Critical success factors for innovation projects
Keywords:
innovation, new product development, project management, project successAbstract
A survey was conducted in a large food and beverage corporation, actively involved in innovation projects, to determine if critical success factors for innovation projects are different to those for other types of projects. As a result of the study, it was found that innovation projects have critical success factors that are similar to those in other types of projects: definition and understanding of project mission and goals, top management support, project planning, project user acceptance, contingency management, and project management. Factors related to the product, the company or the market are less important than factors related to the project, although relative product quality is also very important.
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