Methods for Assessment of Innovation Projects

987 words (4 pages) Essay in Information Technology

18/05/20 Information Technology Reference this

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Because company development is driven by innovation within an organization, knowing which innovation to invest in is critical to company achievement. It is found from research that “Enterprise organizations around the world face astronomical project failure rates, often wasting millions of dollars per failed project” (Discenza, R. & Forman, J. B. 2007). New ideas from various sources are often encouraged and in various variants generate worthwhile results. Ensuring innovation through action is a strategic company operation that is vital. The first step towards ensuring the achievement of the innovative purpose is to evaluate innovation through a study approach. During the original phases of the study phase, both practicality and marketability of any offered concept will depend on the choices of the researcher. “Some of the critical issues that need to be resolved by the researcher include the overall purpose of the research”, the identification of the research questions to be addressed, “the use of a theoretical framework, the development of hypotheses, and the choice of a qualitative and/or quantitative research approach” (Wilson, 1996).

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If you were to ask me for an example of an especially risky business maneuver, my answer would be technological innovation. Consumer analysis, cost analysis, and market analysis are part of multiple strategies that are of use in making a decision in case a purposed idea can progress in line with the organization’s developmental life cycle.

The aim of this document is to address qualitative and quantitative applicability and techniques for assessing any particular innovation, specifically highlighting the creation of the United Mobile Response Systems (UMRS) Mobile Command Center (MCC) with a mobile wireless network to be deployed in the case of a crisis or catastrophe that can address current communication problems. Numerical research is a quantitative evaluation method. Quantitative methods are also helpful in determining the profitability of the intended mobile command center in terms of implementing this technique in the business innovation aspect to UMRS case scenario for their mobile communications solutions. This research method helps to determine the acquisition and execution expenses, the accessibility of financing, the determination of cash flows, and the profitability of the development. “When conducting quantitative research studies, researchers seek to describe the current situation, establish relationships between variables, and sometimes attempt to explain causal relationships between variables” (Vogt, W. P. 2011) This sort of studies really concentrated on describing and sometimes, in a somewhat definite way, explaining the phenomena under inquiry.

Qualitative evaluation is method of analyzing and is useful in determining statistics that cannot be quantified or numerically calculated. “Qualitative research is beneficial in determining supply and consumer expectations, the timing of projects in terms of cost-effectiveness, competitiveness and general perception of a particular development” (Schilling, 2019). The qualitative inquiry uses distinct words for the hypothesis growth compared to quantitative research, to include “patterns, theoretical lens, or naturalistic generalizations, to describe the broader explanations used or developed in their studies” (Creswell, 2014).

A theory-based study evaluation would provide a logical hypothesis about the cost-effectiveness of the planned mobile command center and whether this would ultimately be profitable for UMRS. Nonetheless, it should be noted that although the quantitative analytical method can provide accurate economic estimates that can enhance strategic planning, these may also be incorrect in monetary assessments that are just as accurate, “as the original estimates of the profits from the technology… is extremely difficult to anticipate the returns of the technology” (Schilling, 2019).

As far as the UMRS case study is concerned, this type of research would include customer inquiry through surveys, competitor research, and the overall humanitarian value and usefulness of the MCC. Some other methods include involvement or comments, surveys with individuals, and concentrate communities (group talks). Despite the reality that qualitative data is helpful in the developmental stage of innovation studies, the failure to provide concrete information on determining the result of the intended innovation will be deemed to be a failure of the method.

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UMRS’ desired and suggested assessment techniques are its company approach, which includes both qualitative and descriptive techniques — using a blended assessment technique that involves mixing or integrating descriptive and qualitative information and studies into an exploration study. This will provide UMRS with a socially stable scheme, while maintaining that suggested technology is globally marketable and well-accepted, especially in fields where cellular infrastructure is rare and sometimes confused.

Although this sort of blended assessment or encompassing idea, the suggested element information from the MCC of UMRS, and the 4 C 4 First Responder Network, stakeholders can understand that all aspects of the studies have been fully maximized. Establishing an assessment can provide concrete numerical data while generalizing manufacturing feedback. By mixing qualitative and quantitative research methods, those who have engaged in UMRS can feel comfortable in the application of the 4 C 4 First Responder parts required to finish the roll-out suggestion for mobile command center vehicles and the wireless communication information and data capacities.

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