TRACK Workshop: Financial Analysis in Innovation

Event Type
Workshop
Location
Online
Date/Time
06/21/2023
1 pm - 5 pm

Finance for R&D, Portfolio Management, Risk Management

You are an Innovation Leader and not an accountant. This workshop is designed to provide an introduction to the different types of financial calculations that are used in innovation. In it, the participants will learn essential tools such as calculating net present value and decision-and-risk analysis, as well as how to construct and analyze a financial business case. Critical applications such as sensitivity analysis, tornado diagrams, and real options analysis will be covered. The workshop will feature practical illustrations based on the real-world experiences of the instructor. The workshop will include hands-on break-out sessions that will give participants confidence in applying these concepts. Upon completion, participants will quickly be able to develop and present financial analyses that will augment their technical and strategic work, thereby creating more value for their organizations. 

Outline:

  • Time value of money
  • Business case basics
  • Elements of a financial business case
  • Constructing and analyzing a business case
  • Business case metrics (NPV, IRR, time-to-money)
  • Hurdle rates and return on investment
  • Parameterized business cases
  • Importance of base case
  • Sensitivity analysis and tornado diagrams
  • Decision and Risk analysis
  • Real Options Analysis

The session will include break-out sessions to work with the tools and techniques in order to evaluate understanding and also build connections with the other participants.

Who should attend this course:
The workshop is designed for both researchers who have recently assumed a team leadership role and for individual contributors who seek to lead an innovation team in the future. It is designed for those who want to broaden their ability to develop and present innovation proposals by including compelling financial analyses. It is also appropriate for an innovation team member who wants to develop a broader understanding of innovation financials. This course can be viewed as a springboard to the participant’s professional advancement.

Registration Fees:

IRI Members: $295
Non Members: $395 

Due to limited seating, we request that you cancel at least 48 hours before a scheduled class. This gives us the opportunity to fill the class. However, if you do not cancel prior to the 48 hours, you will lose the payment for the class.


All IRI events are broadcast in Eastern Standard Time

Spencer Pugh

Spencer Pugh

Principal

Prospect Ridge Consulting, LLC

Dr. Spencer Pugh is an executive with over 40 years of experience in technology development, product commercialization, and business management.    He is the Principal of Prospect Ridge Consulting, LLC, and serves as Chief Scientist and Board Director of the start-up MagPlasma.  Most recently, he was Vice-President, Research and Development, for Michelman, a specialty chemical company headquartered in Cincinnati, Ohio.   Prior to that, Spencer was the Vice-President and General Manager of the Energy and Environment Global Business Unit of Battelle, the research and development non-profit headquartered in Columbus, Ohio.  He started his professional career with the Eastman Kodak Company in Rochester NY, where Spencer was a Senior Laboratory Head.  He holds a Ph.D. in Physical Chemistry from Stanford University.   He is a Six Sigma Black Belt and is also a Certified Licensing Professional (CLP), licensed by the Licensing Executives Society (LES). He has been active in the Innovation Research Interchange (IRI) for over 15 years and has served on its Board of Directors twice. 

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