Foresight-Hindsight in Materials Science and Engineering _Project Portfolio Management

Following my last post “ Selection Criteria for Research Project Funding,” 8 Sept. 2011, let us continue our “Foresight –Hindsight” (marketing) exercise using a short presentation using a modified BCG matrix (4 squares)or  GE/McKinsey matrix(9 squares) chart

The chart which I wish to draw to the attention of my metallurgical and materials scientist friends,  members of  The Institute was originally published in Materials World    and archived in my personal files for more than a decade.  Cf. Image 1 below.   It is a nine square GE/McKinsey matrix.

-Areas of Attractiveness are represented by 3 colums- (vertical axis):  1. Emerging,2. Intermediate and 3. Key priority areas, of increasing attractiveness 1 to 3.

-Areas of Feasibility are represented by position on the horizontal axis :  increasing feasibility from left to right.

Within this matrix the upper most right hand square is magnified and again divided into another 9 square matrix, “Attractiveness versus Feasibility”.  Such a process both shows how this approach can be usefully refined while pragmatically bringing focus to the necessary couple, Key Priorities which are Feasible.  Clear objectives can be given and so motivation increased.  The challenges of the research for excellence are respected and the likelihood of impact in appropriate areas increased.

The presentation allows the representation of 9 blocks IE GE/McKinsey presentation.

The arc through the intermediate and emerging  themes draws attention to the fact that the most-attractive and desireable does not always correspond to the most feasible.

Many of the themes presented in the previous post "Selection Criteria for Research Funding" EPSRC 2010 - 2013 have previously figured in the BCG - GE/McKinsey Matrix approach established at least a decade earlier (Image 1) An attempt to show this continuing preoccupation with certain themes is shown in the table below in bold characters. One reason for this is the wide nature of themes cf previous post headings:

THREE WIDE FOCUS THEMES TO IMPACT UPON.

THREE STRATEGIC GOALS.

SIX GLOBAL RESEARCH CHALLENGES to be ADDRESSED

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KEY PRIORITY AREAS	Health & Life Style	Optical Tech.	Genetic & Biomolecular Eng., Bioinformatics, Communication with machines, Telerepresentation/ multimedia, Sensors & sensory information processing, Software Eng., Security & privacy tech
INTER- MEDIATE AREAS	Risk assessment & management, Design & Systems Integration, Chemical & Biological Synthesis,	Information Management, Modelling & Simulation, Catalysis, Work place & Home.	Management & Business                                    Process Eng.,   Environmentally     sustainable tech.
EMERGING AREAS	Demographic change, clean processing tech, Energy Tech, LCA,  Automation.		Biomaterials, Materials Process & Control, Materials processing tech.

                                 Feasibility---------------------->

RELATED POSTS
1. Selection Criteria for Research Project Funding 8 Sept. 20112..
2.Critical Minerals and Metals Defined  12 April 2011.

REFERENCES – EBOOKS on Forsight and Portfolio Management

1.      GE/McKinsey matrix(9 squares) chart
2. Portfolio Management: Fundamental for New Product Success  [pdf]

by Dr. Robert G. Cooper, Dr. Scott J. Edgett and Dr. Elko J. Kleinschmidt,
Reference Paper #12

Compliments of: Stage-Gate International and Product Development Institute Inc

3. Idea Evaluation [pdf]

4. Foresight Projects are in-depth studies examining major issues 20-80 years in the future.

5. Selection of research priorities – method of critical technologies by Karel Klusacek [pdf]
Technology Centre of the Academy of Sciences CR Rozvojova 135, 165 02 Prague 6, Czech Republic

6. Crafting a methodology for formation of R and D strategy based on evolutionary epistemology: case study of Iran power industry [pdf]

7. Priority Systems: Technical Terms Used in Project Portfolio Management

8. MIND TOOLS

9. Stakeholder Identification and Analysis Techniques, John M. Bryson, Hubert H. Humphrey Institute of Public Affairs, 245 Humphrey Center, University of Minnesota [pdf].

NB WARNING TO THE R&D Communities

OUTSOURCING !!!