Title: Evaluating innovation ideas: a comprehensive approach to New Product Development

Authors: Friedrich Kerka, Bernd Kriegesmann, Markus G. Schwering

Addresses: Institute for Applied Innovation Research (IAI), e.V. at Ruhr University of Bochum, Buscheyplatz 13, D-44801 Bochum, Germany. ' Institute for Applied Innovation Research (IAI), e.V. at Ruhr University of Bochum, Buscheyplatz 13, D-44801 Bochum, Germany. ' Institute for Applied Innovation Research (IAI), e.V. at Ruhr University of Bochum, Buscheyplatz 13, D-44801 Bochum, Germany

Abstract: Many companies still invest most of their innovation resources in projects that never reach the market or prove to be flop soon after launch. Simultaneously, genuine |big ideas| often experience difficulties in surviving the early stages of development. Firms assigning resources to, providing organisational framing for, and stimulating synergies between related New Product Development (NPD)-projects stand a chance to achieve better returns on innovation. Adapted from literature-based discussions and empirical findings we describe which problems continue to crop up when trying to evaluate innovation ideas. Furthermore we address how organisational limits and decision mechanisms for the evaluation of innovation are structured.

Keywords: NPD; new product development; innovation projects; evaluation of ideas; technology portfolios; innovation scorecards; cost effectiveness; error management.

DOI: 10.1504/IJTIP.2009.024174

International Journal of Technology Intelligence and Planning, 2009 Vol.5 No.2, pp.118 - 137

Published online: 28 Mar 2009 *

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