Case Study: Product Development At Kirkham Instruments Corporation

1353 Words 6 Pages
Student name: Tao Wang Student number:11616947 A In this case ‘Product Development at KirKham Instruments Corporation’ from Harvard Business School, there are three main problems with product development at Kirkham. …show more content…
So that how to do reasonable allocation of resources is most important for most companies. On the other hand, although organizations have enough resources in development of project, reasonable allocation of resources can help organizations to get what they want achieve and make it faster and easier. Project portfolio management can be defined as the process of decision making about project(Hunt,R.A and Catherine,P.K, 2008). Managers make right resource allocation and decision through continually evaluating, selecting and prioritizing project. In this process, some existing project may be delayed, canceled or de-prioritized, and some new product will be introduced. Then managers will enable to distribute resource into different projects, which will be more effective and accurate. This process will help companies to meet the customer needs, achieve their strategic goals and get sustainable success(Hunt,R.A and Catherine,P.K, 2008). The purpose of the project portfolio management is to improve the success of corporations’ projects through distributing adequate resources to the project which can bring more benefits to corporations and keeping on monitoring and adjusting the project portfolio and allocations of resources as the environment changes (Hunt,R.A and …show more content…
Moreover, managers also created contract books to make clear and definite responsibility to each managers. However, as most projects had already begun and managers had different criteria for these evaluation, the product development funnel was not effective to help them. Moreover, these tools was usually used to improve communication between different managers. So the tool has not been used effectively to link the process of new product. E In this case ‘Product Development at KirKham Instruments Corporation’ from Harvard Business School, managers of KirKham Instruments Corporation had learned three key concepts from the seminar. Firstly, the corporation should cut some project to balance the company’s capacity and for reasonable allocation of resources. Secondly, an aggregate project plan is very important fot conducting the reasonable allocation of resources and the managers should made it. Thirdly, the corporation should establish the development funnel which can help managers to make decision about which project should be delayed, continued or killed. Based on these key concepts, the corporation had some change on the product development process. They made some project portfolio tools and used it to manager their projects. Through these tools to prioritize, accelerate or kill project, they could distribute resource into most

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