This article explains how to review, assess and decide whether an opportunity is viable or not. Viable opportunities are graduated to an Option state.
Forming part of your innovation portfolio Options maybe:
- Validate ideas ready for development as a project
- Validated ideas already launched as MVPs (minimum viable products) through the experimentation process that now requires investment to scale
Both require investment in resources, monies and the organisational focus to assure success; both are managed in Solverboard as projects. See our project module overview for more information.
An opportunity is ready for graduation review once an opportunity team have completed their exploration and testing. Optionally, you can use your organisational experts to independently assess the opportunity teams outcomes to help inform the overall conclusion of an opportunity (recommended for complex opportunities).
Step by Step
Step 1: Start the review. Click the review tab and check “yes ready to review”
Step 2: Assess the Expert review. The opportunity is broken down into 4 themes Customer Desirability, Technical Feasibility, Business Model Viability and Strategic Alignment review these assessments and scores.
Step 2b: Strategic goal alignment. Use the score slider to assess the idea against your company goals to get an indication of the idea’s strategic alignment. Score 1 for minimal alignment and 10 for significant. If there are sub-goals score these. The platform will take the maximum score across all goals to be used in the overall idea score.
Step 3: Learnings (optional). Capture any learnings from the review.
Step 4: Summary statement. Prepare a summary statement and score the opportunity.
Step 5: Process. Finally, decide whether to archive or graduate this opportunity as an Option.
The process validates an opportunity as an option ready for scale or archives it.