Preliminary work this joint industry project (JIP) suggests that it may be possible to reduce the success risk. The best possible start options may also depend on the internal and external factors. Experiments at our client site proved the efficiency of this technology, but in order to implement it to whole industry additional research is needed. Studies need to be conducted for geographical locations, companies’ infrastructure, and technical capabilities of data base operators. Earlier investigations have shown JIP problems and its management is ten times more important than any other concern in project development. A better consideration of the issues leading to long term solutions is needed. Identification of efficient operational procedures will be a great help in cutting capital and operating expenses. The test program of JIP systems should guide to improve project designs and associated operating strategies. Finally, analysis of the impact of the member location could be studied
Analysis of some key components in JIP implementation is given below:
• State of the art market intelligence system is a necessity to review market needs, analysis of competitors and demand of this system. This tool lead to market fore sighting, technology valuation, and project budgeting.
• Strategic management process will perform the analysis of technology need, development of corporate and business strategies, development of business plans, and supply chain development.
• Commercialization of technology involves effective procedure of member organizations, fund raising activities, development of project proposals and their presentations, initiation of JIP modules, and facilitation of management activities.
• Establishment of information – distribution networks to initiate JIP procedures, web-based interactive processing systems, technical training and development through workshops and seminars, and inclusion of database performance measures.
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