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ChemQuest TechValuSM
Extracting Value and Growth from R&D
Are you spending your money on the right R&D? Will your R&D
investment yield the profit growth objectives of your enterprise in the next 3-5
years? We can provide you with an external, unbiased assessment of
where to spend your technical resources most profitably.
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TechValuSM will demystify your R&D process. ChemQuest TechValuSM is a proven process that will extract
the maximum value and lower the risk of your investment in R&D by
aligning your projects with your corporate growth initiatives.
Particular emphasis is given to incorporating the voice of your
customers, not only to understand the product requirements, but also
the total economic equation. In addition, the process considers the
sustainability of profit through a thorough evaluation of your
competitive position. Since the TechValuSM
process requires input and discussion across all business functions,
the resulting focused prioritization of projects builds energized
teams with real time communication
tools to monitor the success path. |
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The ChemQuest
TechValuSM
process involves an analysis of each business, business segment and project
using a proprietary scoring model that evaluates a number of proven critical
success factors. These will include the client’s own financial metrics. This
process ensures that all evaluations are based on the same uniform set of
criteria and provides the alignment that allows portfolio management across all
business units. A strategic technology plan is developed, as a result, that
takes into account business opportunities that lie both within the current core
and in potential new growth areas. The ChemQuest TechValuSM
analysis also provides input to the development of the appropriate business
model.
The results are not simply a
snapshot of today, but measure real time R&D impact
for business teams at multiple levels. No more 3 year plans that are filed and
forgotten. Both the CEO and the R&D head will now have a daily dashboard
insight as to where to most profitably spend their time.
ChemQuest will facilitate all
analyses and provide an independent assessment of
growth opportunities based on primary research. This gives an additional,
external, validation to the decisions taken on the basis of the internal
evaluation and helps mitigate the risk inherent in portfolio management.
TechValu and Six Sigma
In their book, The Six Sigma Way, Pande,
Neuman and Cavanagh describe Six Sigma as:
“A comprehensive
and flexible system for achieving, sustaining and maximizing business
success. Six Sigma is uniquely driven by close understanding of
customer needs, disciplined use of facts, data, statistical analysis and
diligent attention to managing, improving and reinventing business
processes.”
Put
another way, Six Sigma is a business system for achieving and sustaining
success through customer focus, process management and improvement, and
the wise use of facts and data. This description also fits our Profitable
Growth Program, of which TechValu is an integral part, and in this sense
it fits very well with the spirit of Six Sigma.
The Six Sigma process
for business development is Design for Six Sigma (DFSS) which is a
five-step process (Identify, Define, Develop, Optimize and Verify = IDDOV).
The DFSS tools can also be used with any product innovation process.
TechValu
has been developed to improve the output and value of product innovation.
It uses a scoring model based on a number of well-recognized business
success factors in addition to financial factors. This model provides a
convenient tool for project selection, portfolio management and the
strategic alignment of projects. DFSS tools can be used with TechValu to
provide much of the data needed for the scoring model.
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