Abstract
This report aims to provide a research how companies align New Product Development (NPD) Process and Project Management in their organizations. Developing a new product on time and within budget is a huge challenge to be faced in today's competitive marketplace. One of the major constraints faced for NPD success is day to day Project Management. The Research results explored how companies structure their NPD process and Project Management to strike a balance between the needs to optimize efficiency and flexibility of both, which often carry opposing implications for organizing and managing projects and NPD process.This paper proposes a set of requirement for establishing a design and framework for Heavy Component Industries. The framework can aid Project Management Teams and New Product Development Process Teams to work in alignment and could optimally allocate resources and dynamically respond to unexpected delays and budget overruns.
Published Version
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