Managing research portfolios in the knowledge enterprise: A university spin-out case study

Abstract

Purely knowledge-based activities are of an increasing importance for modern enterprises. Moreover, innovative companies are focusing entirely on such high-profile activities and outsourcing the supporting tasks. In this work we focus on university spin-outs as an example. Such companies often enjoy the provision of administrative infrastructure (e.g., accounting, facilities) within an "incubator" area and can focus exclusively on innovation. The transfer of research ideas to the marketplace typically involves selection and targeted prioritization of these ideas. Project Portfolio Management (PPM) can be a viable framework for this prioritization. The necessary structuring of project ideas can be provided by a standardized process with defined functions (data repository, project assessment, selection, reporting, and portfolio reevaluation). While PPM is generally regarded as beneficial for large organizations, we show that similar benefits can be expected within innovative SMEs. In this work we discuss such benefits and related knowledge and learning strategies. © 2010 Springer-Verlag.