Workshop 3: Assessing the resource-base and financial need


The students will return after approximately four weeks with a report on the business model, strategy and customer archetype for the project owner. In the third workshop we look at the resource requirements needed by the firm to implement the commercialisation process based on market feedback and assessment. A review of technical and commercial risk associated with the project is undertaken.


Cooper, R. G. (2011) Winning at new products: creating value through innovation. New York, Basic Books.

Cooper, R. G., and Edgett, S.J. (2005) Lean, Rapid and Profitable New Product Development. Canada, Product Development Institute.

Ries, E. (2011) The Lean Startup: How constant innovation creates radically successful businesses. New York, Portfolio-Penguin.

Lecture Notes

Workshop 3 Part A: From Discovery to Development

Workshop 3 Part B: Assessing Risk 

Module 3 VC Economics Template (EXCEL file)

Module 3 NPD Project Scorecard (EXCEL file)

Module 3 Project Strategic Buckets (EXCEL file)

Module 3 NPV Calculation Sheet (EXCEL file)

Module 3 NPV-IRR Calculator (EXCEL file)

Scanalyse Story Slideshow











Additional Readings

Albright, R. E. (2002) How to use roadmapping for global platform products, Product Development and Management Association

Albright, R. E. (2003) Roadmapping Convergence, Albright Strategy Group, LLC.

Albright, R. E. (2003) A Unifying Architecture for Roadmaps Frames a Value Scorecard, IEEE International Engineering Management Conference, 2-4 November, Albany N.Y.

Berkhout, A. J., Hartmann, D., Van Der Duin, P., and Ortt, R. (2006) "Innovating the Innovation Process," International Journal of Technology Management34(3/4): 390-404. 

Blaydon, C., Keogh, W., and Evans, G. (1999) "Managerial Skills Development in R&D Based NTBFs: Assisting Managers to Manage," International Journal of Entrepreneurial Behaviour & Research 5(4): 173-190. 

Chan Kim, W., and Mauborgne, R. (2000) "Knowing a Winning Business Idea When You See One," Harvard Business Review 78(5): 129-138. 

Cooper, R. G., and E.J. Kleinschmidt (1995) "Benchmarking the firm’s critical success factors in new product development." Journal of Product Innovation Management 12(5): 374-391. 

Davis, C. R. (2002). "Calculated Risk: A framework for Evaluating Product Development." MIT Sloan Management Review 43(4): 71-77. 

Ernst, H. (2002) "Success Factors of New Product Development: A Review of the Empirical Literature," International Journal of Management Reviews 4(1): 1-40. 

Fisher, G. (2012) "Effectuation, causation, and bricolage: a behavioral comparison of emerging theories in entrepreneurship research," Entrepreneurship: Theory and Practice 36(5): 1019-1051. 

Lichtenthaler, U. (2008) "Integrated Roadmaps for Open Innovation", Research Technology Management 51(3): 45-49.

Miller, W. (2001) "Innovation for Business Growth," Research Technology Management 44(5): 26-41. 

Steffens, P., and Douglas, E. (2004) Use Real Options but Not Real Options Analysis when Valuing New Technological Ventures. 17th Annual SEAANZ Conference - Entrepreneurship the Way of the Future, 26-29 Brisbane, Small Enterprise Association of Australia and New Zealand. 

Yahaya, S.-Y., and  Abu-Bakar, Nooh. (2007) "New product development management issues and decision-making approaches," Management Decision 45(7): 1123-1142.