Many scholars define new product development as an uncertainty reduction process. Because uncertainty can lead to both positive and negative outcomes, refinements in this initial definition are required for application to project management. Perminova et al. defined "uncertainty as a context for risks as events having a negative impact on the project0s outcomes, or opportunities, as events that have a beneficial impact on project performance". If uncertainty reflects the difference between the amount of knowledge to perform a task and the amount of knowledge available in the company, development managers can overcome this gap by increasing available knowledge through multiple means, such as empirical experience, recruitment of new expertise, or processing of information in different ways. From this perspective, collecting enough information during the go/no-go stages until rational decisions can be made will reduce the level of uncertainty. For example, research has recommended increased communication between departments, specifically research and development and marketing, or even improvements in the company0s information systems to gather, process, and structure the information
Many scholars define new product development as an uncertainty reduction process. Because uncertainty can lead to both positive and negative outcomes, refinements in this initial definition are required for application to project management. Perminova et al. defined "uncertainty as a context for risks as events having a negative impact on the project0s outcomes, or opportunities, as events that have a beneficial impact on project performance". If uncertainty reflects the difference between the amount of knowledge to perform a task and the amount of knowledge available in the company, development managers can overcome this gap by increasing available knowledge through multiple means, such as empirical experience, recruitment of new expertise, or processing of information in different ways. From this perspective, collecting enough information during the go/no-go stages until rational decisions can be made will reduce the level of uncertainty. For example, research has recommended increased communication between departments, specifically research and development and marketing, or even improvements in the company0s information systems to gather, process, and structure the information
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