1. Getting Your Project Approved Presented to MAE Capstone Class on Wednesday, Feb. 10 th by Steve Pierson

2. Project Approval Talking Points Initiation of new or enhanced product request What info. does mgmt. need to make decision Major components of a business plan Information sources used in a business plan Expectations of the approval process Tips for improving approval chances

3. Sources of New or Enhanced Product Request Business development identifies a need R&D obtains new technology (e.g. IP, patents, trade secret, etc.) Executive team initiates a new strategic business area Customer feedback/Market Gap RFP (e.g. government and industry)

4. Information Required by Management Why should management invest in your project Does project fit with core business/expertise ROI Risks, Benefits, Synergies Strategic importance of project Meet Customer/Client expectations Resource needs and time to market Business Plan

5. Major Components of a Business Plan Strategic fit with the company’s core business Market/Customer/Competitor analysis Revenue Projections/ROI/Profitability Resource needs (people, $s and equipment) Options/Scenarios Risk Analysis/Contingencies Customer’s application Technical details Competing technology benchmarking

6. Sources of Information Target Customers SME’s (internal and external) Conferences Technical Publications Hoovers Academia Annual Report

7. Expectations of Approval Process Understand decision-making process Identify key decision makers and influencers Sell your project Process is iterative and may have exceptions

8. Advice for Success Secure buy-in along the way No surprises Quality and complete Provide options/contingencies Seek advocate who is a respected member of leadership team Solicit input early and often