Project Definition:

RMI was asked to create a process to prioritize R&D projects and product development for a mid-sized multi-national with facilities in the US and China.

Approach:

There are always more ideas than money and resources can bring to market.  There can also be “pet projects” that become a source of contention between senior leaders.  RMI demonstrated its unique methods to measure revenue opportunity, quantify investment, identify fit and understand the technical approach to satisfying unmet market needs.

Deliverables:

A scoring system was used to compare all potential projects in an unbiased manner.  RMI’s tool was provided to evaluate competing priorities based on a predetermined criteria set by the client’s senior management team.  The tools have been used for all development projects since implementation.

Results:

We achieved a 58% ROI for R&D projects over 4 years measured by long-term contracts and product sales.  We couldn’t even measure ROI in the past due to lack of process.  Much improved over the old system!

R&D Manager