Scott J. Edgett

Bio: Scott J. Edgett is an academic researcher from McMaster University. The author has contributed to research in topics: New product development & Project portfolio management. The author has an hindex of 27, co-authored 40 publications receiving 5692 citations.

Portfolio management for new product development: results of an industry practices study

Abstract: Portfolio management for product innovation – picking the right set of development projects – is critical to new product success. This article reports on the new product portfolio practices and performance of a large sample of firms in North America. Reasons why portfolio management is important are identified, followed by the relative popularity of the different portfolio techniques: financial methods are first, followed by business strategy methods, bubble diagrams and scoring models. Next, how the various portfolio methods fare in terms of six performance metrics is probed. Financial methods, although the most popular and rigorous, yield the worst results overall, while top performing firms rely more on non-financial approaches – strategic and scoring methods. The details of how some of these more popular methods are employed by firms to rate and rank development projects are also provided. Finally, managerial implications, including suggestions for making portfolio management more effective in industry, are outlined.

Benchmarking Best NPD Practices—II

Abstract: OVERVIEW:This first of three articles reports the results of the most recent American Productivity and Quality Center study on performance and best practices in new product development. Performance results achieved on a number of NPD metrics are reported first, followed by a set of Best Performing businesses, what these businesses have in common and—most important—what differentiates them from the rest. This first article focuses on the “people side” of NPD—on how project teams are organized and on other winning characteristics of teams. The climate and culture for innovation within the business proves to be one of the strongest drivers of NPD performance, and the specifics of what the Best Performers have done to achieve this positive climate are outlined. Finally the role of senior management in setting the stage for the business's NPD effort is examined.

Portfolio Management For New Products

Abstract: In this fully updated edition of Portfolio Management for New Products, the authors present a rigorous and practical approach to managing a company's product portfolio as you would a financial portfolio-investing for maximum long-term growth. With its field-tested, step-by-step framework, the book provides corporations and managers with the strategies they need to assess and realign their current RD determine which products are most worthy of resource allocation; design and implement a portfolio management process; maximize the value of their portfolios; and recognize and solve challenges as they arise. This book will be an essential resource for any company whose profitability, and very existence, relies on the products it chooses to develop and the speed with which it brings them to the market.

Optimizing the Stage-Gate Process: What Best-Practice Companies Do—I

Abstract: OVERVIEW:Now that most companies have implemented a systematic new product process to drive projects from idea to launch, the best-practice companies are improving their processes to make them both faster and more effective. With breakthrough ideas and home-run projects in short supply, some companies are adding a Discovery stage to the front end of the process in order to generate better ideas. Activities in this new stage include: building in an idea capture and handling system; doing voice of customer research work, including “camping out” with customers and working with innovative users; generating scenarios; and holding major revenue-generating events. Best-practice companies are also harnessing fundamental research more effectively by implementing a novel stage-gate approach.

A Multi‐Dimensional Framework of Organizational Innovation: A Systematic Review of the Literature

Abstract: This paper consolidates the state of academic research on innovation. Based on a systematic review of literature published over the past 27 years, we synthesize various research perspectives into a comprehensive multi-dimensional framework of organizational innovation - linking leadership, innovation as a process, and innovation as an outcome. We also suggest measures of determinants of organizational innovation and present implications for both research and managerial practice.

The dynamics of product innovation and firm competences

Abstract: This study examines how product innovation contributes to the renewal of the firm through its dynamic and reciprocal relation with the firm's competences Field research in five high-tech firms of varying age, size, and level of diversification is combined with analysis of existing theory to develop the findings of the study Based on the notion that new products are created by linking competences relating to technologies and customers, a typology is derived that classifies new product projects based on whether a new product can draw on existing competences, or whether it requires competences the firm does not yet have Following organizational learning theory, these options are conceptualized as exploitation and exploration These organizational learning concepts are used to gain a dynamic and path-dependent view of product innovation and firm development, and to reveal the unique nature and challenges of different types of product innovation Copyright © 2002 John Wiley & Sons, Ltd

Product Development Decisions: A Review of the Literature

Abstract: This paper is a review of research in product development, which we define as the transformation of a market opportunity into a product available for sale. Our review is broad, encompassing work in the academic fields of marketing, operations management, and engineering design. The value of this breadth is in conveying the shape of the entire research landscape. We focus on product development projects within a single firm. We also devote our attention to the development of physical goods, although much of the work we describe applies to products of all kinds. We look inside the "black box" of product development at the fundamentaldecisions that are made by intention or default. In doing so, we adopt the perspective of product development as a deliberate business process involving hundreds of decisions, many of which can be usefully supported by knowledge and tools. We contrast this approach to prior reviews of the literature, which tend to examine the importance of environmental and contextual variables, such as market growth rate, the competitive environment, or the level of top-management support.