Knowledge-salvage practices for dormant R&D projects
Most successful firms have an abundance of new and old knowledge in their research and development (R&D) laboratories, and only a fraction is being put into use in new product development. This knowledge is left over from projects, which have been killed at different development stages, and may actually carry considerable value. In this article, we propose a knowledge bank as a possible solution to preserve and possibly grow in this knowledge. It is a self-sustaining institute with minimal or no ongoing effort from the donor company, yet manages the knowledge in a way that projects proprietary interests and actively fosters communication and interchange among sponsoring companies wherever possible. The attributes of the knowledge bank offer the project organization the best change of preserving and possibly even growing the respective knowledge. The framework of this structure, as well as how it works, is described here.