Welcome to our weekly Q&A blog series with CEO and Co-founder, Erik Nijveld.
In blog #2 of the Q&A series, Erik highlighted how you can streamline your technology scouting activities.
The technology scouting activities will result in a number of technology deployment opportunities for your company. In today’s blog, Erik will answer questions about our Technology Stress Test methodology, which allows you to rank the opportunities and focus on the top ones.
Erik, can you give a high-level explanation of what the Technology Stress Test is, and how it helps companies?
The Technology Stress Test is a structured, facilitated dialogue around 25-30 specific questions, grouped under seven themes.
It supports the technology deployment activities in two ways. First of all, it helps to assess the business impact versus ‘do-ability’ of the technology for your company, based on the characteristics of your specific assets and projects. Based on the outcome, you are able to create a balanced portfolio of technology deployment projects.
Secondly, it helps to identify key actions to ensure that all technical and non-technical barriers towards deployment are removed or lowered.
Going back to the first point: why is this important?
It’s important to make choices. If you try to do too many things at the same time, there is a high risk that nothing happens.
Say, your technology scouting activities have resulted in a list of 100 technologies that can be beneficial for your company. To get all those technologies deployed is still a lot of work, and more than most companies can handle in a calendar year. Even if a technology has been deployed by tens of other companies: if it’s new to your company, it usually means that it requires a focused effort.
The Technology Stress Test helps you to take informed decisions which technologies to focus on.
And how does the Technology Stress Test help with the second point?
It is important to treat every technology deployment like a project. It’s also important to get every detail right. If a technology fails, then it often doesn’t get a second chance within your company.
For each of the seven themes, the Technology Stress Test helps to identify key actions that need to be closed. Some of them are straightforward, such as making sure there is a contract in place with the vendor. Other actions are more subtle, such as making sure the risks and rewards are distributed in a fair way, such that people don’t put their heels in the sand.
Does the Technology Stress Test take a lot of time to conduct?
As said at the start: The Technology Stress Test is a dialogue of around 25-30 specific questions. The first Technology Stress Test typically takes 1,5 - 2 hours. A refresh is usually done quickly, depending on how many remaining actions there are. It’s important though that it is not seen as a tick-the-box exercise. What counts is the quality of the conversation, such that you maximise the chances to get the technology deployed.
For a full overview of the Technology Stress Test, I would recommend readers to watch the recording of a webinar that I delivered in Q4 last year on this specific topic! I would be more than happy to answer any questions you may have.
This concludes the last blog with Erik for this month.
If there is a specific topic you would like Erik to focus on during a future blog series with him, let us know by sending your suggestions to [email protected].
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