Managing the Process

You need a project management system that regularly reviews the status of projects

All of this means that you need to have good project-management practices as your innovation develops, and also the flexibility to review and change your projects -- to cancel those that are going nowhere, to modify others to meet changes in circumstances, and to continue to support only those that look like they are really going to produce real benefits.

You need a project management system that regularly reviews the status of projects, identifies the risks associated with progressing them further, and only allocates additional resources to those projects that still meet strategic criteria and have a high probability of success.

ACTION POINT: Allow sufficient flexibility in the system for small fast-track projects to take place.