ALIGNING R&D PROJECT PORTFOLIOS WITH THE ORGANIZATION S BUSINESS STRATEGY

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1 ALIGNING R&D PROJECT PORTFOLIOS WITH THE ORGANIZATION S BUSINESS STRATEGY Dr. Hugo Patiño The industrial research community has seen research management practices evolve in four stages. The first generation of this evolution was the strategy of hope. Research goals that had no explicit link to the business strategy were generated. In the second generation, companies followed a rational approach to properly justify their need for deploying research resources on a project-by-project basis. The third generation was founded on a holistic strategic approach. Here, a research project portfolio was balanced in order to address specific corporate needs. 1 This balancing involved an analysis that assessed the project portfolios for their short-term versus long-term impact, their risk level, and their alignment versus the corporation s strategies. Finally, a fourth generation, which involves expeditionary marketing and participation in the design process by the people who will use a new system was recently described. 2 Here, the customers think of a supplier s research as being their own research. A recently completed survey of the Industrial Research Institute on Integrated Technology and Business Planning reveals that a majority of technology planners who participated in the survey were in a responsive mode (i.e., these technology planners were not equal partners with the business planners). The research planning done by the various companies that were surveyed, however, clearly showed how the results of technology contributed to the success of the business. As measured by Robert Szakonyi, measuring the effectiveness of research and development (R&D) involves assessing the following 10 R&D activities: 3 Selecting R&D projects. Planning and managing projects. HUGO PATIÑO, PhD, is vice president of research and development at Coors Brewing Company in Golden CO.

2 Generating new product ideas. Improving the quality of R&D processes and methods. Motivating technical people. Establishing cross-disciplinary teams. Coordinating R&D and the marketing department. Transferring technology to manufacturing. Fostering the collaboration of R&D and the finance department. Linking R&D to business planning. The successful alignment of R&D s project portfolio with the organization s business strategy requires high quality performance in each of these 10 activities. R&D STRATEGY AT COORS The key R&D strategy at Coors Brewing Company, the third largest U.S. brewery and the eleventh largest in the world, is to have profitable growth through the company s current and new products being sold in current and new markets while reducing costs and improving quality and value to the consumer. Coors s total annual budget for research spending is approximately $12 million, which represents about 0.7% of annual net sales. This expenditure is within the typical range of research spending for the food and beverage industry (i.e., 0.5 to 2.2%) and is within the following range of spending found by a recent survey of the Industrial Research Institute for the Food and Kindred Products segment: Type of Research Average (%) Std. Dev. (%) Basic research Applied research Product development Process development Technical service The current research, development, and quality assurance organization at Coors is centralized and resides within the operations and technology organization. Research, development, and quality assurance is a part of the structure in each of the following six functional groups : Conceptual and sensory R&D. Brewing R&D. Packaging R&D. Quality assurance. Research analytical laboratories. International brewing.

3 COORS S R&D PROCESS At Coors, project planning for each of the six functional groups is centralized. Coors s R&D projects fall under one of the following four major categories: Project quality improvement. Productivity improvement. New product/market development. Exploratory R&D. A few subcategories exist within some of these four major categories. Clearly, one project category can support more than one of the company s business strategies. Product quality improvement projects, for example, can support profitably growing existing products. These projects may simultaneously result in reduced production costs as well as increased value to consumers. Research projects are classified into only one of the four major categories. That category is the project s primary driver, but projects can also have secondary drivers and benefits that are recognized during the project s evaluation. An overview of this process is illustrated in Exhibit 1. Each of the steps in this process is discussed in the following sections. Idea Generation Functional groups are responsible for overseeing the idea-generation process. Idea generation is built into the accountabilities of researchers and their management. Functional areas generate ideas that are primarily to be researched in their own area. However, they can also generate ideas that would be executed by another functional area. In that case, these ideas are communicated to the corresponding function for evaluation (e.g., brewing researchers can generate packaging ideas that are then communicated to packaging R&D for evaluation). Generation of ideas proceeds in different ways depending on the project category. For example, new product concept ideation with consumer involvement is one of the methods used for the new product and exploratory categories. In all categories, representatives from key areas in the company (e.g., marketing, sales, finance, engineering, and operations) must be involved. Each functional group completes documentation, prescreening, and evaluation for all the project ideas that would be executed in their area. Idea Evaluation The project leader submits the initial evaluation of the project, and it is then reviewed by the area management and the finance organization. All functional groups within each of the four project categories (product quality improvement, productivity improvement projects, new product/market development projects, and exploratory projects) use the same criteria. The four project categories, however, use different criteria:

4 Exhibit 1 Process Overview Criteria for the evaluation of product quality improvement projects. - Quality of consumer data. - Criticality of consumer, retailer, or wholesaler concern. - Potential for increased sales or revenue. - Concurrent impact on productivity.

5 Criteria for the evaluation of productivity improvement projects. - Quality of the cost data. - Impact on productivity. - Potential for increased capacity/capital avoidance. - Concurrent impact on product quality, safety, or environment. Criteria for the evaluation of new product/market development projects. - Fit to concept strategy and priority. - Quality of consumer and market data. - Potential growth and profitability. - Uniqueness/protection/difficulty to duplicate. Criteria for the evaluation of exploratory projects. - Impact on product portfolio (differentiation). - Ownership/exclusivity. - Cost, profitability, capacity utilization impact. - Potential of knowledge generated that has an impact on product quality. Weights are used for each of these items. Category Review Teams Multifunctional teams are formed annually to evaluate each project category. Membership of these teams includes representatives from marketing, sales, operations, engineering, finance, international operations, and other departments as needed. All projects in one category (e.g., product quality improvement) are consolidated from the respective project lists in each functional group into a master list for that category. Ratings that the originating department provides are used to force rank the projects. Normalized scores that account for the rating distribution given within a functional area are also used if needed. Documentation providing project information is given to team members ahead of the meetings. Issues surrounding project goals, expected benefits, project milestones, and fit to the company s objectives are discussed. The team s output consists of a reprioritized project list with a proposed cutline that represents the minimum effort recommended. Multidimensional Data Analysis Next, the data analysis for project portfolios that would be originated under different scenarios is undertaken by all departments. The analysis includes a breakdown of the projects into: High, medium, and low risk. Short, medium, and long term. Low, medium, and high impact.

6 This analysis is done within and across categories. It is applied to the project list in total and to the project list above the recommended cutlines, to ensure that funding did not go primarily to low-risk, longer-term projects, leaving, for example, longer-term, higher-risk projects below the cutoff lines. This process reveals, in hindsight, any biases. Learnings and implications of the statistics produced by this analysis, as well as the balance of the portfolio across categories and what if scenarios of different funding levels, are discussed prior to the analysis s presentation to and discussion by senior management. Senior Review Team Prior to its implementation, an overview of the process is presented for senior management input. The senior review team consists of the chief operating officer and senior management of key functions, including operations and technology, finance, marketing, sales, and corporate development. Executive summaries of the data generated and its implications are reviewed, along with benchmarking data. The thrust of the meetings revolves around portfolio balance, investment levels, shifts in direction or areas of emphasis, and staffing. OBSERVATIONS AND CONCLUSIONS The involvement of research personnel in this process provides a great opportunity to increase the research organization s perspective on the company s business as well as R&D s role on addressing business issues. It is also a very good opportunity to increase an awareness of R&D s role in key areas of the company. The finance organization is a critical participant in the evaluation process. It has been a partner in the development and the execution of the system and provides an external assurance to R&D that R&D resources will address corporate needs and objectives. The finance organization is a common thread to the evaluation of the company s resources of other initiatives and investments. The marketing organization s role is equally important. It is a partner in the idea generation and evaluation processes, not only in the area of new products but also in other areas (e.g., product quality improvement). R&D and marketing work to ensure a seamless integration of the product-toconcept fit through the use of multifunctional teams. These two organizations are also key sponsors that constantly challenge R&D to jointly develop creative solutions to consumers needs. Coors s operations and engineering counterparts are critical links. They contribute ideas in all project categories that originate from a very different and realistic perspective. They provide a very important sense of priority and potential impact of the various projects. They also provide invaluable creativity that makes the implementation of these ideas a reality. Clearly, as with all processes, the principles of total quality management 4 and therefore continuous improvement need to be present in this process. In particular:

7 The company needs to continue to refine the validity and objectivity of the criteria and evaluations, while maintaining a balance to ensure simplicity of the process. The company must ensure that results are measured and compared with the original project plans, and that accountability and reward follow by incorporating these results into each person s performance goals. The results of the portfolio planning should be used to perform an analysis of the core competencies required to meet the project portfolio s needs. Training and staffing plans should be formalized to address any gaps that have developed. The company must ensure that longer-term R&D is championed within the R&D organization as well as with the other key areas of the organization and with senior management. R&D management should fully use this process and its results to explain to the R&D organization and other key areas of the company the explicit linkage of the R&D projects and the business strategies. The process should be documented using an international quality system standard called an ISO 9004 approach, and the quality of its execution should be incorporated into the performance expectations of R&D management. A review session with people who are involved in the process should be conducted. At this session, improvement ideas should be asked for, and they should be incorporated into the next cycle. Investment in R&D is the key to a company s success. This investment, however, competes against many other investments that the company needs to make. It is R&D management s role to ensure that this investment is well focused and in alignment with the company s goals. This is not an endeavor that R&D should execute in a vacuum. A well-designed and executed system is not only a critical means for R&D to be a good steward of the company s resources, it is also a rewarding business experience. Acknowledgments The author wishes to thank Mick Bagrosky, Dick Bryant, Del Gallegos, Marty Jacobson, Melodie Mallory, Rob Maruyama, Linda Smith, Dave Thomas, and Katy Word for their many contributions in the development of the system. Thank you also to senior management at Coors for the opportunity of presenting this work. Notes 1. P.A. Roussel, Third Generation R&D (Boston, MA: Arthur D. Little, Inc., 1991). 2. W.L. Miller, A Broader Mission for R&D, Research Technology Management (November-December 1995), pp R. Szakonyi, Measuring R&D Effectiveness II, Research Technology Management (May-June 1994), pp G.C. McLaughlin, Total Quality in Research and Development (St. Lucie Press, 1995),

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