Innovation and development strategy

Abstract In this article we shall examine the influence of the innovation strategy of a company on the controllability of development projects, the development costs, and the lead time of projects, as well as the measures to be taken. We shall also emphasize the importance of having a development strategy so that the available development capacity will be employed in such a way that possible risks with regard to the realizability of the product concept will be anticipated at the earliest possible stage of the project. These risks depend on the degree of innovation compared to existing product versions and to what extent predevelopment has gained an insight into these risks. It is necessary to anticipate the possible risks in order to maximize the chances of successfully completing the development project within the time fixed and without exceeding the budget available.