New product development managers in all industries wrestle with the question of how to best evaluate the ongoing performance of the product development function. Improving performance and results in new product development requires a clear understanding of current performance and whether that performance is improving or deteriorating. Metrics enable specific aspects of performance to be measured, and can be a powerful motivator for change. A company cannot manage what it cannot measure, and what gets measured gets done. Metrics should be both smart and simple. If they require a lot of explanation and definition, then collecting data and translating that data into actions becomes more difficult. Easy-to-understand metrics are easier to sell, and have a stronger impact on the process and the people who use it.

This white paper highlights the most common business- and project-level metrics used by best practice companies to gauge the effectiveness of their product innovation efforts. Find out what action steps you can take to improve the return on your product development investments.

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