Managing Product Development Using an Investment Management Framework

With a research, development, test, and evaluation (RDT&E) and acquisition budget of more than $130 billion, the Department of Defense manages the single largest product development investment in the world. The Air Force alone manages a product development budget of $49 billion in more than 500 major RDT&E, procurement, and sustainment programs. How does an organization manage a portfolio of investments of this magnitude to optimize value, balance resources, and ensure alignment with strategic objectives when the investments are distributed across multiple organizations, technologies, and systems? This challenge is one that spans many areas, from weapons systems to information technology to transformation initiatives.

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