Integrating Product and Project Management — A New Synergistic Approach

This is the authors' abstract. We don't add key points for this paper.

The discipline of project management has been used extensively for several decades in the construction and defense industries. Today, however, it is increasingly applied in a variety of industries and to all kinds of efforts including commercial product development. However, many technical managers find it difficult to capture the complexities involved in managing new product projects. Furthermore, both project and product management are conceptually still in their early stages and suffer from a sparse theoretical basis. This article suggests a modern three-dimensional conceptual model for jointly analyzing project and product development efforts. This model classifies projects according to their uncertainty, complexity, and pace and represents the dynamic tension and risk found in projects of various types. The article also suggests the following managerial implication: Correctly identifying the project at its onset and adapting a fit management style and managerial tools may help project managers achieve better results and increase the effectiveness of their development efforts. This concept may help managers focus on the critical aspects of their projects and lead to better organizational effectiveness.