Managing Innovation to Increase Predictability

Companies want predictability in planning, measuring, and managing innovation, while meeting financial goals. Yet to maintain an edge or capture new opportunities, organizations need to plan for unpredictable innovation projects. A portfolio management approach to innovation can help companies balance these seemingly conflicting goals. But most portfolio management tools are merely descriptive, instead of prescriptive to actively shape the innovation pipeline. This session will explore the portfolio management framework that PARC, a Xerox company, developed to provide a holistic overview and quantitative assessment of diverse innovation projects. PARC will discuss how you can adapt the principles and strategies to your business and how such a framework fosters productive discussions among multiple stakeholders around risk and return, resource prioritization, and goal progress.