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A paper by Marcel Dissel, Rob Phaal, Clare Farrukh and David Probert
published in Research-Technology Management, Volume 52, Number 6, November-December 2009 , pp. 45-53(9)
Here's a systematic approach to supporting early-stage technology investment decisions:
28 December 2009
Value roadmapping is a technique developed by the University of Cambridge and used in numerous industries in order to make sound investment decisions for early stage technologies. The technique is described in an article published in the November-December issue of the prestigous journal Research-Technology Management.
Technology managers have a wide range of methods and tools at their disposal for deciding whether to invest in early-stage technologies. However, these techniques are mostly focused on quantitative measures such as discounted cash flow and real options techniques, and in the early, uncertain stages of technology development they lack accuracy.
By adopting a qualitative approach called value roadmapping, the potential future value streams for early-stage technologies can be explored and hence a clearer consensus-based picture of the future potential of new technologies derived.
The VRM method is a workshop-based process that brings together cross-functional perspectives and supporting communication, in particular between technical and commercial groups. The technique has been developed and tested in seven cases in both large technology-intensive companies and research-driven SMEs and institutes.
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