Innovations Roadmap: Commercialization – Costing in Commercialization

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The Innovations Roadmap is an online program designed to equip senior management executives with the inspiration and skills needed for the successful adoption of innovation. There are 29 modules divided into 3 sections: Front-End, Development, and Commercialization.

Here you gain access to one of the eight modules included in Section Three: Commercialization – Click Here for the Full Innovations Roadmap

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A costing strategy for commercialization can involve selling, licensing technology to another Firm, finding a Partner or starting a company. At the Commercialization stage, costing begins to compare actual to projections made in the initial phase of new product development.  Costing will incorporate factors such as sales and marketing costs as well as the actual production costs.  There may be licensing agreements that need to be put in place and partnerships developed.  All these necessary activities will require cash outlays and it is important that they are all tracked accurately.  Even for a small organization, it is unlikely that only one or two people will be able to handle all the tasks efficiently, so it is important that the costs are recorded, tracked and analysed impartially to ensure the project remains on track.

The Innovations Roadmap is an online program designed to equip senior management executives with the inspiration and skills needed for the successful adoption of innovation. There are 29 modules divided into 3 sections: Front-End, Development, and Commercialization.

Here you gain access to one of the eight modules included in Section Three: Commercialization – Click Here for the Full Innovations Roadmap

Section Three: Commercialization – Module One – Costing in Commercialization Includes:

Learning Objectives

  • Understand the role of costing in an innovation process
  • Be able to develop a costing plan for an innovation initiative with overviews of ready to go to market, revenue stream and budget related topics
  • Understand the basic themes and processes involved in managing costing for an innovation initiative
  • Know the best strategies for managing costing

Course Outline & Major Topics

  • Introduction
    • Why costing is important at the commercialization stage.
    • Why Do You Need a plan to manage your commercialization stage costing
    • Generally accepted good practices
  • Get Started
    • Challenges with costing at the commercialization stage
    • Why is costing important
    • What factors need to be considered?
  • Learn
    • Effective costing plans
    • How to develop a costing plan for an innovation project
    • Frameworks to guide the costing process for commercialization
  • Practice
    • Sample costing
  • Apply
    • New product development commercialization checklist template

Who Should Take This Course?

  • Innovators
  • Team Members & Leaders
  • Small Business Owners

*Become a member to receive 20% off