Application of Project Management in Development of New Products - An Exploratory Case

Abstract

Projects have been often utilized as a means of achieving an organization’s strategic plan. One type of project is for developing new products. Besides it is a fundamental element in company’ strategies are also extremely important for its long-term survival, represents one of the most risky endeavors of modern corporations. Considering those arguments, the adoption of tools and techniques to assist management is crucial. This paper aims at giving an overview of the application of project management practices in the new product development process (NPD) through the analyses of these methodologies and suggests a way for looking at and understanding the dynamics of these processes. The case study consisted of the analysis of the utilization of these practices in the product development process of two different units of an industry in the aerospace sector. From a theoretical analysis followed by an empirical one, it can be concluded that, although most tools are used to managing product development only a third of them are formal. Thos may lead to a lack of standardization as well as common understanding in product development.