Measuring team performance

Metrics can play an important role in helping companies to enhance their new product development efforts. A new approach applies metrics in several critical areas to measure and improve the performance of new product teams. Some of the metrics include: a team's ability to establish a clear vision, secure team member and management 'buy-in,' record project information, maintain adequate filing systems, conduct rigorous team review meetings, follow stage-gate processes, and retain a stable project team. If a team can excel in these seven areas, it will have a greater likelihood of capturing team knowledge and using that knowledge to speed development and improve new product success.