Course description
Innovation Project Management: On-Demand
Companies need growth for survival. Companies cannot grow simply through cost reduction and reengineering efforts. This program describes the relationship that needs to be established between innovation, business strategy, and project management to turn a creative idea into a reality. We will explore the importance of identifying the components of an innovative culture, existing differences, challenges, and the new set of skills needed in innovation project management.
Companies need growth for survival. Companies cannot grow simply through cost reduction and reengineering efforts. Innovation is needed and someone must manage these innovation projects. Over the past two decades, there has been a great deal of literature published on innovation and innovation management. Converting a creative idea into reality requires projects and some form of project management. Unfortunately, innovation projects, which are viewed as strategic projects, may not be able to be managed using the traditional project management philosophy we teach in our project management courses. There are different skill sets needed, different tools, and different life-cycle phases. Innovation varies from industry to industry and even companies within the same industry cannot come to an agreement on how innovation project management should work.
This program describes the relationship that needs to be established between innovation, business strategy, and project management to turn a creative idea into a reality. We will explore the importance of identifying the components of an innovative culture, existing differences, challenges, and the new set of skills needed in innovation project management.
Upcoming start dates
Outcome / Qualification etc.
What you Will Learn
- Explain the links needed to bridge innovation, project management, and business strategy
- Describe the different types of innovation and the form of project management each require
- Identify the differences between traditional and innovation project management, especially regarding governance, human resources management challenges, components of an innovative culture and competencies needed by innovation project managers
- Establish business value and the importance of new metrics for measuring and reporting business value
- Relate innovation to business models and the skills needed to contribute in the business model development
- Recognize the roadblocks affecting innovation project management and their cause to determine what actions can be taken
- Determine the success and failure criteria of an innovation project
Training Course Content
Foundation Concepts
- Understanding innovation
- Role of innovation in a company
- Differences between traditional (operational) and strategic projects
- Innovation management
- Differences between innovation and R&D
- Differing views of innovation
- Why innovation often struggles
Linking Innovation Project Management to Business Strategy
- The business side of innovation project management
- The need for innovation targeting
- Getting close to the customers and their needs
- The need for line-of-sight to the strategic objectives
- The innovation enterprise environmental factors
- Tools for linking
Internal Versus External (Co-creation) Innovation
- Open versus closed innovation
- Open innovation versus crowdsourcing
- Benefits of internal innovation
- Benefits of co-creation (external) innovation
- Selecting co-creation partners
- The focus of co-creation
- The issues with intellectual property
- Understanding co-creation values
- Understanding the importance of value-in-use
Classification of Innovations and Innovation Projects
- Types of projects
- Types of innovations
- Competency-enhancing versus competency-destroying innovations
- Types of innovation novelty
Public Sector of Innovation
- Comparing public and private sector project management
- Types of public service innovations
- Reasons for some public sector innovation failures
An Introduction to Innovation Project Management
- Why traditional project management may not work
- The need for a knowledge management system
- Differences between traditional and innovation project management
- Issues with the “one-size-fits-all” methodology
- Using end-to-end innovation project management
- Technology readiness levels (TRLs)
- Integrating Kanban principles into innovation project management
Innovation and the Human Resources Management Challenge
- Obtaining resources
- Need for a talent pipeline
- Need for effective resource management practices
- Prioritizing resource utilization
- Using organizational slack
Corporate Innovation Governance
- Types of innovation governance
- Business Impact Analysis (BIA)
- Innovation Project Portfolio Management Office (IPPMO)
- Using nondisclosure agreements, secrecy agreements, confidentiality agreements, and patents
- Adverse effects of governance decisions
Innovation Cultures
- Characteristics of a culture for innovation
- Types of cultures
- Selecting the right people
- Linking innovation to rewards
- Impact of the organizational reward system
Innovation Competencies
- Types of innovation leadership
- The need for active listening
- Design thinking
- Dealing with ambiguity, uncertainty, risks, crises, and human factors
Value-Based Innovation Project Management Metrics
- Importance of innovation project management metrics
- Understanding value-driven project management
- Differences between benefits and value – and when to measure
- Traditional versus the investment life cycle
- Benefits harvesting
- Benefits and value sustainment
- Resistance to change
- Tangible and intangible innovation project management metrics
Business Model Innovation
- Business model characteristics
- Impact of disruptive innovation
Innovation Roadblocks
- Roadblocks and challenges facing project managers
- Ways to overcome the roadblocks
Defining Innovation Success and Failure
- Categories for innovation success and failure
- Need for suitability and exit criteria
- Reasons for innovation project failure
Predictions on the Future of Innovation Project Management
- The Six Pillars of changing times
- Some uses for the new value and benefits metrics
Why choose IIL Europe
2,000,000+ people trained by IIL
50,000 annual online conference visitors
2,000+ companies have chosen to partner with IIL as their Learning Partner
Reviews
Average rating 5
The course was presented in "real life" vs. "text book" terms. I love Dr. Kerzner uses real examples from real companies. It makes the content more relatable.
Good balance of material that gave broad spectrum and reminder of what I had learned previously as well as real practical examples I can take back to my team
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IIL Global
At IIL, our fundamental values of Intelligence, Integrity, and Innovation guide our actions and achievements with each customer, partner, and colleague. Our deepest purpose is to foster the growth and success of individuals, teams, and organizations through enduring relationships and...
great presentation slides and pace of course; really enjoyed the activity portions to help either reflect or recap how learning applied to me.