Innovation Portfolio Mapping
A single map that offers you multiple views to make informed decisions for your innovation portfolio, both at a strategic and tactical level.
A simple tool to link your innovation projects to your business’s strategy and also to your innovation ambitions. This mapping provides you multiple perspectives to answer questions on the balance (or lack thereof) in your innovation portfolio and the effectiveness of your resource allocation. You’ll get insights on which projects should be killed, where your pipeline needs attention and if your innovation activities are effectively driving your company’s strategy.
Have a look at your project list... are there certain activities that your organisation engages in that cannot be classified under the four sub-categories listed on the tool? If so, add a third (or fourth) subcategory into the tool.
Map the strategic objectives that you have aligned on in your business strategy into the tool. You can also bring them in the from the 'Company Vision to Actionable projects' tool.
This is the fun part. Start mapping all your project 'circles' aligning them with the primary strategic objective they align with (i.e. map the project 'circles' horizontally, under the strategic objective they align the most closely to).
Once you've got all your projects mapped out under the right strategic objectives, start moving them around vertically to map them against the innovation type they represent i.e. Continuous Improvement, Incremental, Radical/Disruptive, or Architectural.
Try to have an unbiased facilitator in the room as you map out your projects who can challenge you on the link to your strategic objectives and innovation ambitions.