The IPA Institute

IPA Research Into Commercializing New Technology

Commercializing New Technology

IPA has an extensive database of projects that involve commercializing new technologies. Investing in innovative technologies can provide great returns to a business by introducing new products and establishing new markets. Innovations can improve processes for existing operations and can reduce the cost to manufacture or the materials costs. However, these projects are often difficult to execute and carry greater risks than their standard technology counterparts. IPA research in this area has identified a set of practices and strategies shown to address the risks associated with commercializing innovation.

Some highlights of IPA research studies that focused on minimizing the risks associated with implementation of new technologies include the following:

• Best Practices for effective commercialization of new technology
• Measurement of new technology and the uncertainties associated with it
• Technology commercializing strategies
• The need for technical specialists
• Understanding the difficulties with solids processing

IPA conducts research to address issues for specific companies and also conducts studies for groups of firms sharing common problems. For more information about how IPA research can address your needs, contact Mary Ellen Yarossi, Director IPA Institute at 703.729.8300.

IPA Research Overview Improving Capital Effectiveness

IPA has conducted over 300 research studies with findings that are aimed at raising the level of understanding of the drivers of capital effectiveness in the process industries. All IPA research studies are quantitatively based and link capital project performance with a set of practices. Numerous organizations have implemented the practices and learnings that result from IPA’s empirical approach to make measurable improvements in their capital project systems. Some of the best projects have used the practices identified in IPA’s research to achieve costs 25 percent less than competitive projects and 20 percent faster and with 15 percent better operability. Such results have been shown to improve the expected return on these investments by 22 percent.

IPA research is unique in that it is empirically based. Studies conducted by IPA are based on the learnings from over 10,000 capital investments ranging in size from less than US$100,000 to over US$1 billion. IPA has studied all phases of the capital cycle from the early phases when investment opportunities are selected to the operation of the asset. Various types of projects have been covered, from greenfield facilities in new locations to maintenance projects in operating plants. IPA has the only data of its kind that was collected by trained analysts in a methodical fashion.

The research conducted by IPA is also different from other project management research in that it is interdisciplinary. All participants in the capital project process are represented, including business, engineering disciplines, research and development, operations, maintenance, cost engineering, and controls, in addition to project management. The interdisciplinary nature of IPA studies allows the research to encompass all aspects of capital effectiveness.

IPA maintains an active research program to explore the most current issues affecting capital investment. Working closely with its clients and those involved in capital projects, the IPA research program is structured to identify new trends and practices to best meet the most current needs. Some areas currently explored are the following:

• Core competencies to be maintained in project organizations
• The business/engineering interface
• How to best implement a gated process for various size projects
• Factors affecting operation of facilities
• Risk identification and mitigation

The extensive databases allow IPA to address issues that impede capital project effectiveness. Studies can be structured to address the concerns of a single organization or a consortium of companies. In addition to research into the practices that lead to successful commercialization of new technology, studies have been done in the following areas:

• The capital investment decision
• Measuring project competitiveness
• Project planning and definition
• Resourcing for effective capital investments
• Contracting strategies
• Project execution practices
• Implementing Best Practices
• Maintaining assets through effective plant projects
• Drivers of megaprojects