CSUITE INNOVATION PROJECT MANAGEMENT - PM 360 Consulting
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CSUITE INNOVATION PROJECT MANAGEMENT

495

Innovation Life Cycle

Competitive factors are now forcing companies to realize that business survival in the new world is predicated  upon growth and innovation.Now more than ever it is essential for companies to stay ahead of competitors,new entrants,changing consumer behaviours and market trends.Change is accelerating and we are seeing more and more new applications making old business models obsolete. Consider the rise of Apple,Google,Uber,Tesla,Visa,Facebook,Virgin,Stripe,Gap,FedEx,Air BnB,General Electric,Spotify,Netflix and Amazon and how they are revolutionising our day to day lifes.

 

If continuous and sustainable innovation is to occur, then innovation leadership and project management must be married together and with a clear understanding of each other’s roles. Innovation defines what we would like to do and project management determines if it can be done. The marriage also may require that both parties learn new skills and create a corporate culture that supports idea management practices  (Harold Kerzner 2019).

Executives and project managers have to show leadership in bringing together all the disparate aspects of theory, reality, vision, process, finances, adding value and politics to create successful outcomes.

FROM A PROJECT OR BUSINESS INSIGHT FEW MARKETS ARE UNIQUE IN TERMS OF INNOVATION:


Differentiation What makes your product or service different from your competitors?

Money People’s hard earned money on buying your product or service?

Getting Investors Money Pressure on you to deliver the return on investment?

Idea Product / Service Will people buy into it? New product or service, there are lots of good ideas, but can they be brought to the market and commercialized?

 

 

What is innovation of products and services ?

Product innovation enhances the physical appearance and functionality of the product. In contrast, service innovation is an intangible process of providing customers with value and improving their performance. Product innovation refers to developing new and unique products to improve the way of living.

 

What is the success rates of new product and service launches?

According to Harvard Business School Professor Clayton  Christensen approximately 30,000 new products launched each year, about 95% fail

 

Obstacles to product and service success? 

Lack of knowledge

Behaviour change requirement

Multiple decision makers

High cost

High risk

Unfamiliar category

Obstacles to use

Limited supporting infrastructure

Use creates pain points

Its cool,not better

Offering isn’t targeted

 

(Steve wunker www.brandingstrategyinsider.com)

 

Success Criteria for Product / Service Innovation Project

  1. Established the goal
  2. Project success definition (3 levels)
  3. Clear and measurable criteria for project delivery – product / service – business value success
  4. Communication and stakeholder engagement
  5. Requirements management
  6. Planning
  7. Leadership
  8. Team management
  9. Risk management
  10. Project control and governance

 

 

WHAT ARE THE DELIVERABLES FROM THE C-SUITE INNOVATION PROJECT MANAGEMENT WORKSHOP:

  • Why? innovation project management
  • The role of innovation and project management concepts
  • Senior executives’ sponsorship & the ARC Model
  • Defining project success metrics across three levels (Project delivery -product or service – business)
  • Business skills for innovation project management leaders & managers
  • Linking innovation to business strategy – KISS strategy
  • Hybrid-Agile-Project-Management-Process
  • Product / Service lifecycle – diffusion of innovations
  • Stage gate product innovation process
  • Innovation project management roadmap
  • Accept uncertainty – learn fast,learn quick,succeed faster
  • Innovation risk management and register
  • Project management value conflicts and roadblocks
  • Determine the success and failure criteria of an innovation project
  • Establish business value and the importance of new metrics for measuring and reporting business value

Dublin    10th November  2022  [9.00 – 12.30]  Workshop  €495

London  25th November  2022  [9.00 – 12.30]  Workshop  £495

Dublin     14th December  2022  [9.00 – 12.30] Workshop  €495   

       

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SKU: 48/65247 Category:
Description

“Failure is not the opposite of success; It’s a part of success.” – Arianna Huffington

Success rate – the percentage of new products / services that achieved their expected business goals.

Typical normal success rates are 50-55%.

Throughput – the number of products / services that you move through the company process and bring to market in a specific time period with the available resources.

Value – the contribution of the products / services in the client project portfolio, usually in revenues generated,profits and return on investment.

Innovation Project Management Roadmap

Entrepreneurs are committed, energetic, can-do people, I see two big differences between a natural entrepreneur, and a skilled project manager.

The first is that entrepreneurs are in it to build a business, it’s the end point and the value that it creates which motivates them.

The second difference is that few entrepreneurs have training in project management concepts and techniques.So, managing the project planning and execution  steps can be challenging for them in delivering the project objectives.

Additional Information
Date:

17 June 2020, 8 July 2020, 12 August 2020