Product development resource allocation with foresight

Product development resource allocation with foresight

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Article ID: iaor20053044
Country: Netherlands
Volume: 160
Issue: 1
Start Page Number: 72
End Page Number: 87
Publication Date: Jan 2005
Journal: European Journal of Operational Research
Authors: ,
Keywords: allocation: resources, scheduling
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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