{"id":5467,"date":"2017-11-23T09:30:00","date_gmt":"2017-11-23T15:30:00","guid":{"rendered":"https:\/\/blog.planview.com\/?p=5467"},"modified":"2017-12-12T16:05:18","modified_gmt":"2017-12-12T22:05:18","slug":"innovation-metrics-benchmarking-success","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/innovation-metrics-benchmarking-success\/","title":{"rendered":"Innovation Metrics: Benchmarking Success"},"content":{"rendered":"

Everyone likes to talk about innovation, but how do you measure it? How do you know whether or not your innovation program is performing well? And which innovation metrics will drive the right behavior to achieve your organization\u2019s strategic goals<\/a>?<\/p>\n

While I am a firm believer in focusing on outcomes in order to achieve both personal and professional success, I also think it\u2019s critical to measure progress along the way to make potential course corrections as needed. Whether it is saving money to buy your first house, training for a marathon, or improving your skills to get that next promotion, it requires a vision of the end result and milestone metrics along the way. The same holds true for innovation.<\/p>\n

Many companies make the mistake of focusing solely on financial metrics surrounding the launch of new products as a means to measure innovation.\u00a0 And while that certainly isn\u2019t wrong \u2013 it\u2019s why we\u2019re all in business, right \u2013 it\u2019s only part of the story.<\/p>\n

\"Innovation<\/a><\/p>\n

Other companies swing to the other end of the pendulum and focus on the front end of innovation (FEI), measuring the number of new ideas submitted and how many votes each idea received.\u00a0 It is really easy to get enamored with ideation and filling the funnel with new, innovative ideas from across the company.\u00a0 But here again, it\u2019s not enough by itself and won\u2019t guarantee innovation success.<\/p>\n

The answer to \u201cWhich innovation metrics should I measure?\u201d lies in both.\u00a0 Innovation metrics should span the entire product development process (PDP), and extend beyond the process to include influencing factors and KPI\u2019s around strategy, culture, environment, and risk.\u00a0 It\u2019s not an easy endeavor to determine the right innovation metrics to move the needle forward, but it IS possible and the payoff is huge when you make innovation a repeatable and predictable capability within your organization.<\/p>\n

This is such hot topic these days that we asked our friend, Jim Brown<\/a>, at Tech-Clarity<\/a> to help us take a deeper dive.\u00a0 Get your company\u2019s innovation metrics in alignment with your innovation strategy to start 2018 with a bang by joining us for our upcoming webcast, Stop Measuring Innovation via the Rearview Mirror: Innovation Metrics that Drive Performance<\/a>.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Everyone likes to talk about innovation, but how do you measure it? How do you know whether or not your innovation program is performing well? And which innovation metrics will drive the right behavior to achieve your organization\u2019s strategic goals? While I am a firm believer in focusing on outcomes in order to achieve both…<\/p>\n","protected":false},"author":15,"featured_media":5469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[36],"tags":[371,410],"class_list":["post-5467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-development","tag-tech-clarity","tag-webcast"],"acf":[],"yoast_head":"\nInnovation Metrics: Benchmarking Success - Blog | Planview<\/title>\n<meta name=\"description\" content=\"It's not an easy to determine the right innovation metrics to move the needle forward. 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