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The Value of Information Updating in New Product Development Christian Artmann

The Value of Information Updating in New Product Development By Christian Artmann

The Value of Information Updating in New Product Development by Christian Artmann


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Summary

Managing uncertainty in new product development projects for improved valuation and decision making is one of the most complex and challenging problems in operations management.

The Value of Information Updating in New Product Development Summary

The Value of Information Updating in New Product Development by Christian Artmann

Managing uncertainty in new product development projects for improved valuation and decision making is one of the most complex and challenging problems in operations management. It is important for any corporation depending on the success of new products and innovations. This work shows how uncertainty can be handled and partly resolved by conducting an information update during the development process. It is one of the first comprehensive models that combine statistical decision theory in form of Bayesian analysis with a real options framework for projects exposed to different sources of uncertainty. The proposed framework makes an important theoretical contribution in addressing this problem, while at the same time being of significant value to managers who face the difficult task of evaluating and managing complex product development projects.

Table of Contents

Literature Review.- Model Description.- Model Properties.- Numerical Study.- Conclusion.- Statistical Distributions.- Supplement to Performance Variability Limitation.- Supplement to Mean-Variance Update.- Program Listing.

Additional information

NLS9783540938323
9783540938323
354093832X
The Value of Information Updating in New Product Development by Christian Artmann
New
Paperback
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
2009-02-17
208
N/A
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