During challenging economic times, companies no longer have the luxury of pursuing all possible technology routes and it is crucial for them to take a strategic view of their R&D portfolios if they are to achieve best-value-for-money development. Faced with similar challenges, Philips Medical asked us to help them develop an R&D portfolio and five year roadmap for one of its major businesses.
To help Philips MRI Systems optimise its portfolio, key stakeholders were brought together in workshops so that all understood and agreed on the difficult trade-offs that had to be made on aspects such as focusing on existing or new customers and cost reduction or product improvement. Project selection was driven by customer validated insights, to develop portfolios which are robust and achievable, addressing market, technical and organisational uncertainty.
Several alternative portfolios were roadmapped to optimise the trade-offs between resource requirements and revenue potential. A representative group of stakeholders selected an achievable portfolio which was visibly aligned with prioritised customer segments.
Cambridge Consultants’ technology portfolio creation process works backwards from expected future outcomes and desired product launches to put in place the right seed projects early on to fuel a productive innovation funnel.
“Most companies need to maximise the results they derive from limited development resources,” said Mr Wolleswinkel, Senior Director, Global Marketing of MRI Systems at Philips Healthcare. “Going through the Cambridge Consultants portfolio management process helped us link research and development projects directly to customer needs which gave a clear focus to our technology roadmap. It even led us to reposition an imminent product launch, which resulted in a very positive market response to our new multi-transmit technology.”