Product development resource allocation with foresight |
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| Institution: | 1. Graduate School of Arts and Sciences, The University of Tokyo, Japan;2. Graduate School of Commerce and Management, Hitotsubashi University, Japan;3. Institute of Industrial Science, The University of Tokyo, Japan;4. Interfaculty Initiative in Information Studies, The University of Tokyo, Japan;5. Future Design Lab, The Japan Research Institute, Ltd., Japan;1. School of Economics and Management, University of Chinese Academy of Sciences, Beijing, 100190, China;2. Key Laboratory of Big Data Mining and Knowledge Management, Chinese Academy of Sciences, Beijing, 100190, China;1. South Wales Business School, University of South Wales, Pontypridd CF37 1DL, UK;2. UNESCO, 7 Place de Fontenoy, 75007 Paris, France;3. School of Management, Swansea University, Singleton Park, Swansea, SA2 8PP, UK |
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| Abstract: | Shortening project duration is critical to product development project success in many industries. As a primary driver of progress and an effective management tool, resource allocation among development activities can strongly influence project duration. Effective allocation is difficult due to the inherent closed loop flow of development work and the dynamic demand patterns of work backlogs. The Resource Allocation Policy Matrix is proposed as a means of describing resource allocation policies in dynamic systems. Simple system dynamics and control theoretic models of resource allocation in a product development context are developed. The control theory model is used to specify a foresighted policy, which is tested with the system dynamics model. The benefits of foresight are found to reduce with increasing complexity. Process concurrence is found to potentially reverse the impact of foresight on project duration. The model structure is used to explain these results and future research topics are discussed. |
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