The objective of the testing phase is to conduct your experiments to prove or disprove your assumptions and transpose those learnings into an initial business case to support the validation of the opportunity.
This phase is an iterative cycle of testing, learning, evaluating and refining until the test team feel satisfied that the assumptions are verified or that there are only marginal gains to be had from further testing. Evaluating each test result and assumption will create learning, such as:
- the potential value of the opportunity,
- how the business model may work and,
- what resources may be needed to actualise
- Run your experiments and document your results. Identify any learnings following the sub-process. Update the status of both your experiments and assumptions.
- Evaluate your results and key learnings. Document observations, the consideration of the potential benefit, resources required to bring to market and the proposed business model in the ‘Field Notes’ section. To do this click the edit icon, make your changes then click Save.
- Transpose learnings and shape an initial business case. There are 3 steps to this:
- Estimate your investment cost required to actualise this opportunity – follow sub-process
- Estimate the financial benefit this opportunity would realise using the financial project table – follow sub-process
- Review the investment appraisal metrics – follow sub-process
- Repeat the process and refine the results while identifying any new assumptions. Continue to test until any new learning is marginal and/or the test team are satisfied that the assumptions are verified to an appropriate level.
- Test Owner makes their recommendations based on their evidence and hands over to the central innovation team for validation and graduation decision.
- Test Owner recommendation - click the edit icon and complete recommendation then press ‘Save’.
- Handover – click the ‘Submit for review’ switch to transfer the test to the control of the innovation team.
The testing phase is now complete, and the test is in the final Validation Phase!