How do I best present my investment in Innovation? Are there some standard formats or diagrams?
You can present investment by a) Show a split of near term & long term strategic investment, b) group by Innovation Type: Business As Usual (delivering each week), Incremental (every 3 months) and c) Step Change (once a year). You can also group by Innovation delivery approach: 1) Hack Event, 2) Ongoing Programme, and 3) Incubator.
By Matt Shearer . Published: 2016/06/02 10:36:43 AM, Last Updated: 2019/06/22 9:49:07 AM Answer URL
1) Strategic Innovation Investment:
Use the Eisenhower Matrix to show your allocation to Strategic projects. For a portfolio this means you split investment into matrix similar to this:
NB – people take offence when their projects are categorised as “unimportant”, so it’s prudent to use “high & low priority” instead.
2) Innovation Type:
Categorise your innovation projects by type of innovation:
- “BAU”: A % of your team’s time is allocated to innovation projects. e.g “One in Ten” in many organisations.
- “Incremental”: Fold-in regular innovation opportunities to your delivery approach. e.g. in Agile delivery methods, this can be a natural part of your iteration; the team is able to innovate to solve real problems.
- “Step Change”: Investment in high-risk experiments, and activities that are permitted to fail, in order to open significantly different, novel opportunities.
3) Innovation Delivery Approach:
- Hack Event (days)
- Programme (months)
- Incubator / Workstream (years)