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The Innovation Performance Framework®
Lead your organization to product innovation excellence by relying on the proven approach of the Innovation Performance Framework®, created by new product development subject-matter experts Robert Cooper and Scott Edgett. Systematic and disciplined execution of all four drivers that comprise the Innovation Performance Framework® accelerates profitable, repeatable, and consistent new product performance:
- Product Innovation & Technology Strategy
Making product innovation a critical enabler in a competitive marketplace begins by aligning your new product development efforts with your business’s overall goals. Driven by your leadership team, this sets out the strategic areas where your innovation efforts will be focused (the products, technologies, and platforms that will advance the business) and helps steer project selection and resource allocation decisions.
- New Product Portfolio Management
Next, it requires a commitment of sufficient resources to effectively undertake your new product projects. Top performing companies boast portfolio management systems to help the leadership team effectively focus their resources on the right strategic arenas and to a short list of high-value projects. This involves both strategic portfolio management (ensuring that total group of projects are balanced and are aligned with the innovation strategy), and tactical portfolio management (ensuring projects are of high-value and are appropriately prioritized and resourced).
- A Stage-Gate® Idea-to-Launch Process
Focusing resources on the right strategic arenas requires that each new product project is rigorously evaluated for business merit and is aligned with the strategic direction of your product innovation efforts. The gates in your Stage-Gate® process offer rigorous evaluations of each new project forcing tough Go/Kill decisions, and screens out poor, off-strategy projects. Top performing companies apply a Stage-Gate model to effectively move the right projects from idea to launch and allocate scarce resources to meritorious projects. The result: development of superior products that reach their markets faster, and generate better profits.
- Culture & Leadership
People, culture, and leadership are behind the sustainable success of top performing companies. Senior managers in top performing businesses create a positive climate and culture for innovation and entrepreneurship, foster an effective cross-functional approach, and are themselves engaged in the product innovation decision-making process.
The real challenge is making the Innovation Performance Framework® and its drivers work in your business. Leverage the four drivers of the Innovation Performance Framework® as top performers have, and build these drivers right into your product innovation program: an innovation strategy, new product portfolio management, a Stage-Gate idea-to-launch, and climate, culture, and leadership. This sound framework can guide your business’s product innovation efforts and enable sustainable results.
Explore our articles and resources to learn more about the Innovation Performance Framework® .