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By leveraging AI, you can enhance the efficiency and effectiveness of your innovation projects. AI-powered tools can analyze historical data and predict future trends, enabling you to allocate resources more effectively and optimize your innovation portfolio. Cost Savings Optimizes resource allocation and reduces waste.
You may know that in addition to my work on innovation and creativity , I work as a professional Project Manager. As I’ve just finished leading an 18-month project, I am reflecting on how project management and leading teams is changing as Artificial Intelligence becomes more common in the workplace. Let’s dive in.
The 70-20-10 Innovation Rule is a strategic framework that guides organizations in allocating time, budget, and resources across three categories of innovation: core, adjacent, and disruptive. By using this model, teams can: Prioritize projects based on impact and alignment with strategy. What is the 70-20-10 Innovation Rule ?
This new management method makes it nearly impossible for innovation teams to fail at delivering multiple challenging innovation projects faster, with less risk and lower required budgets. Most innovation experts often say that traditional management processes are not the way to run innovation projects. And this is true.
Speaker: Nick Noreña, Innovation Coach and Advisor, Kromatic
Every startup and innovation project exists within an ecosystem that either helps or hurts that project. As innovation managers, we need to keep a pulse of that ecosystem and make sure we're helping those innovation projects we're managing every step of the way.
It was about her new book “ Quit: The Power of Knowing When to Walk Away “ , and there was one topic they spoke about which really stuck with me when thinking about innovation projects. She spoke about why people often find it so hard to walk away from or stop projects which are obviously failing.
Instead of building a rigid business plan based on speculative projections, DDP encourages teams to identify key uncertainties, design experiments, and refine the strategy as new information emerges. It gives teams permission to explore and adapt while staying aligned with business goals and resource constraints.
Business Model Canvas in Innovation In innovation projects, the Business Model Canvas serves as a foundation for building scalable and customer-focused solutions. The canvas fits into real-world innovation projects by helping to: Define how a new product or service will generate value. Lead Successful Innovation Projects!
The model enables teams to manage innovation portfolios strategically, allocate resources effectively, and communicate priorities across departments. Assess the Current Portfolio Start by reviewing all ongoing and planned innovation projects. Lead Successful Innovation Projects!
Speaker: Ketan Jahagirdar - Sopheon’s Director of Product Management
70% of most digital transformation projects fail. To be successful, digital transformation involves the strategic application of digitalization to improve a business’ entire system of production, procurement, sales, operations, human resources, and financial management. Learn how you can quickly improve that success rate.
By mapping where a product or technology lies on the S-curve, organizations can better allocate resources, decide when to innovate, and anticipate market transitions. The framework supports innovation projects by: Highlighting when incremental improvements will no longer yield competitive advantage. Lead Successful Innovation Projects!
For example, AI can streamline ai for rapid prototyping and testing processes, reducing the time and resources required to bring a product to market. Scalability : AI can support the scaling of innovation projects by optimizing implementation strategies and managing complex workflows. Lead Successful Innovation Projects!
This helps you prioritize projects and allocate resources more effectively. For instance, AI can assist in ai for portfolio management by identifying high-potential projects. This involves evaluating potential innovation projects, assessing risks, and prioritizing initiatives based on their projected impact and feasibility.
The matrix provides a snapshot of an organization’s current innovation culture, helps identify areas for improvement, and guides resource allocation to support continuous innovation. It provides an organizational-level perspective that complements specific project-level tools like business cases or roadmaps.
Speaker: Kelly Goetsch - Chief Strategy Officer at Commercetools | Jason Cottrel - CEO & Founder at Orium | and guest speaker Brendan Witcher - VP, Principal Analyst at Forrester
To stay ahead of the curve, digital leaders are experimenting with less risky initiatives and scaling back on outdated projects that no longer yield impactful results. The pace of tech shifts will intensify, businesses are set to defund legacy solutions, and attractive opportunities will surface as social and retail media players join forces.
GE McKinsey 9-Box Matrix: A Practical Guide for Strategy Projects The GE McKinsey 9-Box Matrix is a strategic portfolio management tool that helps organizations assess and prioritize their business units, product lines, or investment opportunities. Balancing resource distribution between high-growth and stable business units.
First Mover Advantage: A Practical Guide for Strategy Projects First Mover Advantage (FMA) is a strategic concept where a company gains a competitive edge by being the first to enter a new market or introduce a groundbreaking product or service. Secure strategic resources and partnerships. Lead Successful Strategy Projects!
Discovery Driven Planning: A Practical Guide for Strategy Projects Discovery-Driven Planning (DDP) is a strategic approach designed for uncertain, high-risk initiatives , where traditional planning methods may not be effective. Innovation-driven projects. Invest resources efficiently , preventing costly failures.
A Business Case is a structured document or presentation that evaluates the merits of a proposed project or initiative. A well-developed business case provides stakeholders with the information needed to make informed decisions about whether to move forward with a project. Lead Successful Innovation Projects!
Scaling transformational innovations in large companies is challenging due to ‘Company Fit’ issues, which arise when the resources, processes, and priorities (RPPs) of the core business are not aligned with the needs of the new business.
This can lead to better resource allocation, project prioritization, and overall team performance. Benefit Description Improved Decision-Making AI provides actionable insights for better resource allocation and project prioritization. For more on this, see our article on decision-making processes.
In a real-world project, White Space Innovation might look like a legacy logistics firm exploring on-demand mobility services, or a health insurance company developing wellness apps to engage members outside of claims-based interactions. Existing resources and capabilities. Resource needs and internal champions.
It promotes agility, customer focus, and data-driven decision-making by minimizing time and resource waste on ideas that may not deliver value. Reduced waste : Resources are only committed to ideas that show promise. Heres a step-by-step guide to applying the Build-Measure-Learn model effectively in innovation projects.
Real-world innovation projects rarely happen in isolation. Below is a step-by-step guide to using this tool effectively in innovation projects. Environmental: Sustainability concerns, climate impact, resource use. Strategic roadmapping and resource planning. Lead Successful Innovation Projects!
Why do some embedded analytics projects succeed while others fail? We surveyed 500+ application teams embedding analytics to find out which analytics features actually move the needle. Read the 6th annual State of Embedded Analytics Report to discover new best practices. Brought to you by Logi Analytics.
Agile Innovation is a dynamic approach to project execution that breaks initiatives into small, manageable tasks, enabling organizations to rapidly adapt to market changes. The process involves identifying leadership, defining focus areas, making quick decisions, and leveraging both internal and external resources.
Gap Analysis: A Practical Guide for Strategy Projects Gap Analysis is a structured framework used to evaluate the difference between an organizations current performance and its desired future state. This analysis is widely used across industries, from business operations and project management to human resources and product development.
Financial modeling is particularly essential in innovation projects, where investments must be justified, resources need to be allocated wisely, and potential returns must be clearly understood before execution begins. Financial models in innovation projects help to: Forecast market penetration and customer growth.
Ohmae’s 3Cs Model: A Practical Guide for Strategy Projects The 3Cs Model , developed by Kenichi Ohmae , is a strategic framework that helps businesses achieve a sustainable competitive advantage by focusing on three key stakeholders: Customer, Company, and Competitor. Lead Successful Strategy Projects!
Speaker: Cheryl Perkins, Founder and President, Innovationedge
Webinar participants will walk away inspired and motivated to advance their leadership skills from building new capabilities, changing culture, piloting several innovation approaches, to tailoring unique solutions to win in very competitive markets.
Kays Distinctive Capabilities Framework: A Practical Guide for Strategy Projects Kays Distinctive Capabilities Framework , developed by John Kay , is a strategic model that helps organizations identify and leverage their unique competitive advantages. Align business resources with core competencies for maximum efficiency.
By aligning team efforts around what matters mostthe riskiest and most uncertain parts of an ideathe Experiment Canvas prevents wasted resources and accelerates the path to product-market fit. Heres how to apply it in innovation projects: 1. Lead Successful Innovation Projects! Lead Successful Innovation Projects!
By assessing concepts against predefined criteria such as feasibility, market potential, cost, and alignment with business objectives, businesses can systematically filter out weaker ideas before significant resources are invested. Optimize Resource Allocation: Prevent waste by investing in the most feasible and marketable ideas.
Porter’s Diamond Model: A Practical Guide for Strategy Projects The Diamond Model , developed by Michael Porter , is a strategic framework that helps businesses and policymakers understand the factors that influence a nations competitive advantage. Leverage national resources to build global competitiveness.
Hedgehog Model: A Practical Guide for Strategy Projects The Hedgehog Model , developed by Jim Collins in his book Good to Great , is a strategic framework that helps organizations find their core focus and achieve long-term success. Preventing over-diversification and inefficient resource allocation. Lead Successful Strategy Projects!
Lead Successful Innovation Projects! Get instant innovation processes Get expert tools & guidance Lead projects with confidence Learn More Implementing AI in Innovation Strategies Incorporating AI in Idea Generation Incorporating AI in idea generation can significantly enhance your innovation processes.
Outcome Driven Innovation in Innovation In practical innovation projects, Outcome Driven Innovation serves as a strategic guide for aligning product development with real-world customer priorities. Below is a step-by-step guide for using ODI in innovation projects. This prioritization helps guide ideation and resource allocation.
Value Disciplines Model: A Practical Guide for Strategy Projects The Value Disciplines Model , developed by Michael Treacy and Fred Wiersema , is a strategic framework that helps organizations identify and pursue a distinctive competitive strategy. Guiding investment and resource allocation for maximum impact.
SMART Metrics: A Practical Guide for Strategy Projects SMART Metrics are a structured approach to goal setting and performance measurement that ensures objectives are clearly defined, actionable, and measurable. Without SMART Metrics, businesses risk setting vague or unrealistic goals that hinder progress and misallocate resources.
It ensures that resources are allocated to concepts with the highest potential for success. Cost-Effectiveness : By automating the concept testing process, AI reduces the need for extensive human resources and manual analysis. This can lead to significant cost savings and allow you to allocate resources more effectively.
Strategy Map: A Practical Guide for Strategy Projects A strategy map is a visual representation of an organizations strategic objectives and how they interconnect across different business functions. Without it, organizations risk misalignment, inefficient resource allocation, and lack of accountability in executing their strategy.
Through ai for portfolio management , you can better manage your projects, ensuring that your innovations are timely and effective. Lead Successful Innovation Projects! Conducting this assessment helps you prioritize AI initiatives and allocate resources more effectively. Lead Successful Innovation Projects!
AI can also play a crucial role in portfolio management by analyzing the performance of different projects and suggesting optimal resource allocation. By analyzing vast amounts of data, AI can identify potential partners, collaborators, and stakeholders who can contribute to your innovation projects.
It enables organizations to assess when to scale, improve, or replace existing technologies, ensuring they allocate resources efficiently and maintain a competitive edge. Optimize Resource Allocation Align R&D and capital investment with market demand. Lead Successful Change Management Projects!
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