From trash to treasure: A checklist to identify high-potential NPD projects from previously rejected projects
Jian Qin and
Bo van der Rhee
Technovation, 2021, vol. 104, issue C
Recent research suggests that by reviewing previously rejected projects in NPD portfolios, it is possible to identify lessons learnt and better manage and handle new projects. Therefore, we argue that there might be hidden treasures in previously rejected new product projects due to recent technology developments or changes in customer preferences. However, after a systematic literature review and interviews with managers we found that there were no suitable tools available for firms to re-assess previously rejected projects. Therefore, by employing multiple qualitative methodological techniques, this study enriches the Stage-Gate model and innovation literature by developing a checklist that firms can use to identify potentially successful new products (treasures) among previously rejected projects (trash). As such, the checklist in this study is not only helpful for reducing the sunk cost associated with previously rejected projects, but can also exploit their potential for success, and become the company's new growth engine.
Keywords: Stage-gate model; NPD; Checklist; Innovation failure (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:techno:v:104:y:2021:i:c:s0166497221000407
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