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Performance measurement in new product development: concepts and literature review

Summary form only given. Delivering new products to market on an increasingly fast pace has become a key success factor for many companies in the global economy. Rapid technological advances, global markets and short product life cycle have forced a company to focus its strategies on introducing new products to the market. Many companies succeeded, and many others failed in their new product introductions. The importance of NPD process and the failure experience have prompted a great effort of research on how to improve the process. However, a limited number of research is found in the area of performance measurement for new product development process. The objective of this paper is to review literature on new product development and its performance measurement.