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The full screen (Chapter 10) - Coggle Diagram
The full screen (Chapter 10)
full screen
-forces pre-technical evaluation, and summarises what must be done
-team collected full info before technical works
-involves the use of a scoring model, which is an arrangement of checklist factors with weights (importance) on them
purposes of the full screen
help manage the process by sorting the concepts and identifying the best ones
rank order good concepts
recycle and rework concepts
track appraisals of failed concepts
encourage cross-functional communication
Inefficient screening: financial resources and new product people are spread out over too many projects, or selected the wrong projects
helps the firm to decide whether it should go forward with the concept or quit
decide whether resources should be devoted to the project
feasibility of technical accomplishment
feasibility of commercial accomplishment
firms that can bypass full screen:
-smaller firms
-development process that are non-technical
*do a more complete concept test
the scoring model: an arrangement of checklist factors with weights (importance on them)
screening procedure
the scoring
unusual factors
what is being evaluated
the scorers or judges
weighting
scoring model for full screen of new product concepts
technical success factors: competencies/skills
commercial success factors: customer/market need
identify the best project to be used:
-rated on factors on a 1-5 scale
-importance weights for each success factors are also established
-weighted sums of the technical success and commercial success factors are calculated
-projects with the highest total scores are most likely to succeed
the scorers
new product managers
staff specialists (IT, distribution, procurement, PR, HR)
major functions (marketing, technical, operations, finance)
alternatives to full screen
profile sheet: graphically arranges the five-point scorings on the different factors
Project NewProd: helps to predict likelihood of product success or failure, and also identify weak spots that out to be rectified before approving the new product project
must-meet criteria: good strategic alignment between project and strategy, and acceptable risk-return ratio
-strategic alignment
-existence of market need
-likelihood of technical feasibility
-product advantage
-environmental health and safety policies
-return vs risk
-show stoppers
should-meet criteria: strategic importance, product advantage to the customer, and market attractiveness
Analytical Hierarchy Process (AHP): gathers managerial judgement and expertise to identify the key criteria in the screening decision, obtain scores for each project under consideration relative to these criteria, and rank the projects in order for desirability