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Related Experiment Videos

Creating project plans to focus product development.

S C Wheelwright1, K B Clark

  • 1Harvard Business School.

Harvard Business Review
|February 8, 1992
PubMed
Summary
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Manufacturers need an aggregate project plan to manage product development effectively. This strategic approach ensures projects align with business goals, optimizing resource allocation and timely product launches.

Area of Science:

  • Business Strategy
  • Product Development Management

Background:

  • Most manufacturers lack systematic product development processes.
  • This leads to misaligned projects, resource overruns, and delayed product launches.

Purpose of the Study:

  • To introduce the aggregate project plan as a strategic solution for product development challenges.
  • To highlight the importance of viewing projects as a cohesive set rather than individually.

Main Methods:

  • Implementing an aggregate project plan.
  • Utilizing a project map to categorize development initiatives.
  • Categorizing projects into five types: breakthrough, platform, derivative, R&D, and partnerships.

Main Results:

  • Restructures the development process from individual projects to a project set.

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  • Improves resource allocation, project sequencing, and capability building.
  • Ensures a balanced portfolio of projects for a robust development pipeline.

    • Conclusions:

    • An aggregate project plan is crucial for long-term manufacturing competitiveness.
    • Strategic project portfolio management, including diverse project types, is key to successful product lines.