This article provides an overview of how Solverboard helps with Portfolio Management and Innovation Measurement.
The key to successful innovation management is balancing your portfolio of projects and managing its performance as you progress. Solverboard helps you achieve this by providing a complete picture of all your innovation initiatives, from ideas through to projects; and giving you access to rich sources of measurement, so you can get to grips with how well your portfolio is doing.
Solverboard's complete picture helps you understand how your portfolio is contributing to your organisation's strategic direction, what the likely benefits of your projects are and when they are predicted to occur. This understanding allows you to see where any gaps might lie, and to prioritise and mobilise new efforts: the key to achieving your strategic objectives.
On Solverboard, you can develop this deep understanding of your innovation portfolio by:
- Assessing the alignment of your portfolio to strategic goals to make sure you have the correct mix of initiatives
- Categorising your portfolio into innovation ambitions, types and custom categories to leverage the right balance of initiatives
- Analysing the emphasis of your portfolio, identifying gaps to prioritise or implement new initiatives
- Understanding the financial and benefits makeup – the return, the speed, the size, and the confidence
Throughout the process, Solverboard provides you with information guiding you on the best initiatives to launch at any one time.
Solverboard’s Innovation Measurement dashboard displays the performance results of your innovation efforts. These analytics will tell you the speed at which your organisation is innovating, the value being created (realised and potential), and the rate at which innovations are moving through the process, helping you to determine the effectiveness of your organisation's innovation activity.
You can see and assess:
- Idea generation performance – rate of ideation, alignment to goals, time to gestate, best solvers and location, number of collaborations (coming soon), ideas raised as a direct result of a customer need (coming soon).
- Testing performance – percentage success rate, value of proven ideas
- Project performance - percentage success rate, potential value of projects in progress, value of realised innovations
- Time performance – time taken for an idea to move from inception, to project, to realised innovation.