The business models used to develop forecasts at the planning level can be relatively simple. Over time some of your products will exceed expectations, others will fail altogether. By assembling a portfolio of projects you can optimize the overall expected value of your product development process by balancing risk/reward. This white paper reviews some of the business models and analytic processes for better forecasting.
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Creating high-value portfolios is simpler when the factors that create and destroy value for a project are clearly identified, quantified, and managed over the life of the project. Focusing on portfolio and project value throughout the product lifecycle can unlock the hidden potential missing in many portfolio management processes. Learn how product portfolio management (PPM) solutions can help you quantify project value.
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Hewlett Packard (HP) is a leader in innovation. The success of its merger with Compaq created an opportunity to develop entirely new areas of the business. Executives recognized that this would require exploring radically new ideas and managing the tremendous uncertainty surrounding moving into new businesses. Discover how implementing new project evaluation processes and software helped them deal with this challenge.
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We’ve all heard the same story time and again: the project that started with such high expectations has turned out to be—like many others—mediocre at best. The product development team is asking questions—"Where did the project go wrong? Why didn’t we see the problems earlier?" Many companies are turning to product lifecycle management (PLM) for help.
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Research shows that companies implementing product portfolio management (PPM) solutions achieve greater success in profitability because of their ability to monitor product value throughout the product selection and development processes. With the ability to evaluate this information through PPM capabilities, companies can take corrective action to maximize product value during new development—or kill projects that won’t deliver sufficient returns.
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Products may fail to meet expectations for many reasons—most of which are self-inflicted wounds (such as unclear product definitions) by the company bringing them to market. What’s more, politics and inertia all too often win the day when it comes to making difficult product portfolio decisions. What actions can you take to rank among those companies which realize margin advantages of over 50 percent for new products?
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