PDMA Develops Corporate Innovation Standards

CHICAGO, July 1, 2014 /PRNewswire/ -- The Product Development and Management Association (PDMA),  the premier global advocate for product development and management professionals, today announced that it has developed the first Corporate Innovation Standard, to provide top executives a disciplined structure in which to drive successful and meaningful product development within any sized corporation.   

"This initiative is critical to our vision of PDMA being a thought leader in the innovation community.  It is one of several new offerings that PDMA is implementing so companies can better innovate, as well as providing more value for our corporate members," said Robert Hale, President and Chair of PDMA International.

The Standards are based on decades of PDMA research and proven disciplines within the world's most innovative companies; and provide a structure to improve a company's existing new product development (NPD) process.  They include an assessment tool and maturity grid to guide the improvement process, and are structured in the following areas:

• Culture
• Leadership
• Resources
• Processes
• Monitoring & Measuring
• Improvement

In partnership with the TIM Foundation, PDMA will provide certified trainers, consultants and auditors when requested to assist with the implementation of The Standards within corporations.

For almost 40 years, PDMA has been a resource for corporations, product development executives and R&D teams for best practices in innovation. Through its continual surveys, academic research, publications, and its annual Outstanding Corporate Innovator award, PDMA has members with more innovative practices, and, more importantly, the cultures that best promote innovation.

"We have taken decades of research, academic writings, lessons learned from our annual Outstanding Corporate Innovator awards, and knowledge through our membership networking to build a set of standards for corporations to develop new products and processes that will impact not only their bottom line, but their market shares as well," said Stephen Uban, Chairperson of the PDMA Standards Committee and PDMA board member. "We are already seeing results from these standards in the beta stages, and look forward to redefining innovation in an era when it is most needed."

The Corporate Innovation Standards will be discussed and taught at length at the PDMA's annual Product Innovation Management conference (PIM) later this year.  Corporate teams and executives will be eligible to be trained in the new set of standards at the event.  In addition, the PIM conference will celebrate the winners of the Outstanding Corporate Innovator award, including educational and networking opportunities with the winner. Past winners include FedEx, DuPont, Harley Davidson, and United Health.

Those interested in obtaining the Corporate Standard and related training, please email [email protected]

About PDMA

The Product Development and Management Association (PDMA) is the premier global advocate for product development and management professionals. Our mission is to improve the effectiveness of individuals and organizations in product development and management. This is accomplished by providing resources for professional development, information, collaboration and promotion of new product development and management.

The development of new products and services involves an integrated set of unique activities. PDMA is the only organization that focuses on addressing this challenge by providing the following opportunities for professional development: education, experience, networking and recognition. Through its annual Outstanding Corporate Innovator award, PDMA showcases the real-world application of innovative disciplines and allows members to learn from and network with top innovators from around the world. Past winners have included Clorox, FedEx, Xerox, DuPont and Harley Davidson.

Contact: Thomas J. McFeeley
(219) 213-0402
[email protected]

SOURCE Product Development and Management Association