Managing Technological Innovation: Competitive Advantage From Change by Frederick Betz

Author:Frederick Betz [Betz, Frederick]
Language: eng
Format: epub, mobi
Tags: General, Business & Economics, Technology & Engineering, Research; Industrial - Management, Research; Industrial, Technological Innovations - Management, Management, Industrial Management, Industrial Technology, Technological Innovations
ISBN: 9780470547823
Google: EVHxcjeHqjUC
Amazon: 0470547820
Publisher: John Wiley and Sons
Published: 2011-02-22T08:00:00+00:00

INNOVATION STRATEGY —

TECHNICAL PROGRAMS

In an R & D laboratory, there are many projects, and a formal process for formulating, selecting, monitoring, and evaluating projects is usually established (Costello 1983).

Senior management sets research priorities and business directions. Technical managers then define project requirements around which they and technical staff generate research ideas. Technical staff draft R & D proposals that are sent to middle and senior technical management, who select which projects to fund. Periodic reviews of project portfolios by senior technical management result in selecting or terminating projects.

Projects within a program are compared on their technical merit and commercial potential according the selection criteria of the program. There has been a long history of attempts to provide quantitative models for doing this, and they have been called formal models for project selection. Periodically, there are reviews of this topic. For example, in 1994, Robert L. Schmidt and James R. Freeland reviewed progress in formal R & D project selection models (Schmidt and Freeland 1994).

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