Business analysis model for the Canadian Institute for Fuel Cell Innovation (IFCI)

Canada is currently at the forefront of fuel cell research and development. The Canadian government has charged the Institute for Fuel Cell Innovation (IFCI) to support the Canadian fuel cell industry in creating a global leadership position for Canada in the commercialization of fuel cells. To efficiently fulfil its mandate, IFCI must collaborate with external organizations on projects that provide the maximum benefit to the Canadian fuel cell sector. Literature regarding the financial and non-financial methods of evaluating projects is discussed, along with the advantages of using scoring models instead of purely financial models. The external and internal environments of IFCI are analyzed. Through this review and analysis, a business analysis model based on a scoring model was developed for IFCI. The business analysis model will assist IFCI’s management in prioritizing and selecting projects. The IFCI Project Evaluation Model will allow IFCI to effectively and uniformly assess future project proposals.