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Product or brand success - Essay Example
Portfolio management refers to a vibrant decision process whereby list of investments or projects related to new products are listed, revised and updated regularly in an enterprise. With regard to this, the projects are analyzed chosen and prioritized…
In this case, exiting investments can be accelerated, eliminated or de-prioritized. Again, the resources within the business can be allocated or re-allocated to active investments. Normally, portfolio decision approach is characterized by changing and unforeseen information, vibrant opportunities, various objectives and strategic considerations among many others. Also, a variety of decision makers and locations are considered. In determining product success, portfolio management incorporates or ignores a number of decision making approaches in the business. These include periodic evaluations of the all portfolio investments, making of decisions with regard to individual projects on a continuous basis (Product Success 7). Similarly, there is development of new product process characterized by a complete resource distribution decisions.
Apart from decision making and resource distribution, new product portfolio control deals with future opportunities and events. However, there is a lot of information needed to make the best out of investments. First, there is need to understand that product portfolio control focuses on future chances and events. Therefore, most of the information needs to make investments selection decision process at its best. Secondly, the decision environment is a very vibrant one. The status and opportunities for investment in portfolio are continuously changing with the introduction of new information. Thirdly, projects in portfolio are at various stages of completion, although all the projects are competing for resources so that comparisons are made. Finally, resources to be distributed across the projects are restricted.