Most major corporations align their R&D (Research & Development) investments to their corporate strategies. However, most R&D projects don't transit to the commercial products.To ensure that R&D investments produce desired Innovation Return On Investments (iROI), there is a need to develop and implement a model which links R&D strategies to the corporate strategies. The following is one such recommended four phase model. These phases include IP Management, R&D Portfolio Management, Product Management and Maturity Analysis. 

1: IP Management deals with determining the need for an organization's intellectual property to meet their strategic technology needs, and developing or acquiring external intellectual property. 

2: R&D Portfolio Management deals with analyzing the organization's intellectual property, converting into manageable R&D elements, called critical research elements (CREs), and conducting the R&D portfolio performance analysis. The CREs will be the backbone of the R&D performance analysis. In the corporate world, such analyses should be based on the commercial criteria, such as profitability, number of patents generated, and the number of new products introduced. 

3: Product  Management deals with converting the CREs into critical technology elements (CTEs).  A technology element becomes a CTE if the product being developed depends on whether the technology element meets operational requirements, and also whether it is new or novel.  

4: Product maturity metric measures a product's health using a multi-dimension metric which includes technology, programmatic, development, customer and organizational goals.  The innovation stakeholders should evaluate and implement such models to ensure that R&D investments produce desired iROI.