Do we the right things?
To answer this, we evaluate our portfolio, assess search fields, evaluate projects, and carry out investment appraisals and risk management. In particular, we assess all projects regarding their contribution towards a sustainable society. For this purpose, we are closely associated with the Group's Life Cycle Management (LCM) group.
Do we things right?
To answer this, we create financial transparency, apply for public funding, measure efficiency and manage the I2P³ process (Idea-to-Profit / People, Planet and Profit) and also evaluate projects that have been completed or discontinued.
Financial Controlling is responsible for the financial planning and controlling of Creavis's research units. This is done via financial reporting, budgeting, and risk management. Financial Controlling is also responsible for contracts with participating business units and manages coordination with Accounting.
Innovation Controlling provides the economic information and analyses needed to control the innovation portfolio. The unit is responsible for preinvestment analysis, economic project support, and ensuring and supporting project assessment in the I2P3 process. Another controlling task is knowledge management.
The Life Cycle Management (LCM) unit is an internal service provider. LCM supports Evonik on the path to more sustainability by using the latest acknowledged and standardized methods to assess and measure individual categories and influences of sustainability.