Can nanomaterial development & its commercialization be better organized through project management methodologies?

The nanomaterial development & its commercialisation undergoes different phases such as the development of the products/materials in research laboratories, start-up/scale-up of operation, manufacturing/production, Incorporation of the product (commercialisation), & end of life/disposal. These are similar to tailor-made project phases, where the basic project life cycle consists of initiation, planning, implementation, monitoring & controlling, and closure. These phases require proper planning & scheduling in order to achieve success. The project management principles such as focusing on the product, continued business justification, documenting experiences, managing the execution by stages, tailoring to suit the environment, managing by exception, defining the roles & responsibilities of all the individuals associated with the project are equally applicable in both the cases. In order to achieve a successful result within a stipulated time, there is a need to optimise the resources & cost. Hence, many project management methodologies such as CPM, CCPM, etc. can be applied in the case of nanomaterials for a fruitful result.