{"id":6476,"date":"2018-03-13T10:00:00","date_gmt":"2018-03-13T15:00:00","guid":{"rendered":"https:\/\/blog.planview.com\/?p=6476"},"modified":"2022-04-04T14:04:36","modified_gmt":"2022-04-04T19:04:36","slug":"how-to-measure-innovation-capability","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/how-to-measure-innovation-capability\/","title":{"rendered":"How to Measure Innovation Capability"},"content":{"rendered":"

In part one of this series, \u201cWhy Measure Innovation by Capability<\/a>,\u201d I discussed some key insights from Tech Clarity\u2019s latest whitepaper, 5 Ways to Measure Innovation Performance<\/a>,\u201d and why product leaders need to measure both innovation capability and desired outcomes to improve innovation performance. Now, let\u2019s dive into the first three factors that will help you monitor and improve your organization\u2019s innovation performance, according to Tech Clarity.<\/p>\n

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

Measuring Product I<\/strong>nnovation Capability<\/strong><\/h2>\n
    \n
  1. Innovation Contributions<\/strong>\u2014understand the source of each idea. This is crucial! Every department can have unique customer insights or you may include the participation of external groups, so don\u2019t rely solely on R&D and marketing. Further, uncover the percentage of the innovation portfolio that comes directly from customers as well as the number of initiatives that receive participation and feedback.<\/li>\n
  2. Strategic Portfolio Metrics<\/strong>\u2014monitor how much innovation is in the pipeline and whether or not each initiative is tied to strategic goals. With product portfolio management<\/a> (PPM), you can select the right projects and apply the right resources to ultimately improve visibility and decision making. Objectively measure each objective against the goal it fulfills. Some PPM metrics to consider include strategic fit scores, competitive impact scores, and risk versus reward.<\/li>\n
  3. Calculated Risk Taking<\/strong>\u2014celebrate and learn from failures, while still keeping risk balanced. But keep in mind, failure reasons and risk factors are only valuable if people aren\u2019t afraid to be honest. Understand the extent to which your company\u2019s risk tolerance is leveraged, and whether or not people are playing it safe. Safe bets only bring limited rewards, and often limit innovation.<\/li>\n<\/ol>\n

    Check out part three of this series, “Use PPM to Measure Innovation Capability<\/a>,” where I discuss the final two factors to consider in measuring innovation capability. Find more detail on all five factors in the whitepaper, Top 5 Ways to Measure Product Innovation<\/a>. By using these factors to measure product innovation capability, you can be more confident placing your future initiatives in the spotlight. You may even receive that coveted standing ovation at your next product launch.<\/p>\n","protected":false},"excerpt":{"rendered":"

    In part one of this series, \u201cWhy Measure Innovation by Capability,\u201d I discussed some key insights from Tech Clarity\u2019s latest whitepaper, 5 Ways to Measure Innovation Performance,\u201d and why product leaders need to measure both innovation capability and desired outcomes to improve innovation performance. Now, let\u2019s dive into the first three factors that will help…<\/p>\n","protected":false},"author":82,"featured_media":6478,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":1,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[36],"tags":[],"class_list":["post-6476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-product-development"],"acf":[],"yoast_head":"\nHow to Measure Innovation Capability - Blog | Planview<\/title>\n<meta name=\"description\" content=\"Measure innovation capability to effectively improve innovation performance. 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Read Tech Clarity\u2019s latest whitepaper for all the key insights.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.planview.com\/how-to-measure-innovation-capability\/\" \/>\n<meta property=\"og:site_name\" content=\"Planview Blog\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/pages\/Planview-Inc\/89422974772\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-13T15:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-04T19:04:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.planview.com\/wp-content\/uploads\/2018\/03\/How-to-measure-innovation-capability.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"750\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Cassidy Milder\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Planview\" \/>\n<meta name=\"twitter:site\" content=\"@Planview\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cassidy Milder\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/\"},\"author\":{\"name\":\"Cassidy Milder\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#\\\/schema\\\/person\\\/e4e2e48f5ff6ad6d9ccff913a6b76801\"},\"headline\":\"How to Measure Innovation Capability\",\"datePublished\":\"2018-03-13T15:00:00+00:00\",\"dateModified\":\"2022-04-04T19:04:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/\"},\"wordCount\":352,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/blog.planview.com\\\/wp-content\\\/uploads\\\/2018\\\/03\\\/How-to-measure-innovation-capability.jpg\",\"articleSection\":[\"Product Portfolio Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/\",\"url\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/\",\"name\":\"How to Measure Innovation Capability - Blog | Planview\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/blog.planview.com\\\/how-to-measure-innovation-capability\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/blog.planview.com\\\/wp-content\\\/uploads\\\/2018\\\/03\\\/How-to-measure-innovation-capability.jpg\",\"datePublished\":\"2018-03-13T15:00:00+00:00\",\"dateModified\":\"2022-04-04T19:04:36+00:00\",\"description\":\"Measure innovation capability to effectively improve innovation performance. 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