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Portfolio Management for New Products
Book

Portfolio Management for New Products

Robert G. Cooper, Scott J. Edgett and Elko J. Kleinschmidt
Perseus Books, 2001
First Edition: 1998

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Editorial Rating

6

Qualities

  • Comprehensive
  • Innovative
  • Applicable

Recommendation

Three professors, Robert G. Cooper, Scott J. Edgett and Elko J. Kleinschmidt, wrote this book. The good news is that they really know their stuff; the less-than-great news is that they write like, well, professors. The book is hampered by academic prose, qualifiers, tangents and a scholarly, if balanced, reluctance to commit completely to most propositions. getAbstract finds that readers seeking a comprehensive catalog of product portfolio management techniques will benefit from the detailed initial chapters. Meanwhile, readers who are in search of practical, applicable information will find more of what they want in the later chapters.

Summary

The Purpose of Product Portfolio Management

Product portfolio management is important because:

  • Every business needs to be able to choose worthwhile new products that will win in the market and that match the company's business goals.
  • Companies express their strategies in their selection and development of new products. Portfolio management, therefore, connects strategy with product choice, and helps the company become or remain competitive.
  • In an environment of scarcity, businesses need to make the most of the resources that are available. Portfolio management helps funding and personnel to meritorious projects that fit the company's strategy. With portfolio management, you can make sure your company has the right mix of projects and the right volume of work.
  • Portfolio management helps companies set the right priorities, select the right projects, and deliver them profitably and on time, maximizing their enterprise value.

Portfolio management entails selecting new-product projects, allocating resources and planning strategy. The businesses that perform best rely more on business strategy than on financial models. Strategy-based...

About the Authors

The three authors are professors at McMaster University in Hamilton, Ontario. Marketing professor Robert G. Cooper runs a product management organization. Scott J. Edgett, who heads a project development institute, teaches marketing. Elko J. Kleinschmidt teaches international business and marketing, and directs the engineering and management programs.

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