Idea to Value

MAY 28, 2021

If you or your company has invested in an innovation or project, and it just is not working, when is the right time to stop it? This is known as the Sunk Cost Bias or Sunk Cost Fallacy , and it can be a killer of Innovation Labs and innovation projects. Billion, but was discontinued before completion after spend reached GBP 12 Billion.

Project 321

Project Study Groups Marketing 321

Harvard Business Review

NOVEMBER 8, 2023

Project managers who aspire to be CEOs are often surprised to learn that their skills, while highly valuable, do not directly align with those needed for positions of executive leadership. Why isn’t successful management of high-stakes projects and organizational resources sufficient to ascend to the top ranks of the business?

Project 145

Project Management Leadership Resources 145

Idea to Value

NOVEMBER 28, 2022

One of the best ways to assess what proportions your company should allocate to different types of innovation projects is by looking at your current and desired innovation portfolio. 20% of their innovation resources on adjacent innovations, to expand offerings and attract new customers. The 70-20-10 ratio was always an average though.

Project 292

Project Innovation Report Software Review 292

Paul Hobcraft

APRIL 6, 2023

Project management : Effective project management skills are essential for keeping cross-sector collaborations on track. Participants should be able to manage timelines, budgets, and resources, as well as measure progress and evaluate outcomes.

Collaboration 291

Collaboration Software Innovation Tools 291

IdeaScale

NOVEMBER 30, 2023

Table of Contents What is a Project Management? Project management is defined as a structured and disciplined approach to planning, organizing, and overseeing the successful completion of a project. A project is a temporary endeavor with a specific goal, a defined timeline, and allocated resources.

Project 130

Project Examples Management Resources 130

Idea to Value

OCTOBER 25, 2022

Essentially, every idea an employee has needs resources in order to be turned into an innovation project. Resources like money, a team and time away from an employees other duties. And often, it is not clear who is allowed to allocate these resources. Project Manager ? Team Lead ? Program Director ?

Resources 260

Resources Project Management Culture 260

Idea to Value

JANUARY 21, 2022

When I was quite early on in my consulting career, I was tasked with evaluating all of the current projects which a client had. This is an example of a zombie project. Zombie projects are projects that just refuse to die. It may even start life as an innovation project or pilot. Or even worse, vampire projects.

Project 250

Project Resources Ideation Meeting 250

Idea to Value

NOVEMBER 21, 2022

While the massive layoffs at meta are terrible, it sadly shows one of the major issues that companies struggle with when they try to grow and innovate too quickly … facebook tried a huge number of innovation projects which failed. Precious little of it has stuck, except for the headcount brought to work on these projects.

Project 251

Project LEAN Resources Leadership 251

Idea to Value

NOVEMBER 10, 2022

Traditionally, one of the best ways to speed up the delivery of a project is to allocate more resources to it. Some projects cannot be done faster, even if more people work on it. Additional resources do not necessarily make this happen faster. Additional resources do not necessarily make this happen faster.

Project 245

Project Resources Creativity Design 245

Idea to Value

JULY 6, 2021

Walking away from an idea or project which is just not working. In some cases this can mean literally moving on and walking away, to another team or project. Some ideas stick around longer than they should, and as a result, use up resources which would be better used on other different ideas. Quite the opposite.

How To 306

How To Project Resources Creativity 306

Idea to Value

AUGUST 6, 2021

How do you manage projects where the requirements are likely to change frequently. It can help teams plan out resources for current and upcoming work. So if your innovation team needs a system for managing multiple streams of smaller projects, KANBAN can be a useful tool to have in your arsenal.

Software Developers 322

Software Developers Software Development How To LEAN 322

IdeaScale

APRIL 11, 2024

What is Project Planning? Project planning is the process of defining the objectives, scope, deliverables, timelines, resources, and activities required to complete a specific project successfully. Here are the key components of project

Project 100

Project Examples Roadmap Resources 100

Idea to Value

OCTOBER 27, 2022

If you choose to spend your time, focus, effort and money developing one idea or innovation, it means you cannot spend those same resources on other ideas. Yes, you cannot invest in two full-scale innovation projects which require the same people, money and resources. But what if the costs were not the same?

LEAN 235

LEAN Resources Project Innovation Management 235

IdeaScale

MAY 4, 2021

However, project managers might wonder exactly who these “crowd workers” are. Critics often assume that employed professionals don’t have time to participate in crowdsourcing projects. This means that crowdsourcing projects are generally a hobby or a second source of income. Who Are Crowd Workers? What Motivates the Crowd?

Crowdsourcing 264

Crowdsourcing Project Report Design 264

Paul Hobcraft

FEBRUARY 3, 2021

Knowing the issues, reducing often the ‘noise and distractions’ and making the professional case is what we need to do to attract commitment to the projects we are working upon. How can you reduce down uncertainty? The business evaluation obtained provides a consistency of approach to all cases irrespective across the organization.

Innovation 322

Innovation Analysis Guidelines Project 322

Idea to Value

JUNE 28, 2021

This way, more projects can be tested at lower costs, with only the ones with validated potential getting further funding to continue. But how do you actually reduce the costs of the projects in the first place? However, innovation projects are almost impossible to plan in the same manner.

Software Review 183

Software Review Project Resources Innovation 183

Idea to Value

MARCH 22, 2022

While they are required to help form the innovation strategy and allocate resources, one of the most important responsibilities they have is in setting the attitude towards failure in innovation projects. After all, we know that the majority of innovation projects fail. This costs time and resources.

Project 264

Project Resources Management Innovation 264

Idea to Value

NOVEMBER 14, 2022

In order to get the resources you need for innovation projects , usually you need management to approve your request for those resources. So in order to get support for your idea or project, the request should be framed in such a way that it requires the fewest comparisons to other requests possible.

Comparison 256

Comparison Analysis Study Resources 256

Idea to Value

JUNE 8, 2021

If you want to visualise it, it should look like a funnel, where a large number of ideas or projects are fed in the top, wide part of the funnel, and during various review stages, and as time passes those which show less promise are removed. After all, not all ideas are good ideas.

Innovation 201

Innovation Project Resources Groups 201

Idea to Value

JANUARY 26, 2022

While some antibodies will just voice their disagreement with an innovation project, they will not have the ability to stop the project. They will however sap the speed at which the project can progress, and often also drain the energy of the team trying to execute the innovation. Most innovation projects require a change.

Project 202

Project Resources Groups Change 202

Idea to Value

JULY 21, 2021

And what impact does this have on innovation projects? Innovation projects are especially likely to suffer from decision makers not understanding their own Ambiguity Effect bias, since innovation can never provide all of the desired evidence in advance. It may be linked to a cognitive bias called the Ambiguity Effect bias.

Project 296

Project Creativity Report Study 296

Destination Innovation

MARCH 9, 2020

This undermined my innovation projects. Getting them to allocate time and resource to new product projects proved difficult. ‘We Sales of current products and services were funding the payroll so they had to be protected with precious resources. Innovation is not a one-off project; it has to be a way of life.

Innovation 242

Innovation Project Agile Resources 242

Idea to Value

JULY 13, 2021

And in order for that team to be effective innovators, they need to feel like it is safe to speak openly about their progress on challenging projects with unknown targets, and where things will never run according to plan. Some projects should in fact be stopped , but companies are afraid to because of sunk costs.

Innovation 321

Innovation Project Creativity Brainstorming 321

Idea to Value

SEPTEMBER 24, 2022

In fact, any project, company or team is often trying to represent themselves and their progress in the best light possible, especially when they are dependent on other more senior decision makers for the resources to continue their work. So be careful of being too deceptive in how well your own innovation projects are doing.

Innovation 305

Innovation Examples Project Brainstorming 305

Idea to Value

DECEMBER 13, 2022

Innovation projects often fail because innovation teams, management, leadership and operations are not aligned on what success actually looks like. And one of the most important ways to have facilitate this in your projects is to ensure you have clarity and alignment from the very beginning on what the definition of success is for all teams.

How To 288

How To Training Project Innovation 288

Idea to Value

NOVEMBER 15, 2023

This can result in people and projects trying to hide failure , or avoid trying things which challenge them at all so that they are less likely to fail. If there is a portfolio of 10 projects, and one brings a return of 100x, then it does not matter if the other 9 fail. Innovation projects are different.

Underperforming Technical Team 207

Underperforming Technical Team Project Technical Review Resources 207

Leapfrogging

APRIL 19, 2024

Introduction to Virtual Team Project Management In today’s globalized business environment, virtual team project management has become an indispensable aspect of organizational success. Be transparent about project timelines and deliverables to set feasible expectations.

Project 100

Project Management Software Review Technical Review 100

Leapfrogging

APRIL 19, 2024

Introduction to Virtual Team Project Management In today’s globalized business environment, virtual team project management has become an indispensable aspect of organizational success. Be transparent about project timelines and deliverables to set feasible expectations.

Project 100

Project Management Software Review Technical Review 100

Idea to Value

FEBRUARY 6, 2023

And the biggest drop is in what proportion of projects will be for transformational innovations. So appetite to invest in transformational projects which are seen as more risky will be lower at the higher levels of many companies, based purely on psychology and neuroscience. Nonetheless, this is not all bad news.

Technical Review 307

Technical Review Underperforming Technical Team Report Innovation 307

Idea to Value

MARCH 1, 2022

Everything was done to set up the project for success. Problems were discovered, priorities changed, enthusiasm dissipated and slowly what was once seen as an exciting new innovation gathers dust in a list of zombie projects somewhere. But innovations fail at the handover points. So plan for them in advance.

Development Team Review 255

Development Team Review Software Review Design Thinking Innovation 255

Christensen Institute

APRIL 18, 2024

They identify what opportunities an organization finds attractive based on the incentives of its profit formula, and what resources and processes must exist to support those opportunities. She’s an Associate Professor at the Indiana University School of Social Work and Project Director of SIF.

Resources 85

Resources Report Case Study System 85

Paul Hobcraft

AUGUST 4, 2021

A sustainable future that mobilizes action in searching for new economic thinking incorporates a more circular model of management that builds a more purposeful recycling approach that reduces the pressures on our use of precious minerals and resources. We need a greater horizon projection.

Design 307

Design Resources Technology System 307