.png)
During these strange times of fluctuating markets, many executives are finding themselves asking their teams to tighten their proverbial belts. For whatever reason, budgets are being cut. With these budgetary decreases, department heads are now realizing their teams cannot handle all the projects they initially had intended. In this two-part blog series, Project prioritization during COVID-19, you will complete two thought exercises.
Part 1 - compromised project identification
Part 2 - compromised project prioritization
In Part 1, you will identify and write down R&D project names next to statements asking about today’s market relative to your company’s current situation. In Part 2, you will complete a deductive reasoning exercise. This exercise uses your work from Part 1 and prioritizes projects into a plan. This activity will help identify projects that have the least likelihood of succeeding due to the current circumstances.
Unique from basic technology transfer, the list of statements below follow the IP Flow thought process. At IP Flow I believe strongly that discoveries cannot effectively work for a company if you don’t always consider your company, the facility, and the employees within. Use the list by reading the statements and filling in the name of projects impacted. Projects can be written down next to more than one statement.
By completing the worksheet you have identified which projects are potentially at risk. But before you start pulling plugs I suggest you read on to Part 2, Project prioritization during COVID. In Part 2 you will take this work and using deductive reasoning to make a plan for each project. It may come as a surprise but not all projects will be appropriate to cancel.
