Award Winning CEO & Executive Coach | Advising Chief Executives & Owners on Growth | CEO at Vibrant Cultures | Leadership Development Executive |
New research explores which decision-making method might work best when choosing innovation projects to greenlight.
Choosing which innovation projects to green light is a tough challenge for any team. Should you aim for consensus, vote on your top picks, or let the top boss decide? One research study compared common project selection methods and found that a simple form ranking is often (but not always) a good choice. https://lnkd.in/edViV_NE
Transforming today's managers into tomorrow's leaders by helping them communicate and interact more effectively, build collaborative teams, resolve conflict and motivate others to perform at their best.
How to Decide Which Innovation Projects to Greenlight https://buff.ly/4f1BaJI
How to Decide Which Innovation Projects to Greenlight https://buff.ly/4f1BaJI
How to Decide Which Innovation Projects to Greenlight
How to Decide Which Innovation Projects to Greenlight
In their latest article, Ronald Klingebiel and Lucas Böttcher delve into the complexities of selecting innovation projects. They examine various decision-making methods, including voting, scoring, and ranking, to determine which approach yields the best results. Their research reveals that a simple ranking method often outperforms others, improving project portfolio performance by 10-20%. This method involves committee members ranking projects in order of preference and funding the top-ranked ones within budget constraints. They highlight the importance of consistency in applying decision rules to avoid muddled results. They also emphasize the need for decision-makers to weigh several factors, such as budget, expertise, and project profiles, when choosing the appropriate selection process. This article provides valuable insights for organizations looking to optimize their innovation portfolios and make more effective project selection decisions. https://lnkd.in/dtM-kMaJ
Similarly, platforms like the World Open Innovation Conference emphasize the power of bringing together diverse stakeholders, such as startups, corporations, and academics, to co-create value through collaborative innovation. The move towards open innovation ecosystems allows companies to harness knowledge from outside their traditional networks, increasing innovation and resilience.. The data for this study has been derived from Web of Science database read more here https://lnkd.in/dGTdYsCJ At Earth05 we want to accelerate Water & Energy industry to move from siloed innovation to open ecosystems, where collaboration across competitors and sectors accelerates solutions. 🌱 Water Scarcity waits for No One! #Innovation #CoCreation #OpenInnovation #Collaboration #FutureOfWork #Sustainability #ClimateAction #CoCreation #OpenInnovation #ZeroWasteWater #0WasteWater #100RenewableEnergy #EradicateMicroplastics #NoMicroplastic #WaterStress #RenewableEnergy #CircularEconomy #Earth05Prize #CoCreationPrize
I'm excited to share insights from the Global Innovation Index (GII) 2024, which tracks the most recent global innovation trends. This year's report highlights the challenges and opportunities in the innovation landscape, with a special focus on social entrepreneurship. #Innovation #GII2024 #SocialEntrepreneurship #Technology #GlobalTrends
Thank you Dionysios Dasopoulos for contributing your thoughts to innovation perspectives and adoption of strategies to navigate the evolving global landscape.
For anyone on a mission to tackle complex social challenges, understanding the potential directions of innovation and change are crucial to planning, resourcing and directing their long-term efforts effectively. But often the institutional picture of the future is static and one-dimensional. Could there be a better way to find the innovation sweet spots amongst the many possibilities for the future? Our new blog explores ⬇️ https://bit.ly/3Lsrpb1
With innovation projects abound, these tips can help your team evaluate and prioritize the right ones for your organization: https://bit.ly/3Ba9IeK #prestigestaffing #innovation #innovationprojects #projectmanagement
