ACADEMIC AREA Technology and Operations Management AREAS OF EXPERTISE Innovation, New Product Development, R&D, R&D Portfolio Management, Organization Design and Incentives, Complex Adaptive Systems BiographyPublicationsCoursesCase Studies Education: B.S., Johns Hopkins University; MBA, MS, University of Miami; Ph.D., Georgia Institute of TechnologyRaul Chao is a Professor of Business Administration at the Darden School of Business, where he teaches operations management, innovation and new product development courses. Raul's research is focused on helping entrepreneurial ventures and established companies manage innovation and new product development processes. Raul serves as an advisor to numerous early-stage ventures. He recently co-founded and sold Lumi Juice, a beverage startup in the organic cold-pressed juice market. Much of Raul's research and teaching is based on fieldwork and case studies conducted at companies such as 3M, Microsoft, Whirlpool and Lockheed Martin, among others.Prior to joining the Darden faculty, Raul worked as a management consultant serving U.S. and Latin American organizations in a wide range of industries including pharmaceutical, biomedical, healthcare, financial services, hospitality and media. He earned his B.S. in Chemical Engineering from Johns Hopkins University and his Ph.D. in Operations Management from the Georgia Institute of Technology. He lives in Charlottesville, Virginia with his wife Cristina and their children, Carolina, Tomas and Nicolas.Peer Reviewed PublicationsChao, Raul, Kenneth C. Lichtendahl, Jr. and Yael Grushka-Cockayne. "Incentives in a Stage-Gate Process," Production and Operations Management, August 2014, Vol 23, No 8, 1286 - 1298.Hutchison-Krupat, Jeremy and Raul Chao. "Tolerance for Failure and Incentives for Collaborative Innovation," Production and Operations Management, August 2014, Vol 23, No 8, 1265-1285.Chao, Raul and S. Kavadias. "R&D Intensity and the New Product Development Portfolio", IEEE Transactions on Engineering Management, Vol. 60, No. 4, p. 664. 2013.Lichtendahl, K., Chao, R. and Bodily, S. (2012), " Habit Formation from Correlation Aversion," Operations Research, Vol. 60, No. 3, p. 625-637.Chao, R., Kavadias, S. and Gaimon, C. (2009)," Revenue Driven Resource Allocation: Funding Authority, Incentives, and NPD Portfolio Management," Management Science, Vol. 55, No. 9, p 1556-1569 .Chao, R. and Kavadias, S. (2008), " A Theoretical Framework for Managing the NPD Portfolio: When and How to Use Strategic Buckets," Management Science, Vol. 54, No. 5, p. 907-921.Working PapersChao, R. and Erat, S. (2012), "Competition and Effort in Contests with Evaluation Uncertainty," Darden School of Business working paper, invited to revise and resubmit for Management Science.Bendoly, E. and Chao, R.(2013), "Stage Time Reduction in NPD Cycles: Context Specific Impacts on Market Gains and Strategic Caveats," Goizueta School of Business Working Paper, invited to revise and resubmit for Production and Operations Management.Oyama, K., Learmonth, G., and Chao, R.(2012), "Applying Complexity Science to New Product Development: Modeling Considerations and Implications," UVA Systems Engineering Working Paper, under review at Journal of Engineering Technology Management.Chao, R., Lipson, M. and Loutskina, E. (2012), "Financial Distress and Risky Innovation," Darden School of Business Working Paper.Chao, R., Lipson, M. and E. Loutskina (2012), " How Organizational Complexity Impacts R&D Portfolio Decisions and Technological Search Distance," Darden School of Business working paper.Oyama, K., Learmonth, G., and Chao, R.(2013), "Modeling Co-evolutionary Dynamics in New Product Development," UVA Systems Engineering Working Paper.Other PublicationsChao, R.(2012) " Lockheed Martin's Innovation Via Strategic Buckets," The Washington Post, 21 July 2012.Chao, R.(2012) " The Ins and Outs of Open Innovation," Forbes, 7 May 2012. Reprinted with permission on crowdsourcing.org and Darden Business Publishing. Named one of the "top ten" articles on open innovation for 2012 by Open Innovation Community.Chao, R.(2012) " To Scale Up a Start-Up Business, Focus on Internal Operations," The Washington Post, 12 March 2012.Chao, R.(2011) " Why Grassroots Innovation Hasn't Worked at Microsoft," The Washington Post, 15 May 2011.Kavadias, S. and Chao, R.(2008) "Resource Allocation and NPD Portfolio Management," in Handbook of New Product Development Management, C. Loch and S. Kavadias (eds.), Elsevier Press, Oxford UK, p. 135-163.Chao, R. and Kavadias, S. (2004) "Strategic NPD Portfolio Management in Complex Environments," in Operations Management as a Change Agent, L. Van Wassenhove, A. De Meyer, et al. (eds.), INSEAD Press, Fontainebleau France, p. 701-710.Basole, R. and Chao, R.(2004) "Location-Based Mobile Decision Support Systems and Their Effect on User Performance," Proceedings of the Tenth Americas Conference on Information Systems (AMCIS), N. Romano et al. (eds.), Association for Information Systems (AIS) Publishers, New York, p. 2870-2874.Research in Progress"Sourcing Services in an Emerging Technology Environment""How Competition Impacts Creativity," joint work with S. Erat"Grassroots Innovation Processes""Aggregating Bounded Rationality in R&D""Old Habits Die Hard: A Model of Innovation Culture and Routines"MBA CoursesOperations Management (MBA Core) Developing New Products and Services General Management and Operations ConsultingAdvancing knowledge through research that shapes business, Darden professors are recognized thought leaders in their fields. They are not only master case method teachers, they also author many of the cases used in Darden classrooms and around the world.Raul O. Chao's cases are available in the Darden Business Publishing website.