Innovation Foundations Course 104 - Project Portfolio Mgmt for Innovation

2,076 views

Published on

Published in: Education
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
2,076
On SlideShare
0
From Embeds
0
Number of Embeds
1,036
Actions
Shares
0
Downloads
82
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Innovation Foundations Course 104 - Project Portfolio Mgmt for Innovation

  1. 1. Innovation Management Foundational Training Course No. 104 – Project/Portfolio Management ConceptsPresented By:Think For A Change © Think For A Change
  2. 2. Course 104 – Project / PortfolioManagement Concepts Target Student Audience:Little to no experience with:  Formal project management concepts, tools and/or techniques  Innovation management conceptsFrustrated with:  Failure to execute upon ideas  Failure to adequately plan  Failure to anticipate and/or mitigate risks  Waste that results from reluctance stop and/or kill outdated and ineffective projects © Think For A Change
  3. 3. Course 104 – Project / PortfolioManagement Concepts Course Objectives:At the conclusion of this training, the student should have:  A solid understanding of general project management concepts and how those concepts inter-relate with innovation management  An awareness number of tools, techniques and documents utilized in managing innovation- related projects  Increased knowledge regarding the importance of execution and action in innovation management © Think For A Change
  4. 4. Course 104 – Project / PortfolioManagement Concepts Course Syllabus:Segment Innovation Execution One MethodologySegment Project Management Two Concepts Review and Demonstrate Quiz What You’ve Learned © Think For A Change
  5. 5. Segment OneInnovation ExecutionMethodology © Think For A Change
  6. 6. Course 104 – Project / Portfolio Management Concepts Innovation Execution Methodology: Ideas + Action + Need = Innovation“Vision without Action is merely a dream…Action without Vision just passes the time…Vision with Action can change the world” Joel Arthur Barker © Think For A Change
  7. 7. Course 104 – Project / PortfolioManagement Concepts Innovation Execution Methodology: Five “Must Have’s” For Innovation Success Leadership Engagement  Not just commitment, awareness, approval or buy-in Business Discipline  Innovation treated as an equal business discipline, not a singular event Resources  Human, Money, Time and Space Process  Efficient and Effective Execution Discipline  Approach to managing action © Think For A Change
  8. 8. Course 104 – Project / PortfolioManagement Concepts Innovation Execution Methodology: “If You Dont Know Where Youre Going, Any Road Will Get You There.”The Cheshire Cat from Alice In Wonderland © Think For A Change
  9. 9. Course 104 – Project / PortfolioManagement Concepts Innovation Execution Methodology:  “Fuzzy Front End”  Problem Identification  Idea Generation  Idea Screening  “Messy Back End”  Development  Prototyping  Customer Need New Product Business Feasibility   Testing Development  Implementation Life Cycle  Commercialization  Pricing  Marketing  Launch  Distribution  Sunset Period  Extensions  Improvements  Maintenance  End of Life © Think For A Change
  10. 10. © American Institute for Innovation Excellence
  11. 11. Course 104 – Project / PortfolioManagement Concepts Innovation Execution Methodology: There Are Many “Roads” To The Same Destination Stage Gate Process  Discovery / Scoping / Plan / Development / Testing & Validation / Product Launch Business Process Management  Design / Modeling / Execution / Monitoring / Optimization Software Development Life Cycle  Initiation / Planning / Requirements / Design / Build / Testing / Operations / Maintenance Lean / SixSigma  Define / Measure / Analyze / Improve / Control  Define / Measure / Analyze / Design / Validate  TRIZ PDCA Cycle  Plan / Do / Check / Act Project / Portfolio Management… © Think For A Change
  12. 12. Segment TwoProject ManagementConcepts © Think For A Change
  13. 13. There Are Many “Roads” To The Same Destination (cont’d) Project & Portfolio Management  Project Management Institute  Initiating / Planning / Execution / Control / Closure  PRINCE2  Start-up / Initiating / Directing / Controlling / Managing / Closing  Critical Chain  “Theory of Constraints”  Planning / Execution / Monitoring  eXtreme Project Management  “Agile & Scrum”  Model / Implement / Test / Deploy © Think For A Change
  14. 14. Project Managers Find Answers To These Key Questions Initiating:  Where Are We Going?  Why Do We Want To Go There? Planning:  Who & What Do We Need To Get There?  How Long Will It Take To Get There?  How Much Is It Going To Cost To Get There? Execution & Control:  How Will We Know We Are Making Progress?  How Will We Deal With Any Problems Along The Way?  Who Needs To Know What We Know? Closure:  How Will We Know We Have Arrived? © Think For A Change
  15. 15. Project Management Phases(Key Activities, Deliverables & Document Artifacts) Initiating:  Activities:  Define Key Project Parameters:  Key Deliverables  Timeline  Resources  Effort  Budget  Artifacts:  Scope Definition Document  Business Case  Cost/Benefit Analysis  Charter © Think For A Change
  16. 16. Project Management Phases(Key Activities, Deliverables & Document Artifacts) Planning:  Activities:  Secure required resources  Plan project details:  Business Requirements  Design and Architecture  Work Breakdown Structure  Task Sequencing / Critical Path Identification / Scheduling  Budget Estimation  Risk Assessment & Mitigation Planning  Communication Planning  Artifacts:  Project Management Plan  Includes individual planning detail documentation and artifacts © Think For A Change
  17. 17. Project Management Phases(Key Activities, Deliverables & Document Artifacts) Execution & Control:  Activities:  Schedule Management  Task Completion Tracking  Budget Management  Resource Management  Issue/Risk Management  Quality Management  Communication Management  Status Reporting  Stakeholder/Sponsor Touchpoints  Change Management  Scope / Budget / Schedule  Artifacts:  Status Reports  Project Health Check  Meeting Agendas/Notes  Risk/Issues Log  Assumptions/Decisions Log  Change Management Log © Think For A Change
  18. 18. Project Management Phases(Key Activities, Deliverables & Document Artifacts) Closing:  Activities:  Post-Mortem Assessment  Capture Lessons Learned  Artifacts:  Updated Project Documentation  Final Status Report  Closure Report  Lessons Learned Report  After Action Review © Think For A Change
  19. 19. Portfolio / Program / Project Management Concepts Portfolio Program A Program B Project C Project D Project A1 Project A2 Project B1 Project B2 Project B3 A Portfolio is a collection of projects and/or programs that are grouped together to facilitate effective management to meet a strategic business objective A Program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually A Project is a temporary endeavor undertaken to create a unique product, service or result.* From the Project Management Body of Knowledge, 4th Edition, Project Management Institute, 2008 © Think For A Change
  20. 20. Portfolio / Project Management Approach To Innovation RISK EXISTING LOW RISK HIGH RISK Sustaining BreakthroughEXISTING vs. NEW NEW Incremental Disruptive © Think For A Change
  21. 21. Portfolio / Project ManagementApproach To Innovation (cont’d) RISK LOW RISK HIGH RISK Project A1 EXISTING Sustaining Breakthrough EXISTING vs. NEW Project B Project A2 NEW Incremental Disruptive Project C1 © Think For A Change
  22. 22. Portfolio / Project ManagementSegmentation & Constraints (cont’d) © Think For A Change
  23. 23. In Innovation…“Dreamers” Need “Doers” Creativity:  “The phenomenon whereby a person creates something new (a product, a solution, a work of art, etc.) that has some kind of value”  Spending Money to Generate Ideas  Dream It… Innovation:  “The process of acting upon, or putting to use, a new concept or combination of concepts that creates new value and/or captures value in new ways.”  Spending Ideas to Generate Money  Do It… Using Project Management As An Execution Tool for Innovation Means Matching The “Dreamers” with the “Doers” © Think For A Change
  24. 24. Review Innovation is about action Action needs to be managed There are many ways to manage Project management methodology is probably already built into your organization Leveraging portfolio management methodology is a good way to “spread your bets” Match “Dreamers” with “Doers” © Think For A Change
  25. 25. QuizDemonstrate WhatYou’ve Learned! © Think For A Change
  26. 26. Project / Portfolio Management ConceptsQuiz – Question 1:Q1.What are the five (5) “Must-Haves” for successful innovation? © Think For A Change
  27. 27. Project / Portfolio Management ConceptsQuiz – Question 1:Q1. A1.What are the five (5) Any combination of the “Must-Haves” for following: successful •Leadership Engagement innovation? •Business Discipline •Resources •Process •Execution Discipline © Think For A Change
  28. 28. Project / Portfolio Management ConceptsQuiz – Question 2:Q2.The section of the New Product Development Life Cycle that deals with execution, or bringing new ideas to life, is commonly referred to as what? A. Fuzzy Front End? B. Commercialization? C. Messy Back End? D. Planning? © Think For A Change
  29. 29. Project / Portfolio Management ConceptsQuiz – Question 2:Q2. A2.The section of the New The Correct Answer is:Product Development Life C…The “Messy BackCycle that deals with End”execution, or bringing newideas to life, is commonlyreferred to as what? A. Fuzzy Front End? B. Commercialization? C. Messy Back End? D. Planning? © Think For A Change
  30. 30. Project / Portfolio Management ConceptsQuiz – Question 3:Q3.Put the five main project management process phases in the correct order:Planning Control Closure Execution Initiating © Think For A Change
  31. 31. Project / Portfolio Management ConceptsQuiz – Question 3:Q3. A3.Put the five main 1. Initiating project management 2. Planning process phases in the 3. Execution correct order: 4. Control 5. ClosurePlanning Control Closure Execution Initiating © Think For A Change
  32. 32. Project / Portfolio Management ConceptsQuiz – Question 4:Q4.A __________ is a temporary endeavor undertaken to create a unique product, service or result. © Think For A Change
  33. 33. Project / Portfolio Management ConceptsQuiz – Question 4:Q4. A4.A __________ is a Project temporary endeavor undertaken to create a unique product, service or result. © Think For A Change
  34. 34. Project / Portfolio Management ConceptsQuiz – Question 5:Q5.Leveraging the portfolio management approach is a good way to “spread your innovation management investment bets.”TRUE or FALSE? © Think For A Change
  35. 35. Project / Portfolio Management ConceptsQuiz – Question 5:Q5. A5.Leveraging the portfolio TRUE management approach is a good way to “spread your innovation management investment bets.”TRUE or FALSE? © Think For A Change
  36. 36. Congratulations! You have completed: Innovation Management Foundational Concepts Course No. 104 – Project / Portfolio Management ConceptsPresented By:Think For A Change © Think For A Change
  37. 37. For more information on best/next practices, educational training, tools, techniques and process models for: • Creative Problem Solving • Idea Management • Innovation Management Please visit: www.thinkforachange.com © Think For A Change

×