Published: 05 July 2023
Many R&D leaders struggle to accurately and consistently evaluate projects in the early stages of new product development. By tailoring their assessment criteria and approach, R&D teams can more effectively prioritize early-stage ideas and increase projects’ likelihood of success.
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Strategic fit, sales and revenue potential, alignment to customer needs, technical feasibility, and capability fit are some of the criteria most commonly used to evaluate early-stage projects.
With incremental and next-generation projects, R&D leaders often focus on estimating financial metrics such as anticipated revenue as well as estimating a project’s development timeline and resource requirements.
Traditional revenue-driven criteria are ill-suited for evaluating higher-risk, higher-uncertainty transformational projects, particularly in the early stages of development. Instead, incorporating criteria such as transferable lessons and disruption potential helps R&D leaders account for the inherent unpredictability of transformational outcomes.
R&D leaders responsible for new product development
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