PICKING THE WINNERS—INVESTING IN THE RIGHT PROJECTS
Take calculated risks. That is quite different from being rash.
—George S. Patton, U.S. general
IT’S TOUGH TO MAKE THE RIGHT INVESTMENT DECISIONS
There are two fundamental ways to win big at product innovation:1
1. The first way is doing projects right: Ensure that an effective cross-functional team is in place and that its members do the front-end homework; build in the voice of the customer; strive for a differentiated, superior product; be time-driven, and so on. Having a first-rate idea-to-launch system to guide how projects should unfold and building in the many best practices outlined thus far in the book—the topics of Chapters 2 through 7—is the solution that many firms have adopted. ...