R&D investment execution
Improving efficiency and effectiveness
R&D investments are critical, but outcomes are often unpredictable
In the quest for innovation and competitive advantage, the primary enabler is R&D spending. Even the most efficient operations-oriented enterprises realize that cost reduction has its limits and must be balanced by the need for new products, services and innovative ways of working.
Evidence suggests that the importance of R&D spending is continuing to grow even during difficult economic times. But while there may be increased levels of R&D spending across businesses, those investments too often fail to deliver the intended benefits.
Establishing a framework
Successful management of R&D spending for core and non-core investment is dependent upon a robust set of processes that are coordinated, integrated and measured.
This type of framework improves day-to-day management of the R&D investment portfolio while additionally establishing an ability to continuously improve the efficiency and effectiveness of these efforts.
Integrating the management of individual projects with management of the overall portfolio is a key foundational capability required for successful R&D investment execution.
Strategic planning, finance management, resource management, and business intelligence and analytics round out the capabilities required for successful R&D investment management.