Checkpoints in New Product Development. Issue 4 (1st October 2020)

• Record Type: Journal Article
• Authors: Li, Jinsheng; Zhang, Di; Liu, Liping
• Is Part Of: Engineering management journal. Volume 32:Issue 4(2020)
• Page Start: 283
• Page End: 297
• Publication Date: 2020-10-01
• Subjects: New Product Development -- Checkpoint -- Outsourcing; R&D Project Management, Innovation and New Product Development, Program and Project Management; Engineering -- Management -- Periodicals; Engineering -- Management; Periodicals; 620.0068
• DOI: 10.1080/10429247.2020.1758538
• Languages: English
• ISSNs: 1042-9247

Abstract

Abstract: Outsourcing the development of new products requires firms to establish strategies to monitor and control progress. We explore the value of establishing checkpoints within the product development lifecycle and provide a basis for determining the most appropriate point at which to review the progress of a development project. We find that establishing checkpoints reduces risk and allows firms to adjust their revenue-sharing ratio according to the progress of the project. We determine that the success of outsourcing is affected by the feasibility of the project and the level of effort and capabilities of the agent.