Building an Innovation Portfolio—10 Key Takeaways

Building an Innovation Portfolio—10 Key Takeaways

Innovation is ongoing, distinct from change, and involves creativity and risk. To drive successful innovation, organizations need a strategy, culture, and plenty of ideas. Product portfolio management is crucial for operationalizing innovation and aligning investments with brand strategy. PMOs should support and encourage innovation while relaxing their methodologies where necessary. CIOs will need to shift to support more innovation initiatives. The key is to balance risk vs. reward and make room for smaller innovation projects.