Investing in innovative technologies can provide great returns to a business through new introductions of products and/or by establishing new markets. However, these projects are often difficult to execute and carry greater and different risks than their standard technology counterparts.
IPA research has identified a set of practices and strategies that have been shown to mitigate the risks associated with commercializing innovated technologies, whether it is a small improvement to a new technology or an entirely new process technology. IPA’s New Technology Planning Workshop is a highly tailored engagement that will present and discuss these Best Practices and strategies to help project teams deal with the difficulties involved in new technology projects.
These presentations and discussions will be determined by many factors, including the technological difficulty, the level of new technology used, the status of the development of the technology, the scope of the project (pilot plant or full-scale commercialization plant), the experience of the project team and company with capital projects, etc. Research based on specific topics identified by IPA and the project team as areas of interests will also be included.
A typical New Technology Planning Workshop is held over 1 to 3 days, but the length of the engagement is dependant on the team’s needs and availability. The workshops are a combination of lecture and facilitated discussions about new technology projects.
New Technology Planning Workshops help educate project teams on the Best Practices and strategies for executing new technology projects and also will help the project team identify the ideal path forward to commercial success.
Specifically, the workshops will give project teams:
The earlier in the project life cycle the workshop is held, the more benefits there are to be gained.
Prior to the engagement, IPA will hold an interview with the project manager to understand the specific needs and concerns of the project team. As part of this dialog, the project manager will share any available project information (project objectives, project execution plan, etc.). This discussion will allow IPA to customize the workshop to include project specific-facilitated discussions for various areas of interest to the project team and new technology research presentations. If necessary, the workshop will also include a detailed walkthrough of IPA’s Front-End Loading (FEL) roadmap.
The deliverables from the workshop are tailored based on the project team’s needs and the information presented. This could include a written summary of the cost, schedule, and operability benchmarks, the issues and risks identified during the workshop, and relevant IPA research and recommendations to ensure successful commercialization. IPA will also deliver a separate briefing to the project team (and/or management) if requested.