Management of RandD and Innovation Processes

Course Description

This course presents specific system concepts, methodologies, and tools to strategically plan technology developments, to effectively manage core competencies, and to integrate these technologies into existing or future products in order to remain competitive in the world economy. It involves the Research and Development (R&D) manager in the strategic development process used in the front end of the business to provide future survival and growth for the organization as the lifecycle of existing products and/or services matures to obsolescence. Also introduced are the techniques used to stimulate and manage innovation in the workplace. Students will begin to develop a master's project, which will be presented in the final specialization course.

Topics and Objectives

Evaluating the Role of Technology within an Organization

• Identify internal and external applications of technology.
• Evaluate the relationship between change and innovation.
• Evaluate the role of technology in innovation.

Research and Development Management

• Construct a technology Road Map and explain the importance of road mapping.
• Analyze the role of basic (quantitative) and applied (strategic) research in innovation processes.
• Describe the stages of technology development.

Product Lifecycle Management-The Creation of Technology Products

• Evaluate the role of consumer input and data in product innovation.
• Explain how technology creation can help an organization maximize profit and revenue.
• Describe what a project review process entails.

Portfolio Management and Project Approval

• Explain the importance of aligning projects with organizational strategy and goals.
• Analyze the advantages and disadvantages of different project selection and prioritization processes.

Managing Technology Personnel

• Identify the skills and qualities of the New Technology Manager.
• Identify the challenges of hiring, rewarding, and retaining technical staff.
• Explain how organizational structures impact innovation processes.
• Recommend internal processes to encourage innovation and the exchange of ideas.

Technology Assessment

• Analyze the role of budgeting and resource allocation in the project approval process.
• Explain the importance of employing risk-management techniques in achieving a balanced portfolio.
• Evaluate the pros and cons of outsourcing pieces of the project.