8.1.2 Balanced product development portfolio

The business goals and strategy should define the key criteria to be used in preparing the product development portfolio. These include:

     degree of novelty or newness;

     level of technology;

     target market;

     level of risk;

     desired return on investment;

     time frame.

Preparing a balanced portfolio of new product development, consistent with business aims, is a critical part of product development management.