis for the Semiconductor Industry
Operations Research
Information Technology Portfolio Management: Literature Review, Framework, and Research Issues
Information Resources Management Journal
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Selecting program portfolios within a budget constraint is an important challenge in the management of new product development (NPD). Optimal portfolios are difficult to define because of the combinatorial complexity of project combinations. However, at the aggregate level of the strategic allocation of resources across product lines, investment in a program is not an all-or-nothing decision, but can beadjusted, resulting in a higher or lower program benefit (e.g., higher or lower quality). In some cases, resources can be adjusted even for individual projects.With this insight, one can usemarginal analysis to optimally allocate the scarce budget. This article develops a dynamic model of resource allocation, taking into account multiple interacting factors, such as independent or correlated, uncertain market payoffs that change over time, increasing or decreasing returns from the NPD investment, carry-over of the investment benefit over multiple periods, and interactions across market segments. We characterize optimal policies in closed form and derive qualitative decision rules for managers.