A New Method for Evaluating and Selecting Portfolio of New Product Development Projects.

Differentiation through NPD is one of the most effective ways to achieve success. However, because of the failure rate of these projects, it could not be expected firm’ success due to only one new product development project. Therefore, it should be selected a portfolio of new product development projects. In this research by literature review and interview with experts 20 criteria for evaluating new product development projects in disposable medical product extracted. Then by using analytic network process (ANP) based on DEMATEL method degrees of influences given and received among these criteria and also weights for each criteria based on correlation between them calculated. Finally, by evaluating NPD projects with VIKOR method, best portfolio selected. The proposed model is capable of considering complex interrelationship and interdependency between criteria and dimensions for more accurate project selection as well as providing appreciate solutions to improve selected portfolio performance by measuring these interrelationships between criteria and their effective degree and affected degree. The results show that the most important criteria for selecting portfolio of new product development projects are Platform for firm growth and Business-strategy fit.