Abstract—This study of the factors that are correlated withsuccess in New Product Development (NPD) is based on 68responses to a survey of medical device companies in the UK andIreland. It was found that the degree of technological innovation, the involvement of end users in the development process, the dissemination of NPD priorities to staff, and the use of financial analysis throughout the development process were all correlated with success in a statistically significant manner. These findings demonstrate the importance of innovation, integration and the use of financial metrics to sustained product development success. In addition, this survey found that new-to-the world innovations made up only 4.4% of NPD projects in larger companies and 9.3% of NPD projects in small and medium sized enterprises.
|Title of host publication||Unknown Host Publication|
|Number of pages||5|
|Publication status||Published (in print/issue) - 28 Jun 2008|
|Event||Engineering Management Conference, IEMC Europe 2008 - Estoril, Portugal|
Duration: 28 Jun 2008 → …
|Conference||Engineering Management Conference, IEMC Europe 2008|
|Period||28/06/08 → …|
Bibliographical noteReference text: REFERENCES
 B. Shaw , “The Role of the Interaction between the User and the Manufacturer in Medical Equipment Innovation,” R&D Management, vol 15, pp 283-292, 1985.
 L. Rochford and W. Rudelius, "New product development process," Industrial Marketing Management, vol. 26, pp. 67-84, 1997
 B. Wood, “Characterising medical device development,” Northcon – Conference Record, pp 254-259, Seattle, 1986
 R. Rothwell, "The ‘Hungarian SAPPHO’: some comments and comparisons," Research Policy, vol. 3, pp. 30-38, 1974.
 B. J. Zirger and M. A. Maidique, "A Model of New Product Development: An Empirical Test," Management Science, vol. 36, pp.867-883, 1990.
 M. Parry and M. Song, "Identifying new product successes in China,"Journal of Product Innovation Management, vol. 11, pp. 15-30, 1994.
 R. G. Cooper and E. J. Kleinschmidt, "An investigation into new product process: steps deficiencies and impact," Journal of Product Innovation Management, vol. 3, pp. 71-85, 1986.
 M. R. Millson and D. Wilemon, "Managing innovation in the medical device industry," presented at IEMC (International Engineering Management Conference), San Juan, 1998.
 J.Eatock, D.Dixon, B.J. Meenan, T. Young, J.Anderson, “Report on Medical Device Product Development Processes: Some Illustrative Examples,” MATCH, 2005
http://www.match.ac.uk/downloads/Deliverable%205%20_P2_D5_V2_051031_.pdf, accessed Jan 2008
 A. Griffin, "Modeling and measuring product development cycle time across industries," Journal of Engineering and Technology Management, vol. 14, pp. 1-24, 1997.
 F. Langerak, E. Peelen, and E. Nijssen, "A Laddering Approach to the Use of Methods and Techniques to Reduce the Cycle Time of New-tothe-Firm Products," Journal of Product Innovation Management, vol.16, pp. 173-182, 1999.
 R. J. Calantone and C. A. Di Benedetto, "Performance and time to market: accelerating cycle time with overlapping stages," IEEE Transactions on Engineering Management, vol. 47, pp. 232-244, 2000.
 K. B. Clark and T. Fujimoto, Product development performance: strategy, organization, and management in the world auto industry: Harvard Business School Press, 1991.
 S. G. S. Shah and I. Robinson, "User Involvement in Medical Device Technology Development and Assessment: A Structured Literature Review," International Journal of Health Care Quality Assurance, vol. 19, pp. 498-513, 2006.
 European Commission, “The new SME definition,” 2005 http://ec.europa.eu/enterprise/enterprise_policy/sme_definition/sme_use
r_guide.pdf, accessed Jan 2008.
 R. G. Cooper, "Your NPD portfolio may be harmful to your business health," vol. 29: Visions Magazine, 2005.
 T. CenterWatch, "Drugs Approved by the FDA (2005)," Thomson CenterWatch, 2006.
 D. Dixon, A. Brown, B. Meenan, and J. Eatock, "Experiences of New Product Development in the Medical Device Industry," in Medical Device Technology, vol. 17, 2006, pp. 20-22.
- Medical devices Product development Research and development management Technological innovation