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Innovation Project Management: Virtual In-House Training

Innovation Project Management: Virtual In-House Training

By IIL Europe Ltd

  • 30 Day Money Back Guarantee
  • Completion Certificate
  • 24/7 Technical Support

Highlights

  • Delivered Online

  • Full day

  • All levels

Description

Innovation Project Management: Virtual In-House Training

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.

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

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

About The Provider

IIL Europe Ltd

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