How do you ensure that your projects produce the expected business value?
Timely execution of a company’s development projects can improve the competitive performance and time to market for numerous companies.
Through a focus on the conception of value in regard to the company’s products and services, R&D has been successful in transforming the customers’ strategies to feasible and productive initiatives.
A clear strategic direction for development projects plays a vital role in creating results. Often, development projects are initiated before the requirement specification is matched with the strategy, causing the projects to produce less than the desired value. The engineering company R&D is specialised in creating value for the customer through the development of individualised and innovatory products and services for a wide range of companies.
R&D has a diverse clientele ranging across several fields, in which each customer has a different set of customised requirements. Consequently, the point of departure is always the individual customer and a specific assessment and evaluation of the best possible strategy to optimal value creation.
A prerequisite for producing an improved value is a thorough comprehension of the customer’s needs. “It may seem trivial, but we shift our perspective and view the project through the eyes of the customer, while complementing the internal resources with new knowledge and new angles. By modifying the internal processes to fit the needs of the client, we are able to produce and provide an improved value,” Axel Manøe Jepsen says, CEO of R&D.
A strategic overview
A well-developed strategy is a prerequisite for executing valuable and productive projects. For R&D, this is an explicit line of thinking, seeing that the strategic overview shapes the direction of the project and thereby the foundation of success: “We do not only focus on the objective or the ultimate aim, we care about the process too. A predetermined course of action ensures that we make the right decisions and are able to execute the project at the right time. Due to this, we can provide valuable results for the customer in the shape of a faster launch of new products,” Axel Manøe Jepsen says.
Specialists provide increased revenue
The engineering company’s rich palette of specialised competences provides the customer with the right resources and the proper knowledge to execute the projects. “We have specialists within project management, hydraulics, mechanics, high voltage engineering, software, automation, electrical engineering, structures and foundations, which enables us to present the right expertise at all times. It is a simple way of enhancing the customer’s development department, seeing that we can complement the company’s industry-specific expertise with our own specialists, who contribute with another angle on the project,” Axel Manøe Jepsen says and continues: “Due to our wide range of specialists, we are able to convert the customers’ strategies to definite initiatives, which leads to shorter time to market and a minimal additional cost”.
Innovation creates competitive advantages
Innovation is vital to the effort of securing the future of the company. Successful companies are capable of continuous change and innovation in regard to their business models. Those who do not manage to keep one step ahead of the development of new solutions risk being left behind by other, more innovative competitors.
“A lot of companies are capable of producing knowledge but do not possess the ability to transform it into specific solutions at the right time. In this case, external resources can help make the process more efficient and ensure that the company maintains its market position. The key is to have an innovative approach to the projects, so ideas are quickly turned into action. Innovation is a line of business, which allows the company to differentiate itself and create a stronger platform in the market,” Axel Manøe Jepsen says.