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December 2009 1
The Quotec Assessment Tool
History• 1980/90s - NEDC Innovation Toolkit• 2004 - Small Business Service – Investigating an Innovative
Idea/Assessing an Innovative idea Tool• 50 innovation tools/practitioners• Excel/VBA based tool
• Honed on• Due diligence on technical investments• Due diligence on business proposals/products• Technology Strategy developments
December 2009 2
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Key Elements of Assessment
Plans
Resources
Externals
December 2009 3
Assessment Outputs
Red – stop and rethink: major problem area
Amber – don’t go yet: fix minor problems first
Green – OK to go
December 2009 4
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Project Plan
Ideal scenario: The project is clearly defined with milestones and review points.
December 2009 5
Project Plan
Project Plan
There is a clear, concise statement of the project which can be understood by customers and stakeholders.
The plan is costed, with timelines and milestones and deliverables.
There are review points, with options to change direction if needed.
The technologies and practices which will be developed have been compared with those used by other businesses such as competitors and/or partners. (competitor analysis)
Industry standards have been/are being utilised to ensure compliance. (regulatory compliance)
December 2009 6
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Market
Ideal scenario: The market has been thoroughly researched and is accessible.
December 2009 7
Market
A realistic market need for the proposed product/service has been quantified.
The unique benefits of the product/service have been defined.
Potential customers or end users have been consulted (directly or indirectly).
Overall trends in the chosen market are well understood. Route to market is adequately researched and accessible. The regulatory requirements of the market are understood.
December 2009 8
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Strategic Fit
Ideal scenario: The project provides a good fit with the strategy of the business and the business is clear how it will maximise its benefit from the project.
December 2009 9
Strategic Fit
The project provides an essential contribution to the strategy of the business.
The appropriate steps have been taken, or identified, to protect the business benefit (including IP protection).
Any dependence of the project on other work currently underway in the business or its partner organisations has been identified and appropriately addressed in the risk assessment.
The new project will provide synergistic benefits with existing business.
Alternative options for investment have been assessed.
December 2009 10
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Human Resources
Ideal scenario: The human resources are in place and their skills are adequate/appropriate for the project.
December 2009 11
Human Resources
The skills needed have been defined. The people with the required skills are in place or are
earmarked and accessible. The people who will work on the project have adequate
time scheduled to deliver their required contribution. Senior management is involved and fully behind the project
(and is seen to be so), with the necessary skills for the role. A project manager with the required experience is in place.
December 2009 12
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Financial Resources
Ideal scenario: The business is financially sound and will be able to complete the project and its subsequent commercialisation without undue adverse impact on current income streams.
December 2009 13
Financial Resources
The business is financially sound. The finance available is adequate for the project (including
any new equipment which is required). Necessary contingencies have been allowed for. Adequate allowance has been made for any adverse impact
on income in existing operations. The necessary resources for commercialisation are in place
(or there is a clear and credible strategy for obtaining them).
December 2009 14
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Project Management
Ideal scenario: There is credible project management in place, which includes appropriate allowance for the complexity of the business.
December 2009 15
Project Management
A project manager is in place. There is a business/project/marketing plan with strategic
goals. The management structure is commensurate with the size
and complexity of the business/project. Any partnerships/strategic alliances needed are identified. The level of complexity of the work is clearly understood. Appropriate steps to deal with complexity have been
included in the business plan.
December 2009 16
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Competitive Position
Ideal scenario: Business and project are in a well understood and protected segment of market, able to withstand competitors' response.
December 2009 17
Competitive Position
The existing competition is well understood. The business has thought about their competitors'
responses to the new product/service and has taken the appropriate steps.
Potential new competitors have been identified. The business has thought about all forms of intellectual
property protection and established an appropriate plan for intellectual property arising from the project.
December 2009 18
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Environment
Ideal scenario: The project will have a positive impact on the wider business environment.
December 2009 19
Business Environment
Impact on the physical environment has been assessed. Social impact has been assessed. Fit with regional/national and international priorities for
action (and funding) has been assessed. Legal and political aspects have been considered.
December 2009 20
Project Plan
Market
Strategic Fit
People Finances Management
Competition
Environment
Risk
Risk
Ideal scenario: The risks and rewards have been carefully assessed and the business is comfortable with the levels of risk.
December 2009 21
Risk
Risks have been assessed and are understood. Strategies for minimising the risks are in place. The benefits are clear and justify the investment. The return on investment exceeds other possible risk
weighted investments. Key stakeholders understand the risks and are comfortable
with them. The size of the risk in relation to the overall business is
known.
December 2009 22
Environment Project Plan
Market
Risk
Human Resources
Financial Resources
Project Management
Strategic Fit
Competitive Position
Typical Tool Output
