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An integrated multicriteria decision-making model for new product portfolio management

Kiranmayi, P and Mathirajan, M (2017) An integrated multicriteria decision-making model for new product portfolio management. [Book Chapter]

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Official URL: https://doi.org/10.1201/9781315152653


Even a best-performing organization requires a major improvement in project evaluation and selection (PES) methods as nearly half of initial new product development ideas occur informally or without a specific goal. In an organization, efficient PES requires trade-off among multiple criteria/dimensions such as maximizing revenues, optimizing resources, and minimizing risks. Researchers have been focusing on identification of these criteria or dimensions that are essential for evaluating a set of new portfolio projects. However, there is no exhaustive study, in terms of identification of evaluative criteria/dimensions for PES decisions and modeling them into a multicriteria decision-making (MCDM) model. Thus, in this study, we make such an attempt to fulfill this research gap. Accordingly, this study considers both qualitative and quantitative criteria/dimensions for PES decision in new product portfolio management (NPPM). Furthermore, this study proposes an MCDM model by integrating data envelopment analysis (DEA) and balanced scorecard (BSC) model (called as DEA-BSC model) for PES decision in NPPM. The proposed DEA-BSC model is demonstrated by developing suitable numerical example. The proposed MCDM model is expected to assist decision maker for selecting the right set of projects with higher development potential to maximize profitability and minimize the associated risk.

Item Type: Book Chapter
Publication: Big Data Analytics Using Multiple Criteria Decision-Making Models
Publisher: CRC Press
Additional Information: The copyright for this article belongs to CRC Press.
Keywords: Data envelopment analysis; Economic and social effects; Financial data processing; Investments; Product development; Project management, Balanced scorecards; Development potential; Multi-criteria decision making; Multi-criteria decision-making models; New product development; Product portfolio management; Project evaluation; Quantitative criteria, Decision making
Department/Centre: Division of Interdisciplinary Sciences > Management Studies
Date Deposited: 27 Jul 2022 04:54
Last Modified: 27 Jul 2022 04:54
URI: https://eprints.iisc.ac.in/id/eprint/74660

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