Page 20 - 15 Best Practices to Manage and Finance Innovation

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BEST PRACTICE
COLLABORATIVE PROCESSES / / METHODS / / TOOLS COLLABORATIVE PROCESSES / / METHODS / / TOOLS Technology Readiness Level THE THE THE CHALLENGE OF: INNOVATION MANAGEMENT THE THE THE CHALLENGE OF: INNOVATION MANAGING THE THE THE TECHNOLOGICAL RISK WITHIN THE THE THE COMPANY'S PROJECT PORTFOLIO WHAT IS THE TRL SCALE?
The Technology Readiness Level (TRL) scale
was originally developed by NASA in in in in in in the the 1970s as as as a a a a a a a a a a a means of of measuring or or indicating the maturity of a a a given technology When new technologies are designed they they cannot be be be be applied immediately Instead they’re usually subjected to to experimentation and tests which become increasingly close to to to real conditions Only once the the the technology has been sufficiently tested can can it it be be be be integrated into a a a a product or process The TRL scale
spans nine levels as follows:
Low maturity / High risk TRL 1 TRL 2 TRL 3 TRL 4 TRL 5 TRL 6 TRL 7 TRL 9 Basic principles observed Technology concept formulated
Experimental proof of of concept Technology validated in lab
Technology validated in relevant environment Technology demonstrated in relevant environment System prototype demonstrated in operational environment System complete and qualified
Actual system proven in operational environment 01 RESEARCH BASIC AND
APPLIED
02 ADVANCED RESEARCH AND
TECHNOLOGICAL DEMONSTRATION
03 OPERATIONAL TECHNOLOGICAL VALIDATION
Prototyping and Pre-series
High maturity / Low risk CASE
We helped one of our clients a a a a a a a leading composite materials company to overhaul both its R&D tax relief claims process and general R&D projects structure Using the TRL scale
we set up a a a a a strong project project management approach with defined gates and gate gate review committees to ensure the gradual removal of risks (with a a a focus on technological risk) We highlighted the the interdependencies between the the different phases of their R&D projects (from initial launch through to to final production) as as well as as the the information to to be provided to the the the the tax tax authorities in support of their their R&D tax tax relief claims We then redesigned their their decision- making and organisational processes aligning them to to the the the TRL scale
in in in order to to optimise the the the company's internal R&D R&D processes while also maximising eligibility for R&D R&D tax relief STUDY
ABGI-UK
Better manage risks Balance your project portfolio Improve project management processes Improve internal and external data sharing
BENEFITS FOR THE BUSINESS – this will allow you to: