The Innovation Management Matrix can be helpful to anyone handling many innovative projects at one time. This matrix assists the user in identifying which projects are the most likely to be solved and completed; it also aids in recognizing with projects will be worth the effort and will pay off in the end.
INNOVATION MANAGEMENT MATRIX INFO
- PROBLEM DEFINED; DOMAIN NOT DEFINED
Breakthrough Innovation: These are innovation projects that could prove to be valuable. The problem is identified, but it is unknown how it can be solved or who can solve it.
- PROBLEM DEFINED; DOMAIN DEFINED
Sustaining Innovation: These are valuable innovation projects. The problem is identified, and the method of solving the problem has been found.
- PROBLEM NOT DEFINED; DOMAIN NOT DEFINED
Basic Research: These innovation projects involve research until a problem can be defined. The problem is not identified, nor is a method of solving it.
- PROBLEM NOT DEFINED; DOMAIN DEFINED
Disruptive Innovation: These are innovation projects involving the highest risk, since their value is not immediately obvious. A problem is not identified, yet the method of action seems apparent.
INNOVATION MANAGEMENT MATRIX TEMPLATE
Innovation is an adventure that is full of risk-taking, since it could involve ideas or plans that have never been tried before. The Innovation Management Matrix is a useful tool in evaluating innovative projects that are currently being considered. First, it is vital that a main “problem” or fault in the project’s plan is found. In order to ensure a plentiful outcome, the plan for its completion must be flawless. Any problems that could interfere with the project’s success must be brought to light, and then a method of solving that problem must be decided upon. Depending on the nature of the problem, such methods can include 1) finding a person who has the capabilities of discovering a solution, 2) working with an experienced team to find a solution, or 3) spending time analyzing the problem and deciding upon viable solutions. When an innovation has a problem that is identified and resolved, it is the most solid and “sustaining” innovation.
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INNOVATION MANAGEMENT MATRIX IN PRIORITY MATRIX
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