New product development resource forecasting
Hird A, Mendibil K, Duffy A & Whitfield RI (2016) New product development resource forecasting. R&D Management, 46 (5), pp. 857-871. https://doi.org/10.1111/radm.12140
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.
R&D Management: Volume 46, Issue 5
|Publication date online||12/05/2015|
|Publisher||Wiley-Blackwell for RADMA|