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Technology Evaluation

‘Technology Evaluation’ involves assessing the feasibility, effectiveness and potential impact of various technologies that resolve specific challenges or achieve important objectives. Achieving commerciality for ‘technically ready’ transition technologies is a multi-disciplinary exercise and encompasses analysis of technical specifications.

Success depends heavily on technological innovation where outcomes are uncertain and utility must be constantly sought when a technology is ‘technically ready’. Such demonstration is foremost, a risk-based exercise evaluating whether the residual technical risks are acceptable within regulatory criteria and commercial risks are acceptable to investors.

The overall technology evaluation process has to integrate both technical and commercial factors to ensure that investment to create the transition pathways is justified. This is a complex, feedback process supported by well-known and effective procedures which require multi-disciplinary experience which RMRI provides. 

Many factors must be evaluated and integrated for the technology to have utility and be ‘fit-for-purpose’. In addition to be technologically proven, commercially viable is imperative to be:

Consistent with market demand, technically and commercially and with client expectations and plans.

Technically feasible, able to meet regulatory hurdles and to be capable of deployed safely.

Commercially viable to encourage investment and implementation in the long term.

Able to meet performance expectations of target users who are required to make large scale investment decisions.

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