Dimensioning a Product Development Project Portfolio Using a Closed Queueing Network

Research output: Chapter in Book/Report/Conference proceedingArticle in proceedings – Annual report year: 2019Researchpeer-review

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New product development processes are difficult to model as they are subject to high variability and are hard to monitor. In multi-project environments, one particular problem is to quantify the effects of changing the number of projects that run concurrently. In this paper, a closed queueing network model of the flow of projects in a product development system is presented. The model is evaluated using discrete-event simulation. Using a relation between a project’s monetary value and the time it spends in the system, an optimal number of concurrent projects is determined. Application of the model and results are shown for a case study of a Danish biotechnology company. Results show, that the value generated by the system can be increased by 17.5 percent by adjusting the total number of concurrent projects and by terminating low-value projects midway. Though the model is tailored to a specific system, it contains many features relevant for new product development systems in general.
Original languageEnglish
Title of host publicationProceedings of 2018 IEEE International Conference on Industrial Engineering and Engineering Management
PublisherIEEE
Publication date2018
Pages622-626
ISBN (Print)9781538667859
DOIs
Publication statusPublished - 2018
Event2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) - Bangkok, Thailand
Duration: 16 Dec 201819 Dec 2018
http://www.ieem.org/public.asp?page=home.htm

Conference

Conference2018 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM)
CountryThailand
CityBangkok
Period16/12/201819/12/2018
Internet address
CitationsWeb of Science® Times Cited: No match on DOI

    Research areas

  • Discrete-event simulation, Multi-project environment, New Product Development, Project Portfolio Management, Queueing network, Time-to-market
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