Besides being the single most complicated facet of business, it can be said that project management is also the most perplexing one. Not only that it demands a flawless cooperation of multiple employees, teams and even departments, unfailing organizational strategies and uninterrupted workflow, but it requires an absolute absence of standstills, inaccuracies and slips as well.
Integrating Agile with Stage-Gate® – How New Agile-Scrum Methods Lead to Faster and Better Innovation
Recent experiences show that Agile project-management methods can be used in the innovation process and has a great potential to reduce development time and increase the success rate of new products. The article briefly outlines how an Agile method, such as Scrum, can be used within a structured innovation process with milestones and decision points, such as Stage-Gate®, and what benefits it provides to both manufacturers and service-providers.
Innovation leaders today don’t have an easy job. Tasked with bringing Innovation to their organization, they often face a variety of interpretations of innovation throughout the organization, a lack of comprehensive understanding of what innovation really entails, and what it requires to truly embed innovation in a way that it sustains itself.
Clear separation of top ideas from mediocre and weak ideas is essential, before financial and other resources are allocated. The Hyperselect method provides a new, sound and improved way to fulfill this task. Moreover it reveals, that hyperbolas might be “the better matrix” in quite a lot of methods for prioritization and beyond.
Everyone plans tasks in different ways, but the largest, most complicated projects have tried-and-tested methodologies that help break processes down and ensure that stakeholders and different departments are clear about which tasks need to be completed by whom and by what time. This article breaks project planning down into seven key tasks that have to be completed before work begins to give the project the best possible chance of coming in on time and on budget.
With the increase of, and dramatic improvement in, mind mapping software and its emergence as a value-adding toolkit conveniently available for use on our computers, laptops, tablets, etc. signifies that mind-mapping can be used within an every-day working environment. Jamie MacDonald takes a closer look at six uses for mind mapping in business situations that most of us engage in on a frequent basis.
Many product organizations have some type of Project Management Office (PMO), even if they refer to it by a different name. The PMO is a critical component to a successful product delivery, yet it often carries a reputation for being heavy-handed policy enforcers. When focused on the right things, the PMO plays a pivotal role in driving innovation process excellence and ensuring profitability.
As innovation practitioners, few of us would refute that decision-making is one of the biggest progress-halting problems in corporations pursuing innovation as a continuous process. This article introduces a hands-on tool to help innovators, management members and corporate boards to follow a visual, utterly practical method to “consider” (as opposed to evaluate) new projects and their possible implications in their companies’ future. The tool in turn, fosters lean communication and inclusive understanding among diverse participants, claiming that, by following its structure, innovation is not only possible, but repeatable.
Measuring Open Innovation – a Metrics-Based Management Toolkit for Successful Innovation Teams – Part 2
How to apply metrics to open innovation (OI)? That's the question we often get from our clients when they start to develop their open innovation capabilities. In order to provide an answer to this critical question, the following article will focus on the key findings of our Open Innovation KPI 2012 study. Based on this study, a metrics-based management toolkit has been developed, which provides the most relevant key performance indicators from the perspective of innovation managers, subject matter experts, and consultants.
Once you’ve got the green light from your boss, your innovation board or financer, it’s once again up to you to deliver the concept you’ve promised them.Depending on the nature of your new concept,in the next step you will deliver a prototype, a full business case or interested business or technology partners who will join the product development team.
This is the second of two articles, co-written by Ralph-Christian Ohr and Kevin McFarthing. In our previous post, we discussed how Strategic Portfolio Management (SPM) ensures that the content of the portfolio is driven by innovation strategy and associated targets. We would now like to move on to Operational Portfolio Management (OPM), where the portfolio directs resource allocation, metrics and reporting on an operational and tactical level. The link between the two is shown in Figure 1 below.
Facing increasingly dynamic and unpredictable environments, firms are required to develop convenient innovation strategies, constantly adapt them to changing conditions and properly implement strategically aligned initiatives throughout their organizations. Innovation portfolio management (IPM) can act as the pivotal tool to translate strategic objectives and priorities into project-based innovation activities. Furthermore, it provides a framework to convert raw ideas into real investment opportunities, based on their risk profile.
As the economy is dynamically changing and innovation becomes crucially important, a look into the management practices and risks that such projects face should always be welcome. In part two of this series of articles focused on identifying risks on innovation projects, the attention will be directed towards the identification of the internal and hidden risks of innovation projects.
Product lifecycle management (PLM) initiatives often miss their true potential and make projects unnecessarily costly. Not understanding how to optimize these investments can have long-term effects on both the top and bottom line, while companies that realize how to use PLM as a competitive weapon can capture significant market advantages. In this article we give you insights into how to take an approach that addresses the true potential of a PLM investment.
Measuring Open Innovation – 3 Key Principles to Improve Your Innovation Measurement Practices– Part 1
Thanks to loads of compelling research studies and best practice cases in open innovation (OI) carried out over the last decade, several companies nowadays begin to embrace and partially apply the new principles and methods OI offers. However, when managing open innovation at the project level, even experienced managers still go blank at the question: how to assess, control, and measure the performance of these activities? In this series of articles, we will address the above issue by discussing a general framework for an open innovation performance measurement system (Part 1). Given this framework, a metricsbased management toolkit will be presented that provides a suite of key performance indicators (KPIs) for a specific set of OI methods that demonstrates the key results of our Open Innovation KPI 2012 Study (Part 2).