Innovation management
Definition
Innovation management describes a structured approach to managing innovation with defined processes, KPIs and governance structures to support it.
Companies that are serious about their innovation efforts will have defined processes for managing innovation, typically in the form of a pipeline perspective of their innovation efforts.
Decision gates are defined along the innovation pipeline to evaluate ideas and projects at various stages and dedicate resources to moving these ideas and projects forward or closing them down if they are not successful.
An innovation manager will follow up continuously to see if ideas and projects move ahead as planned and if the proper distribution of ideas is in place to meet strategic goals.
Innovation management is thus less about creating “databases of ideas” and more about making sure ideas and projects progress and resources are used wisely.
Related concepts
Innovation Challenge
An innovation challenge can be seen as an extended version of an idea campaign with a more ambitious topic, a wider reach in terms of participants, a greater communication effort, and a more ambitious process from ideation, over idea maturation, to pitching and awards ceremony…
Idea Management
Idea management is the structured process of managing ideas from ideation through evaluation and refinement to selection. Many companies use an idea management platform to support this process (the Nosco platform is an example of this).
Idea Campaign
An Idea Campaign is a time-bound, topic-focused initiative to ideate, screen, develop and validate ideas. It is used to address business or technical problems that require input from a broad group of people. The idea campaign is a simple method to quickly solve small and big problems…
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