Jump Start Program

Establish clear and measurable R&D project goals and objectives. Be clear to distinguish between the overall project goals and the technical objectives necessary to achieve them and determine how you will know the project is progressing or has been successful.    

Establish the scope of the project. For example, are you developing a prototype, minimally viable product, full commercial product, etc. Just as importantly, identify what is outside the scope of the project.  

You will have limited resources, so it is crucial to keep them on track and to deploy them in areas directly related to what you are trying to achieve.To monitor this incorporate periodic project reviews to evaluate your progress. 

An R&D project plan should make it clear what needs to be done and by who. You should also establish who is accountable and who will report to and who.  

Establish development activities as clearly as possible, with estimates noted about the required resources, duration and sequence.  

If applicable, segregate the project into Development Phases, identifying when the completion of a specific phase can lead to the initial commercialization of your product and/or services   

Be sure not to underestimate the magnitude of effort required by respecting the level of uncertainty and incorporating sufficient time for unexpected problem solving.  

Determine how you will practically and consistently communicate with your development team and other stakeholders.  

Determine how frequently this will happen.  

Determine where and how Research and Development activities and information will be recorded. 

To the best of your ability determine the potential risks and uncertainties you may encounter during development that may delay the project or stand in the way of success.  

Alongside these, ascertain potential actions or solutions that may be implemented to mitigate these risks or resolve these uncertainties.  

Create a “Risk Log” that can be reviewed and updated during project reviews. 

Although it can be difficult during the early stages of planning, it is imperative to establish a reasonable cost base for your R&D, that reflects its true costs and efforts, recognizing that the path to the final solution will be met by several obstacles.   

Once a reasonable cost base is established determine how you will fund your Research and Development.  

Will it be funded internally?  

Will you seek investment?  

Will you seek government funding?  

Will it be part of a commercial job? 

Will it be a combination of any or all the above?