S2m

Definition
The ability to make general evaluations of commercial risks through some understanding of the basis of such risks.

Sub skills
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Assessment
Current methods used to assess ability in the skill.

Benchmarks
CORE

Project Management

Analyse a product and produce a detailed engineering specification for it. Produce a work breakdown structure for the activities. Produce a project network and analyse its critical path. Explain how risk can be managed through project management.

Individual Project

Independently evaluate and assess alternative approaches to specific Engineering problems. Analyse the scientific literature in a specialised area and make an informed selection of tools and techniques to apply. Research, design, construct and verify a project in a complex or specialised area of engineering. Present and defend their own work through a written final report and oral presentation.

NON-CORE

Strategic Management

Explain the meaning of common strategic management terminology. Strategically analyse an organisation or business unit’s position. Compare strategic opportunities and recommend a way forward. Plan an organisation’s structure and systems to achieve an agreed strategy.

Enterprise

Understand the issues of commercial exploitation. Analyse its competitive environment including the setting of pricing structures. Distinguish between different commercialisation options and make a specific recommendation. Evaluate the marketing options and make a specific recommendation. Analyse the required resources and provide a full justification for them. Propose an organisational form for a new venture based on an analysis of the opportunity. Prepare a full and professional business plan.

Industrial Option

Map innovation activities of the company. Carry out product(s) lifecycle analysis. Report on possible strength, weaknesses of the current innovation management processes. Recommend possible improvements to current innovation management processes.

Relevant Higher Order Skills
Electrical Engineering