Accelerate innovation efforts, decrease risk, and maximise your ROI with a systematic and scalable process and portfolio
Why innovation needs to be a foundational management discipline
Most organisations have no shortage of good ideas. Insights and new opportunities are discovered everyday through interactions among employees and with customers, partners, and suppliers. Yet, few organisations can consistently capture and capitalise on these ideas. They lack a dedicated approach for managing innovation, and applying traditional project selection processes such as business cases and discounted cashflow metrics leads to innovative ideas being diluted or killed before they can see the light of day.
Innovation risks differ from those faced in day-to-day operations and traditional projects. The greatest risks in business innovation are building something that customers don’t want or building something which is desirable but cannot be scaled with a profitable business model.
Innovation management systems reduce risk by testing a wide range of ideas quickly and cheaply, incrementally investing in ideas only as testing and validation reduces the level of uncertainty.
Benefits and Key Results:
- Effectively capture and harness ideas, insights, creativity, and learning from throughout the organisation and value chain
- Systematically identify, explore, validate, and ultimately scale new products, services, and business models
- Maximise return on innovation investments while decreasing overall innovation risk
- Remain nimble and able to rapidly explore new opportunities, by decoupling innovation activity and funding from traditional PMO processes and budget cycles
- Maintain strategic focus and minimise the risk of disruption by committing to ongoing exploration of opportunities beyond existing products, services, and business models
- Equip your teams with consistent tools, processes, coaching, and guidance, to make innovation understood and accessible to everyone in the organisation.
How we can help you develop your innovation management systems and portfolio:
We tailor our expertise to each client’s unique environment to build an innovation execution framework, light-weight governance, and portfolio management process that enable you to turbo-charge your innovation efforts.
Every engagement is unique, but typically will include creation of:
Innovation Process
A light-weight repeatable innovation process that builds on our expertise and is tailored to your organisation
Governance Framework
Governance framework for allocating resources and aligning innovation investments with strategy
Innovation Project Methodology
Playbook and tools to enable rapid and consistent rapid innovation and creating a common language for talking about innovation in the organisation
Performance Tracking
Key metrics for objectively measuring progress and performance of both individual efforts and the overall portfolio
Internal Coaching Capability
An internal innovation team coaching capability