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Part
3, Chapter 8
Improving the product development process 8.3.3 Metric selection criteria The set of innovation metrics should be selected according to the specific needs of the organisation. In selecting measures, they must be economical to collect, understandable to the people who are going to use the results, learning focused, externally focused, actionable, broad in scope and accomplish the stated objectives (Czarnecki, 1999). Innovation metrics should be regularly reviewed and changed as the direction and priorities of the organisation change.
Some basic criteria for metric selection are: ![]() shown in Table 8.3); ![]() ![]() ![]() ![]() imperatives; ![]() period. Some pitfalls for choosing metrics are predominance of short-term, financial, efficiency, economy and functional measures. It is important to select metrics not only because data are easy to find and they are within the capability of the benchmarking team and the understanding of top management. Metrics must also be relevant to the improvements to be made. |
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