How to establish a research and development budget and strategy.
Put actionable steps into your research and development (R&D) plans to ensure the business can report back on progress, setbacks and successes. Graffeo & Associates has established the Performance Trilogy, which provides seven specific steps to building a winning R&D strategy. It begins with self-assessment, focusing on the company’s strengths and weaknesses. Step two focuses on competitor analysis, while step three looks at client feedback. Technology trends and market analysis are steps four and five, while step six examines stakeholder requirements. The final step is strategy synthesis, whereby the data and information in steps one-six are collected and synthesised into actionable intelligence.