Innovation portfolio management: what it is & why you need it

Innovation portfolio management: what it is & why you need it

Innovation portfolio management (IPM) helps oversee innovation projects independently, identifying where projects get stuck and deprioritizing non-essential projects. To implement IPM, businesses need to outline their strategic mapping framework, map strategic priorities, and map innovation projects, color-coding them to show their contributions to company goals. By using IPM, businesses can benefit from strategic resource allocation, clear roadmaps, negative space evaluation, and ambitious project insights, helping manage risks in the long run.

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More Innovation Resources:

Product development: How to get the most out of internal feedback

Internal product feedback is often neglected, but it can help in getting an overall view of the product, improving employee productivity by 20-25%, and correcting mistakes before launch.

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Shifting Budgets from Advertising to Innovation

Shifting Budgets from Advertising to Innovation

Overhyped technologies such as VR and self-driving cars must solve important problems to be useful for society.

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The hazards of binary thinking and poor scope definition

The hazards of binary thinking and poor scope definition

Narrowly defined problem scope limits innovation. Conducting brainstorm sessions with a different problem statement can unlock new thinking.

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