Evaluation Of An Innovation At A Company

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This Pre-Midterm assignment is related to an innovation at a company where we are presented with four scenarios which has to be reviewed before going forward with the go/kill decision point. We should describe the final analysis of the four scenarios which includes calculations and likely outcomes for each of the scenarios provided. Discussion In the present competitive world, sustaining has become a crucial thing for companies. Only organizations who excel at innovation have been able to do it. It’s a known fact that life cycles of products are shorter and the customers are becoming more demanding due to fierce competitiveness. It is not that easy as we think to winning at new products. Some of the companies even fail to make it to the market. To overcome this obstacle one of the approaches used by companies is a Stage-Gate system. It is a concept based approach which provides a road map for new products from idea to launch. Stage-Gate divides the effort into different stages which are again separated by decision gates. Different players who are part of the project team are assigned different activities where they have to gather information to take the project to the next decision point. The Stage-Gate is divided into stages and gates. Stages do not have any research and development or marketing stage but all the activities involved are in parallel to push the product into the market. Gates are where the not so working out projects are withdrawn or pulled off and the resources are allocated to the best projects. Gates has to be dealt with three quality issues. They are qualities of business, rationale and action plan. Stage-Gate can be called as the most crucial discovery in product innovation. Sate-Gate has long lasting impact i... ... middle of paper ... ...t and scope. Any deviation in the value of these constraints affects the outcome of the project. Rationale decision making helps in a project for given conditions and constraints which goes according to the existing goals. References 1) Jerry & Vijay.M(1981). Designing Product and Business Portfolios. Retrieved from https://hbr.org/1981/01/designing-product-and-business-portfolios 2) By Admin (October 18, 2011). Evaluating projects using NPV. Retrieved from http://www.iplanware.com/blog/index.php/2011/10/18/evaluating-projects-using-npv-net-present-value/ 3) Ghoshal.B (June 8, 2015) Portfolio Management. Retrieved from http://www.slideshare.net/BishwjitGhoshal/portfolio-management-49113504 4) Joshi. S (April 22, 2014). Decision Making Models in Project Management. Retrieved from https://www.projecttimes.com/articles/decision-making-models-in-project-management.html
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