An alternative view of your innovation portfolio that offers you additional insights on resource allocation and the need for interventions on certain projects- based on their position on the Innovation funnel map.
Why use this tool?
This tool allows you to generate additional views to gain further insights on resource allocation and project progress. By mapping the innovation project ‘circles’ along the innovation funnel, you will be able to ascertain where your innovation pipeline needs work, if your resource allocation is effective and if your innovation projects are on track to deliver the value estimated by the project teams.
In short, it offers answers to critical questions on your innovation portfolio.
How to use this tool
1.
Take the project ‘circles’ from the Innovation project template and start mapping them based on which stage they are in, in the innovation funnel.
2.
Once mapped according to funnel stage, move these project circles vertically based on the innovation type they focus on i.e. incremental, radical/disruptive or architectural.
Tip
If all is going well with your innovation portfolio, you should see the size of the project circles increase as you go from top to bottom at any stage of the funnel- implying your resource allocation is increasing based on your innovation ambition.Additionally, the size of the circles should be increasing as you move from the left to the right of the map, implying you are investing more resources as the idea becomes more ‘certain’ or less risky- lower down in the funnel.
Additionally, the size of the bubbles should be increasing as you move from the last to the right of the map, implying you are investing more resources as the idea becomes more ‘certain’ or less risky- lower down in the funnel.
Of course, there can be exceptions to this rule, but this is a good rule of thumb to follow.
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