Well-founded decisions based on product-specific Knowledge Balances prior to the product development process

Optimal products and services as well as optimal product development processes are in demand to deal with the continuously growing product complexity and the increasingly competitive markets. Regardless of the development discipline or company location, expert knowledge has to be pooled and condensed to generate valuation methods and key figures for new product-specific Knowledge Balances. This approach will take account of methodologies according to different research fields. Using and combining technological and economical key figures as well as specific information about the company and its products, this new approach of a product-specific Knowledge Balance is able to dynamically suggest an optimal choice of product development groups and processes. Considering all data, it will be possible to generate a solid basis for decision making prior to the product development process and derive detailed product specifications and project plans as the result of the Knowledge Balance.