CUED Publications database

Understanding and communicating the value of technology: A process perspective

Probert, D and Dissel, M and Farrukh, C and Mortara, L and Thorn, V and Phaal, R (2011) Understanding and communicating the value of technology: A process perspective. PICMET: Portland International Center for Management of Engineering and Technology, Proceedings.

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Abstract

Technological investment is an important driver of innovation and the evaluation of technology potential is becoming increasingly important in this context. Although there is a range of possible approaches and tools for understanding and communicating the value of technology to potential customers, not all are useful or accessible in practice, where the situation is often complex and constantly evolving. Although many companies have their own customised processes in place for securing approval for technology development, often combining several techniques, very few empirical studies have been performed to learn from these practices and provide an overall view of the process of ";selling"; technologies internally or externally. In this paper, the current literature and practice related to technology valuation is reviewed and summarised in a five step process for building a business case for technology investment that gives guidance on where and when to use specific valuation tools. The seller or proposer's perspective is taken and consultative sales techniques incorporated. This provides a flexible reference for R&D managers and adds to the body of literature on the selection and use of valuation tools. A user friendly guide has been published detailing the five step approach. © 2011 IEEE.

Item Type: Article
Subjects: UNSPECIFIED
Divisions: Div E > Strategy and Policy
Depositing User: Cron Job
Date Deposited: 07 Mar 2014 11:53
Last Modified: 27 Nov 2014 19:19
DOI: