Characteristics and Implications of Forecasting Errors in the Selection of R& D Projects (Classic Reprint) - Softcover

Inhaltsangabe

This book targets the inaccuracy of forecasting in R&D project selection, focusing on typical errors that plague industrial product development programs. Drawing on research from multiple laboratories and computer simulations, the author analyzes the relationship between initial forecasts and project outcomes. The book emphasizes that errors in forecasting lead to a substantial portion of development budgets being wasted on projects that do not yield commercially successful products. The data and analyses provided enable managers to evaluate the accuracy of their own forecasting procedures and understand how errors propagate through the decision feedback loop. Ultimately, the insights gained from this book can assist firms in optimizing forecasting and project selection processes, improving resource allocation, and enhancing the efficiency of their R&D initiatives.

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