Improving internal product development for Well Innovation AS
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Well Innovation AS is an engineering company which both develops products on demand for a customer and develops products for their own portfolio. This has proved to be challenging in respect to obtain high efficiency in internal product development, while external product development has been more successful. The purpose of this thesis was to analyze the problem and suggest a solution on how to improve internal product development. The suggested solution has been developed with a combination of a theoretical approach to product development processes and project management in product development, and case-relevant interviews of Well Innovation AS personnel. The theory suggests that different product development models should be considered for internal and external product development. Theory also suggests that organizations like Well Innovation AS have a great need for strategic project management. The interviewees all accepts that the problem is real and requires recognition. There is a spread in arguments on what is the reason for the problem. This spread is beneficial for a good understanding of the problem. The arguments range from a technical point of view to an economic point of view. The results of the interviews are combined and discussed for conclusion purposes. The discussion then includes theoretical product development models, and tries to argue which of the previously introduced product development models to use in internal product development for Well Innovation AS. Even though there is a spread of arguments in the interviews they all points towards the same thing; Well Innovation AS has a need for strategic project management development. This is supported by theory. The thesis also suggests that Well Innovation AS is in need of a theoretical product development model to base their internal product development process on. A dynamic engineering model is suggested to be the most fitted. Rapid organizational growth is suggested to have had a negative effect on internal product development. Clearer roles in the organization should be considered.
Master's thesis in Industrial economics