Projects are making advancements in introducing services and products based on the latest technologies into the silver market. However, some projects have failed to deliver values or results, but some have succeeded.
WHY PROJECTS FAILS
No real passion (partners are not seriously trying to get it to work)
Wrong partner leading business/commercialization activities (commitment is important, the right organization for the role is needed)
Developing a "stand-alone business model" (lack of understanding links between business models and the dynamic nature of the marketplace)
Business models are not sustainable (prices are too high or costs are too high)
Not understanding institutional and market forces (regulatory issues or policy changes in countries, the speed of the technological advancement)
No real need for the product or service in the marketplace (confusing end-user needs and customer needs).
WHY PROJECT SUCCEEDS
At least one talented person and organization is very passionate about the business opportunity.
The project is aligned with the company's goals and strategy.
There is a proven demand in the marketplace.
The project is able to design attractive value propositions for key stakeholders.
The product is commercially viable.
Non-profit needs to cover costs
For-profit needs to make a profit.
Traditionally R&D joint projects are too slow and inflexible to be competitive with faster market players. The majority of projects start BUSINESS DEVELOPMENT too late and work in long iterations.
They often realize too late that the solution does not have commercial potential.
This 45-slide PowerPoint document introduce an Agile tool kit with innovation sprint that helps projects to increase the speed of business development and to re-focus resources on things that matter.
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Source: Best Practices in BMI, Value Proposition, Business Model Canvas PowerPoint Slides: Business Development In Projects - An Agile Toolkit PowerPoint (PPTX) Presentation Slide Deck, RadVector Consulting
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