1. Understanding Your Objectives
The first step is to understand your objectives, challenges, and constraints. Whether you’re seeking to write grant applications, land an industry partner or strategically develop your research, it’s critical to define the scope of the project and identify key performance indicators.
2. Convert Experimental Plans to Processes
Map research steps into a process flow diagram. Use this to clarify data needs and develop the first of the communication tools that support collaboration with industry partners.
3. Data Collection & Cleaning
Gather relevant data from multiple sources. Assess quality and resolve inconsistencies to increase accuracy and reliability.
4. Model Development
Build the model using prepared data. Capture operational and capital costs, create financial summaries and run sensitivity checks. Integrate comparable systems where possible for validation.
5. Interpretation and Reporting
Modelling data, in particular its visualisation, provides strategic and actionable insights for the research’s forward direction. This also allows for interpretation of potential competitive advantages and partnering pathways.