Choosing Projects

...is it a good fit with your wider business strategy?

When considering a potential innovation project, there are there are three important questions to ask:

• First, does the idea have promise -- does it have achievable potential to improve your organization?
• Second, is it a good fit with your wider business strategy? There is no sense pursuing an innovation to improve a product strand that is being phased out, for example. An idea should also be considered looking at risk and reward in your overall innovation portfolio.
• Finally, does the idea build on skills and resources that your organization possesses and can take advantage of? And, if not, can you obtain the knowledge and expertise required to make it work?

ACTION POINT: Recognize the promise, fit and baseline skills and resources associated with any innovation you are considering.