Project management evaluation techniques for research and development

a high-tech version of the old shell game

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 management 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.
member content locked

Log in or join PMI to gain access

or Join

Advertisement

Advertisement

Related Content

  • PM Network

    Artificial Exterminators member content locked

    By Ali, Ambreen Billions of lines of code are written each year, with many applications built on open-source code shared widely among developers. Therein lies a problem: A single error can ripple into thousands of…

  • PM Network

    The AR Arms Race member content locked

    Augmented reality (AR) will soon be part of the U.S. military's arsenal. In a US$480 million contract, Microsoft has been tapped to deliver customized HoloLens headsets. Yet grabbing these headsets…

  • PM Network

    Going Up member content locked

    The SkyRise vertical amusement park is fraught with design and construction challenges. But before the project team could turn to those, the plans first had to clear the courtroom. Initially…

  • PM Network

    Digital Pulse member content locked

    In the healthcare arena, doctors, patients and project sponsors are all clamoring for more digital therapies and connected devices. That makes this trend a project hot spot this year, according to a…

  • PM Network

    Going with the Wind member content locked

    By Fister Gale, Sarah Offshore wind projects have long been plagued by high technology and connectivity costs, making initiatives all but impossible without government subsidies. "But in the last few years, we've seen a…

Advertisement

Publishing or acceptance of an advertisement is neither a guarantee nor endorsement of the advertiser's product or service. View advertising policy.