The technology plan requires a business plan, market plan and a product plan to underpin its generation. The technology plan forms the basis of the research and development projects.

Business Plan

The purpose of the business plan is to articulate what the organisation intends to do to address the market gaps identified in the preceding gap analysis.

Market Plan

The Market Plan articulates how the business plan will be accomplished and covers topics such as competitor analysis and the characteristics, size, and profitability of the marketplace,.

Product Plan

The sequence, timing and characteristics of the new product introductions going forward are set out in the product plan.

Technology Plan

The Technology Plan is the end point of this sequence of plans and forms the basis of the R&D programme.

The benefit of this hierarchy of plans is that a clear link can be established between a market need and technology exploitation programme enabling rational business decision making.