• A third generation new products process that permits overlapping phases or parallel processing results in more getting accomplished in a shorter span of time; streamlined evaluation tasks means that less time is wasted in evaluation.
• A portfolio management approach minimizes the chance that the firm's human and financial resources are spread too thinly over too many projects; better project selection focuses the firm's scarce resources and uses them more efficiently.
• A focus on quality at every phase complements the PIC; by following the adage " do it right the first time , " the firm will avoid unnecessary recycling.