A structural analysis of process development in process industry: A new classification system for strategic project selection and portfolio balancing

A research project on the development of process technology in process industry led to recognition of the importance of a better classification of different types of process development. A new classification system and matrix have consequently been developed, using the dimensions 'newness to the world' and 'newness to the company'. The distribution of annual company expenditures for process development in the matrix and the estimated usability of the matrix have been tested as part of a larger survey conducted among R&D managers in European process industry. In view of the favourable response from industry, it is argued that the matrix could facilitate company portfolio balancing of process development projects, and that it is also necessary to distinguish between different types of process development in academic research.