CIO’s guide to creating a dashboard for tracking innovation projects

Here is an example of a tool in use, used to track innovation progress and defined KPIs.

“Innovation projects are just like any others – project managers and leaders need to track milestones, budgets and metrics.”

The 4 KPIs To Track In Innovation Accounting

In this post Strategyzer shares some insights on KPIs for innovation projects, tracking Risk & Uncertainty, Potential Profitability, Learning Velocity & Time Spent, and Cost.

Read the short overview here at Strategyzer.

The Testing Mindset – How to Find Product/Market fit

“Here’s the thing with innovation, you can’t just tell people to be innovative. A great idea doesn’t always come when you’re sitting at your desk between 9:00am and the end of your working day. Here at etventure we’ve tried various approaches to innovation in the last few years, and what we’ve learned is that success cannot be planned. You have to embrace uncertainty and understand that the majority of your decisions are based on assumptions. You have to invest skillfully to test these assumptions. The smarter your investment in testing, the better your chances of product success. Here’s what we’ve learned based on our experience of adopting a testing mindset and seeing your way through innovative product development.”

* Product/Market fit Cannot be Planned
* Reduce the Costs of Failure
* Prioritize Investments
* Is there Interest
* Reachability of target group
* Willingness to pay
* Technical Feasibility
* Scalability in order not to be forced re-build later on
* Focus on Outcome not Output

So please keep in mind that building an innovative product is so much more than just executing software specifics. By applying the testing mindset you’ll enhance your chances of success.

Read the full article here at “mind the product” from GREGOR ILG.

Innovation Metrics vs Execution Metrics

“It’s a huge challenge for innovation teams to establish and implement innovation metrics in their organization. Why? Because they substantially differ from the established metrics that focus on execution.” Here is the article.