20160511_RDiL Labs_How to Plan and Manage your Innovation Efforts_Keith Finglas

How to plan and manage your innova3on efforts

1. Role of Innova3on

Economies of scale results in func3onal centralisa3on – opera2ons, sales and finance

Silos that sustain products and geographic markets alignment

Matrix management is complex and difficult to co-‐ordinate

Now networked or virtual groups are emerging

Compe33on and economic forces drive the need for new models

The challenge is about alignment of knowledge workers and IP rather than physical and financial assets

Globalisa3on has changed and challenged the environment

Therefore need to unlock value through innova2on

Restructuring is expensive and creates organisa2onal problems oBen as bad as the problem being solved

A system for innova2on is a set of tools to align and control an organisa3on’s behaviours and outcomes

Essen2al is an alignment of strategy and structure and a framework that measures the scores

Strategy map defines and communicates the purpose and impact and the scores are the table of results

Individuals are empowered to deliver accre2on of value to stakeholders – asset test / what value

Measure success under 4/5 headers – customers, financial, process, learning and growth

Investment required is measured under 10X principles

Innova3on is not separate but an integral part of BAU Measures

2. Planning and Managing Innova3on

retail financial Blue

Sky Inputs

Extensions Produc3on Customer Experience

Change management

Industry peers

Supply chain

Process Culture , organisa3on

Demand Chain

Product/Service Op’ns Partnering Organ’sn

Create a strategy Run innova2on projects Embed innova2on systems in your organisa2on

Leadership & Organisa3on

Culture & Values

People & Skills Processes & Tools

Effec2veness

1.56

usable people desirable

viable business

technically feasible

balanced approach

1

2

3

inspire

ideas

prototype

dis2ll

priori2se

evaluate

1

2

3

business concept features interac3ons

design implement

1

2

3

Quality : Solu3on and Execu3on -‐ improving per project per year

Time Year 1 Year 2 Year 3

“FROM INSPIRATION TO IMPACT”

EXECUTIVE SUMMARY

Inspiration to Impact is a programme that translates effective strategic planning into executed projects that generate value.

1.  Defining the Inspiration to Impact business relationship 2.  Overview of the process 3.  10X Strategy 4.  Project Management 5.  Toolkits and Canvases 6.  Change Canvas 7.  Financial Impact Assessment and Value Sharing 8.  Risks and Challenges

DEFINING THE INSPIRATION TO IMPACT RELATIONSHIP •  A partnership journey from idea to execution and scale that uses strategic planning, project selection, innovation techniques and industry understanding to define and grow desirable, feasible and commercial opportunities for mutual benefit

•  Joint innovation working structure •  Clearly defined commercial objectives •  Shared knowledge and shared reward

•  Scope and Criteria •  Roles and responsibilities

What does

success look like?

Industry Objectives

Commercial Objectives

Operational Requirements

Operational Efficiency

Accountability

Value Creation

Joint Innovation

Shared Risk & Reward

Joint Ownership

Knowledge Sharing

Profitability

Improved Performance

PROJECT MANAGEMENT PROCESS •  Pre-feasibility •  Feasibility •  Concept •  Pilot •  Test •  Go Live

STRATEGY PROCESS •  Environmental scan –

external / internal •  Assumption validation –

market size •  Organisational goal

alignment •  Colour coded BMC •  Leverage exiting business •  Accelerated growth options •  Joint innovation

FINANCIAL IMPACT ASSESSMENT •  Cost •  Expected Value •  Decision

milestones •  Stage checks

OVERVIEW OF THE PROCESS

➜  Existing BM assessment Mission / Vision / Values / Goals

➜  SWOT / benchmark – strategic choice

➜  Internal / External Options ➜  Core / Adjacent /

Disruptive Options ➜  Priority Ranking – D-F-C ➜  Governance ➜  Culture Change ➜  Controls

STRATEGY 10X

WHY

HOW

WHAT

Projects

  Portfolio Approach – Diversified, Value Oriented   PM as Busines Change Agents, not just task coordinators

Preparation •  Idea prioritisation •  Business Case •  Concept Design •  Getting the right scope for the

business

Execution •  Initiation •  Governance •  Planning and Testing

Performance Management •  Governance •  KPIs •  Impact Assessment •  Decision Points

Idea Sources •  Strategy •  Teams •  Staff •  Suppliers/Customers Idea Collection •  Open-ended •  Campaign •  Process

VALIDATE STEPS

•  Idea Prioritisation Assessment Toolkit •  Value Proposition Validation •  Innovation Toolkit •  Design Thinking Modelling •  Business Model Canvas •  Change Management Canvas •  Project Efficiency Canvas •  Customer Discovery Toolkit

TOOLKITS & CANVASES

Leadership & Organisa3on  Vision and goals  Strategic alignment  Common defini3on of innova3on  Org structure flexible, suppor3ve

Culture & Values  Collabora3on  Open and Idea-‐friendly culture  Innova3on incen3ves  Rewards for innova3on and risk taking

People & Skills  Proficiency in innova3on skills  Innova3on training, workshops, coaching  Facilitate individual involvement

Processes & Tools  Systema3c approach  Suppor3ng tools  Idea management (genera3on, shaping)  Pipeline and porholio management

Effec2veness   Metrics

Change Canvas

Financial Impact Assessment

Preparation •  Idea prioritisation •  Business Case •  Design concept •  Design people, process,

technology maps

Execution •  Initiation •  Governance •  Planning and Testing

Performance Management •  Governance •  KPIs •  Impact Assessment •  Decision Points

Input Activity Output Outcome Impact

•  Risk Topics •  Misaligned Corporate

Incentives •  Different Timelines •  Customer Ownership •  Active / Passive Partners •  Different Objectives •  Value vs Cost •  Sustainability to Scale •  Execution

RISKS AND CHALLENGES

Thank You! Contact us: [email protected] [email protected]

20160511_RDiL Labs_How to Plan and Manage your Innovation Efforts_Keith Finglas

Technology

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