Evaluation and Performance Measurement of Research and Development

Evaluation and Performance Measurement of Research and Development

Techniques and Perspectives for Multi-Level Analysis

Vittorio Chiesa and Federico Frattini

This book develops and illustrates a comprehensive, multi-level framework for the evaluation of industrial R & D activities and the measurement of their performances. The framework encompasses a set of hierarchical, interrelated levels at which R & D evaluation and performance measurement could be undertaken. This enlightening book focuses on the single industrial firm to study performance measurement of R & D functions, projects and individual researchers or engineers. It also addresses the R & D evaluation from the point of view of financial markets, with a focus on the relationships between R & D investments and the value of the traded firm.

Chapter 1: R & D Function

F. Frattini, V. Lazzarotti and R. Manzini

Subjects: business and management, organisational innovation, economics and finance, industrial organisation, innovation and technology, organisational innovation, technology and ict

Extract

1. 1.1 R&D function INTRODUCTION This chapter examines a first dimension along which measurement of R&D performance can be undertaken and studied, that is, the R&D function of an industrial firm. This issue deserves particular attention because assessing performance and contribution to economic value of R&D has become an important concern for R&D managers in particular in the last decades (Kerssens-van Drongelen and Bilderbeek, 1999), as a result of the evolutionary trend discussed in the introduction of this book. Despite the fact that measuring R&D performance is a very challenging task, with potential negative impacts on the creativeness of scientists and engineers (Brown and Svenson, 1988), the topic has currently received large attention in R&D and innovation management literature, and it is raising the interest of managers and practitioners as well (Pappas and Remer, 1985; Brown and Svenson, 1988; Sivathanu and Srinivasa, 1996; Werner and Souder, 1997; Hauser, 1998; Driva and Pawar, 1999; Driva et al., 2000; Poh et al., 2001; Loch and Tapper, 2002; Godener and Soderquist, 2004; Ojanen and Vuola, 2006). The growing interest in the measurement of a firm’s R&D function performance has stimulated reflections about the tools that can be effectively employed by R&D and senior managers to this end and, as a result, a huge bulk of research has flourished around the issue. The first purpose of this chapter is to provide an updated overview of this vast literature that will be useful for R&D...

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