An Investigation of Fast and Frugal Heuristics for New Product Project Selection

Albar, Fatima M.

doi:10.15760/etd.1057

Cited by 4 publications

(3 citation statements)

References 217 publications

(247 reference statements)

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“…Intuitive decisions, fast and simple processes, are substantially used based on heuristic techniques. Albar illustrated the advantages of the heuristic decision in the early phase of product development using Fast & Frugal heuristic (Albar, F. M., & Jetter, A. J. 2011).…”

Section: Decision Making In Product Development Processesmentioning

confidence: 99%

Investigating the Influence of the Decoy Effect in Pairwise Comparison in Terms of Idea Selection in the Product Development Process

Tanaiutchawoot

Bursac

Rapp

et al. 2019

Proc. Int. Conf. Eng. Des.

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Many activities in the new product development requires the decision making to find the final solution from multiple alternatives and make an evaluation. Even methods to support decision maker are available, the decision can go to the wrong direction because of heuristics. “Decoy effect” is a heuristic that appears in a comparison when 2 of 3 alternatives are similar but different in quality. The alternative that is similar but better in quality is possibly selected. The paper aims to understand the decoy effect by investigating it in the pairwise comparison that is a powerful technique for comparing alternatives. In an experiment, 3 ideas for the next generation of apple peeler are compared in pairs with different sequences. An impact of the decoy alternative on the comparison between other two alternatives, is investigated. Results show low impact of the decoy effect in the pairwise comparison, but this effect induces a high chance of selecting the decoy alternative when comparing the results from this study and the previous study by proposing 3 alternatives in the same sequence. Applying pairwise comparison to avoid decoy effect is thus an idea that will be further investigated.

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Section: Decision Making In Product Development Processesmentioning

confidence: 99%

Investigating the Influence of the Decoy Effect in Pairwise Comparison in Terms of Idea Selection in the Product Development Process

Tanaiutchawoot

Bursac

Rapp

et al. 2019

Proc. Int. Conf. Eng. Des.

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“…In contrast, the actual new product development project begins after the front-end and is structured, disciplined, and goal-oriented with a project plan. Accordingly, front-end research aims to manage front-end fuzziness [27]. This is achieved by keeping the front-end short and focused on developing stable project definitions, as well as by creating a system of evaluation points that is capable of quickly identifying and funding projects that will be technically and commercially successful, fit company strategy, and support the desired project portfolio mix [5], [28], [29].…”

Section: A Product Innovation Managementmentioning

confidence: 99%

Project management in product development: Toward a framework for targeted flexibility

Jetter

Albar

2015

2015 Portland International Conference on Management of Engineering and Technology (PICMET)

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As a discipline, project management has been accused of having lost its relevance for innovative initiatives because it emphasizes planning and control over the flexibility and learning-based strategies that are needed to succeed under uncertainty. Several authors therefore recommend adaptive project management practices-sometimes named "targeted flexibility"-that respond to project characteristics commonly found in innovation, namely novelty, complexity, speed and-as a result-uncertainty. This paper investigates how this proposed adaptation of project management occurs in a context with high levels of novelty that organizes work in projects and needs to accommodate projects of different pace, complexity and innovativeness: product development in small and medium enterprises that do research and development work in the same organizational unit. Results of a literature review and two exploratory studies, covering a total of 8 companies with multiple projects each, are presented. Implications for a future framework for targeted flexibility are developed, leading to the identification of the following needs for project management: (1) better understanding of the many ways in which project management impacts exploration and exploitation activities, (2) improved attention for the currently poorly supported preproject and early initiation stages, (3) a shift of focus from monitoring against plans toward monitoring against achieved learning, and (4) the formulation of transition paths from current new product development practice to higher project management maturity.

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“…Intercoder reliability "is a measure of the extent to which independent judges make the same coding decision in evaluating the characteristics of messages" . It is an accepted means to ensure qualitative research reliability, especially when content analysis is performed Albar 2013), although guidelines on proper execution of the process are limited . In essence, to establish intercoder reliability, text segments are presented to different coders, who perform the coding task without knowledge of how other coders have coded the text.…”

Section: 14intercoder Reliabilitymentioning

confidence: 99%

Achieving Organizational Ambidexterity: An Exploratory Model, Using Fuzzy Cognitive Maps

Alizadeh¹

2000

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Over the course of three to four decades, most well-established companies lose their dominating position in the market or fail entirely. Their failure occurs even though they have resources for sensing shifting market trends, skills and assets to develop nextgeneration technologies, and the financial means to fill skill gaps and afford risky investments. Nevertheless, incumbents obviously find it very difficult to invest in innovation that takes attention and resources away from a highly successful core business. A solution to this "innovator's dilemma" is the concept of "organizational ambidexterity", which has garnered considerable attention among researchers in organization and innovation. According to empirical findings and emergent theory, companies can improve their financial performance and ensure their long-term survival by balancing their innovation activities, so that they are equally focused on exploratory (discontinuous) and exploitative (incremental, continuous) innovations. But how can such a balance be achieved? The literature on the organizational theory and related fields (product innovation, knowledge management, creativity, etc.) identifies more than 300 contributing factors to innovation and ambidexterity: many are interdependent so that their impacts compound or cancel each other. Moreover, for many factors, there is limited empirical data and the size of impacts is unknown. To understand which managerial actions lead to ambidexterity, this dissertation develops a novel approach to the List of Tables vi List of Figures vii 1. Introduction 2. Approaches to Organizational Ambidexterity 3. Research Foundations: Exploratory Modeling and Analysis and Fuzzy Cognitive Mapping 4. Research Design 5 Simulations and results 6. Discussion of Results 7. Limitations 8. Future research 9. Contributions References Appendix A-List of concepts in final collective FCM Appendix B-Inter-coder reliability survey results Appendix C-Content Analysis using Fuzzy Cognitive Map (FCM) Appendix D-Expert panel and connection weight survey Appendix E-Domain and collective cognitive maps memo

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An Investigation of Fast and Frugal Heuristics for New Product Project Selection

Cited by 4 publications

References 217 publications

Investigating the Influence of the Decoy Effect in Pairwise Comparison in Terms of Idea Selection in the Product Development Process

Investigating the Influence of the Decoy Effect in Pairwise Comparison in Terms of Idea Selection in the Product Development Process

Project management in product development: Toward a framework for targeted flexibility

Achieving Organizational Ambidexterity: An Exploratory Model, Using Fuzzy Cognitive Maps

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