Developing an Evaluation Framework for Early Stage Technologies A Case Study in the Aerospace Industry

Abstract

In today’s rapidly evolving business landscape, innovation and R&D activities are crucial for competitive advantage. Many firms struggle with their innovation performance and especially at the early decisions, which often decide the outcome. This thesis delves into the evaluation of early stage technologies at a tier 1 supplier in the aerospace industry, focusing on the Research & Technology division. Today’s evaluation process is generally effective, but fragmented and lacks a structured approach, clear tools, and a decision-making process. Through a case study approach, the thesis utilized a literature review, internal in terviews, and workshops. First, with data obtained from the literature review and interviews, the thesis investigated what criteria are necessary when evaluating early stage aerospace engine technologies. Secondly, drawing from the fields of New Prod uct Development, tools and methods were assessed and tested within Research & Technology through workshops. Lastly, based on the findings a systematic process was developed when evaluating early stage technologies. The research identified 22 criteria distributed within 4 overarching areas for a comprehensive evaluation. A modified scoring model was deemed the most relevant utilizing rating scales and which stimulates discussion. Evaluators conduct individual evaluations of the technology before being merged with all evaluations. If large deviations between the evaluators occur, discussions are launched. Further, to enhance flexibility the ability to assign weights were introduced as well as visual representations of technologies currently in the portfolio to maintain a balanced and strategically aligned portfolio. By utilizing the framework proposed in this thesis the company can incorporate a systematic way to assess early stage technologies individually and across the portfolio.