%0 Journal Article
	%A Gerard E. Sleefe
	%D 2010
	%J International Journal of Industrial and Manufacturing Engineering
	%B World Academy of Science, Engineering and Technology
	%I Open Science Index 42, 2010
	%T Quantification of Technology Innovation Usinga Risk-Based Framework
	%U https://publications.waset.org/pdf/8042
	%V 42
	%X There is significant interest in achieving technology
innovation through new product development activities. It is
recognized, however, that traditional project management practices
focused only on performance, cost, and schedule attributes, can often
lead to risk mitigation strategies that limit new technology
innovation. In this paper, a new approach is proposed for formally
managing and quantifying technology innovation. This approach uses
a risk-based framework that simultaneously optimizes innovation
attributes along with traditional project management and system
engineering attributes. To demonstrate the efficacy of the new riskbased
approach, a comprehensive product development experiment
was conducted. This experiment simultaneously managed the
innovation risks and the product delivery risks through the proposed
risk-based framework. Quantitative metrics for technology
innovation were tracked and the experimental results indicate that the
risk-based approach can simultaneously achieve both project
deliverable and innovation objectives.
	%P 868 - 872