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The R&D Effectiveness Index: Performance Metric for Product Development (Part One of Two)

Overview

How do you measure your product development effectiveness in the aggregate? Today, with companies spending large sums on development process improvement, a new metric is needed, one that shows what you're getting for your investment.  In this article Michael McGrath and Mark Deck, of consulting firm Pittiglio Rabin Todd & McGrath, present The R&D Effectiveness Index.  The Index is an aggregate measure of the overall success of a company's product development efforts. It serves as an overall metric at a level above individual products and development projects, and provides management with a tool to measure the effectiveness of its product development process.  The R&D Effectiveness Index uses a simple formula to compare profit from new products to investment in new product development.  It provides insight into product development process dynamics and how it affects profitability.
(5 pages)

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