Manage your portfolio

Innovation portfolio is a strategic tool that helps leaders detect ideas and projects that could be de-funded in order to unlock people and resources to work on more promising ideas. The bigger the company, the more important this is. Opportunity costs can rack-up quite fast.

Portfolios consisting of innovative ideas spanning everything from immature ideas that require exploration to ideas with validated demand requiring scaling must be actively managed. They are not “invest and forget” and do not take care of themselves.

Common information to track in a portfolio are idea maturity, idea typology, and revenue potential. Match that with historical data on how long it usually takes you to develop an idea, and how many resources are needed to do so, and you have sufficient information to decide if something is still worth investing in.