Track 3 — R&D Capital Management

Module 3.1: R&D Capital Audit Methodology

The complete methodology for conducting an R&D Capital Audit: from stakeholder discovery through economic modeling. This is the executive track for CTOs, PE partners, and board members.

3 Lessons~75 minAdvanced / Executive

🎯 What You'll Learn

  • How to structure a comprehensive Discovery phase (stakeholder interviews, data collection)
  • How to perform Technical Assessment (DORA, debt inventory, team topology)
  • How to build Economic Models that translate engineering data to financial data
  • How to calculate ROI of debt remediation for PE and board presentations
1

Lesson 1: Phase 1 — Discovery

Discovery is the 2-week phase where you gather data, interview stakeholders, and understand the organization before you begin analysis. The quality of your discovery determines the quality of everything that follows.

Stakeholder Interviews

Interview CTO, VP Engineering, Engineering Managers, and 2-3 individual contributors. Each perspective reveals different aspects of the engineering reality.

8-12 interviews per audit. 45 min each. Use the Audit Interview Protocol.
Data Collection

Git history, JIRA data, cloud spend reports, incident logs, team org chart, product roadmap, and financial statements. The data tells you what people won't.

Minimum: 12 months of history. Ideal: 24 months for trend analysis.
Document Review

Architecture docs, ADRs (Architecture Decision Records), post-mortems, tech debt backlogs. The gap between documentation and reality reveals organizational health.

Key signal: ratio of documented decisions to undocumented decisions.
📝 Exercise

Create a discovery checklist for your organization. List every data source, stakeholder, and document you would need for a comprehensive audit.

2

Lesson 2: Phase 2 — Technical Assessment

The Technical Assessment is a 3-week deep dive into the engineering organization. You're producing quantitative data that will feed the economic model.

DORA Metrics Assessment

Measure all four DORA metrics from actual data (not surveys). Deployment frequency from CI/CD logs. Lead time from Git + deploy timestamps. CFR from incident logs.

Calibrate against DORA benchmarks for company size and industry.
Technical Debt Inventory

Catalog every instance of significant technical debt. Classify by type (code/architecture/infrastructure/dependency). Estimate remediation effort.

Use static analysis + team interviews to catch what tools miss.
Team Topology Analysis

Map how teams are organized. Identify Conway's Law violations (team structure doesn't match architecture). Find bottleneck teams.

Key metric: cross-team dependency count. High = organizational debt.
Innovation Tax Measurement

Calculate the percentage of engineering time spent on maintenance, bugs, support, and infrastructure vs. new features.

Method: sprint retrospective analysis + time tracking data + engineering surveys.
📝 Exercise

Perform a mini-assessment on one team: calculate their DORA metrics, estimate their Innovation Tax, and identify their top 3 technical debt items.

3

Lesson 3: Phase 3 — Economic Modeling

This is where engineering data becomes financial data. You're translating technical findings into dollar amounts, risk scores, and projections that finance leaders understand.

Product Debt Index

Aggregate technical debt into a single dollar amount. This is your "total debt exposure" — the cost of all accumulated technical debt.

Use PDI calculator + manual adjustments for items tools can't measure.
Technical Insolvency Projection

Project when maintenance costs will consume 100% of engineering capacity based on current debt accumulation rate.

Method: plot Innovation Tax over time. Extrapolate to 100%. That's TID.
Enterprise Value Impact

Calculate how technical debt affects the company's enterprise valuation. Use EV-SE to model before/after remediation scenarios.

PE firms use EV/Revenue multiples. Show how tech debt reduces the multiple.
ROI of Remediation

For every $1 invested in debt remediation, what's the return? Include: freed engineering capacity, reduced incident cost, faster time-to-market.

Typical: $3-$7 return per $1 invested in systematic debt remediation.
📝 Exercise

Create an economic model for a hypothetical company: $10M engineering budget, 45% Innovation Tax, 80 engineers. Calculate PDI, TID, and ROI of reducing Innovation Tax to 30%.

📊 Module Assessment

Complete to demonstrate mastery of Module 3.1: