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Expert Support Systems for New Product Development Decision Making: A Modeling Framework and Applications

Author

Listed:
  • Matthew J. Liberatore

    (Department of Management, College of Commerce and Finance, Villanova University, Villanova, Pennsylvania 19085)

  • Anthony C. Stylianou

    (Department of Management Information Systems and OM, The Belk College of Business Administration, University of North Carolina at Charlotte, Charlotte, North Carolina 28223)

Abstract

A modeling framework that merges knowledge-based expert systems and decision support systems with management science methods for project evaluation is presented. In particular, the strategic decision to commit to full-scale development of a new product is considered. At the core of the framework are the methods and techniques used for acquiring, modeling and processing the expert knowledge and data. Methods and techniques used include scoring models, logic tables, the analytic hierarchy process, discriminant analysis, and rule-based systems. The suggested modeling approach obtains the benefits of normative modeling as well as the flexibility and developmental advantages of expert systems. Additional benefits include reduced information processing and gathering time, which can help to accelerate the product development cycle. Potential spin-offs of this research include applications for project evaluation throughout the product development cycle and other areas such as capital budgeting. Finally, a series of related case studies that have successfully implemented this framework is described.

Suggested Citation

  • Matthew J. Liberatore & Anthony C. Stylianou, 1995. "Expert Support Systems for New Product Development Decision Making: A Modeling Framework and Applications," Management Science, INFORMS, vol. 41(8), pages 1296-1316, August.
    • Handle: RePEc:inm:ormnsc:v:41:y:1995:i:8:p:1296-1316
    DOI: 10.1287/mnsc.41.8.1296
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    Citations

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    Cited by:

    1. V. Krishnan & Karl T. Ulrich, 2001. "Product Development Decisions: A Review of the Literature," Management Science, INFORMS, vol. 47(1), pages 1-21, January.
    2. Sophie Hooge & Armand Hatchuel, 2008. "Value indicators and monitoring in innovative PDM: A grounded approach," Post-Print hal-00696974, HAL.
    3. Matsatsinis, Nikolaos F. & Siskos, Yannis, 1999. "MARKEX: An intelligent decision support system for product development decisions," European Journal of Operational Research, Elsevier, vol. 113(2), pages 336-354, March.
    4. Scott E. Sampson, 2008. "OR PRACTICE---Optimization of Vacation Timeshare Scheduling," Operations Research, INFORMS, vol. 56(5), pages 1079-1088, October.
    5. Jonathan Owens, 2004. "An Evaluation Of Organisational Groundwork And Learning Objectives For New Product Development," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 12(04), pages 303-325.
    6. Guodong (Gordon) Gao & Lorin M. Hitt, 2012. "Information Technology and Trademarks: Implications for Product Variety," Management Science, INFORMS, vol. 58(6), pages 1211-1226, June.
    7. Davis, Jefferson T. & Massey, Anne P. & Lovell, Ronald E. R., 1997. "Supporting a complex audit judgment task: An expert network approach," European Journal of Operational Research, Elsevier, vol. 103(2), pages 350-372, December.
    8. Liberatore, Matthew J. & Hatchuel, Armand & Weil, Benoit & Stylianou, Antonis C., 2000. "An organizational change perspective on the value of modeling," European Journal of Operational Research, Elsevier, vol. 125(1), pages 184-194, August.
    9. Prodan Igor & Ahlin Branka, 2008. "A Best Practice Model for Useful Suggestions Management," Organizacija, Sciendo, vol. 41(2), pages 50-61, March.
    10. Wang, Jue & Xu, Wei & Ma, Jian & Wang, Shouyang, 2013. "A vague set based decision support approach for evaluating research funding programs," European Journal of Operational Research, Elsevier, vol. 230(3), pages 656-665.
    11. Sungjoo Lee & Chanwoo Cho & Jaehong Choi & Byungun Yoon, 2017. "R&D Project Selection Incorporating Customer-Perceived Value and Technology Potential: The Case of the Automobile Industry," Sustainability, MDPI, vol. 9(10), pages 1-18, October.

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