Cordova Research Survey evaluation

Cordova Research Group
Cordova Research Group spent more than thirty years conducting pure and applied research for a variety of external customers. With the reduction, however, in Research and development
Funding, Cordova decided that the survival of the firm would be based upon becoming a manufacturing firm as well as performing Research and development
. The Research and development culture was close to informal project management with the majority of the personnel holding advanced degrees in technical disciplines. To enter the manufacturing arena would require hiring hundreds of new employees, mostly non degreed.
QUESTIONS
1. What strategic problems must be solved?
2. What project management problems must be solved?
3. What time frame is reasonable?
4. If excellence can be achieved, would it occur most likely using formal or informal project management?