What Is VP R&D? Everything You Need to Know

What is a VP of R&D? Read on to learn more.

What is a VP of R&D?

A VP of R&D collaborates closely with marketing strategy and commercial divisions. So, they can define the requirements addressed in each R&D project and produce concepts, skills, ideas, and strategies to satisfy these needs.

They also guarantee that research and development initiatives are completed on schedule and within budget and that the products fulfill the criteria agreed upon at the beginning.

Therefore, VP R&D should have excellent organizational and administrative skills, be very attentive to details, and be able to handle multiple projects at the same time.

What Does a VP of R&D Do?

As a VP of R&D, you will manage a team of researchers and engineers that will be in charge of developing new products or improving existing ones. 

You will be in charge of creating and implementing the development plan.

You should know the ins and outs of each product and know-how to address each need and find ways to satisfy it. 

So, you should also take care of the budget, supervise all phases of development, and make sure that the final product meets all requirements.

Finally, you will need to get in touch with suppliers and vendors in order to get them involved in the process.

Requirements of VP of R&D

Your main responsibilities as a VP R&D are:

Educational Background

University education in an engineering or science-related field is usually ideal. That’s because you will learn how to apply math, statistics, and computer science to real-world problems.

You will also take courses in management, product design, business processes, and project management.

Later on, you can complement your education with a master’s degree in one of these fields.

Experience

In the past, a lot of companies required a Ph.D. for this position. However, that’s not always necessary nowadays. But it is very important to have experience in research and development projects. 

In fact, you should have at least 5 years of experience in R&D work before applying for this job. 

You should also be able to present a portfolio of successful projects under your belt.

It’s a plus if you have experience in managing a team of engineers and researchers and coordinating several projects at the same time. 

Also, if you have experience in serving customers by listening to their needs and showing them how you can address their concerns is a plus. 

So, it’s best if you have worked as a VP of R&D for another company before becoming one yourself. 

Summary

As a VP of R&D, your main responsibilities are to define the R&D strategy, manage projects, meet deadlines and budgets, and make sure the final product meets the company’s needs.

In order to do this effectively, you must be organized, be able to handle multiple projects at the same time, listen to your customers’ needs and address them accordingly, and have excellent communication skills.

Once you have these skills, you will have the chance to be promoted to Senior VP or even CEO.

VP R&D is a demanding but very rewarding position. If you are interested in this career, please don’t forget to take a look at our other job opportunities.