Project management evaluation techniques for research and development

Just as there are many types of project managers and many kinds of projects, there are numerous techniques for evaluating projects, none foolproof, none sure-fire, and all involving sophisticated processes for generating the most educated guess possible. This article examines a scientific-based formula that project professionals can use to evaluate research and development (R&D) projects. In doing so, it explains the purpose of evaluating projects and the challenge in evaluating R&D projects. It then outlines the evaluation formula, a mathematical equation that helps project managers create a communication bridge between research and development. It details the equation's three critical elements: procedures, data, and users. It discusses how this technique can help R&D professionals preserve both order amid change and change amid order--as well as anticipating changes in order--so as to improve their project performance.