Press Releases

Dr. Robert G. Cooper and Dr. Scott J. Edgett Make a Significant Contribution to the PDMA ToolBook for New Product Development

ANCASTER, ONTARIO, CANADA-April 8, 2002- Internationally recognized experts in the field of new product development and co-founders of Product Development Institute, Dr. Robert G. Cooper and Dr. Scott J. Edgett's article, "Portfolio Management: Fundamental to New Product Success", contributes to the newly published The PDMA ToolBook for New Product Development. Designed for the new product development professional, the book compiles successful approaches to all aspects of new product development, from idea inception to full product commercialization.

As an integral component of the "Portfolio Tools" section of the book, the article describes in-depth the four goals of portfolio management: maximizing portfolio value, achieving portfolio balance, aligning the portfolio to strategy, and selecting the right number of projects.

Cooper and Edgett explain that project selection based solely on financial analysis might not necessarily help to achieve maximum portfolio value. Instead scoring models based on criteria such as technical feasibility and strategic alignment might yield more desirable results. The use of visual charts and graphs, such as bubble diagrams illustrating risk versus reward, are recommended to help achieve a balanced portfolio. To achieve strategic alignment in portfolio management, the proven Strategic Buckets Model is outlined as a useful tool. Finally, the importance of selecting the right number of projects given the company's resources is emphasized.

Perhaps the most critical part of the article is the final segment dedicated to, "Putting the Portfolio Tools to Work". Several approaches are outlined so that organizations can successfully implement portfolio management process.

About Product Development Institute
Product Development Institute (www.prod-dev.com) is dedicated to helping companies improve their approach to new product development and portfolio management. Led by internationally recognized experts in the field of product development, Drs. Robert Cooper and Scott Edgett, PDI provides executives and managers with a wide range of products and services aimed at improving companies' new product success rates. Cooper and Edgett have worked with more than 800 businesses, including most Fortune 500 companies, and have compiled the largest knowledge base on product development best-practices in the world.

For further information please contact:

Scott J. Edgett
Product Development Institute
Tel: +1 905 304 8798
edgett@prod-dev.com