Manage/Measure
This is an on-going step once innovation capability has been built and embedded. Having invested in developing the capability and initially seeing the benefits, the culture of innovation is something that can all to easily be lost as other organisational issues arise. It is therefore important to closely manage the innovation function and portfolio as well as to repeatedly measure performance/progress against set goals. We do this using an easy to use portfolio management tool that can run in conjunction with your own project governance framework alongside follow-up innovation audits.
Framework
- Manage: Building and maintaining a comprehensive single view of the innovation projects in the portfolio and constructing them into a coherent pipeline of activity delivering a predictable stream of benefits.
- Measure: Regularly measuring the impact of innovation within the organisation allowing periodic reviews of the portfolio to ensure it remains aligned to the strategy and incorporates any change in priorities.
- Celebrate Success: Taking the time out to reflect on innovations as they reach their conclusions (whether implemented or not) and learning the lessons of what works and what doesn't. Sometimes it can be surprising what actually works in any given environment so it is important to capture that information and celebrate the achievement.
Innovation Age Product
We offer a service to help you manage your innovation function and associated portfolio of activity. This can be either providing the existing management with the necessary tools or by managing it for you. The service includes access to our wealth of experience in dealing with the internal politics of innovation and ensuring that proper governance is applied.