Innovation Project Management

This program describes the relationship that needs to be established between innovation, business strategy, and project management to turn a creative idea into a reality. 

We will explore the importance of identifying the components of an innovative culture, existing differences, challenges, and the new set of skills needed in innovation project management.

Companies need growth for survival. Companies cannot grow simply through cost reduction and reengineering efforts. Innovation is needed and someone must manage these innovation projects. Over the past two decades, there has been a great deal of literature published on innovation and innovation management.

Converting a creative idea into reality requires projects and some form of project management. Unfortunately, innovation projects, which are viewed as strategic projects, may not be able to be managed using the traditional project management philosophy we teach in our project management courses.

There are different skill sets needed, different tools, and different life-cycle phases. Innovation varies from industry to industry and even companies within the same industry cannot come to an agreement on how innovation project management should work.

This program describes the relationship that needs to be established between innovation, business strategy, and project management to turn a creative idea into a reality.

We will explore the importance of identifying the components of an innovative culture, existing differences, challenges, and the new set of skills needed in innovation project management.

Who Should Attend

This program is designed for:

• Project Managers

• Innovation Team Members

• People responsible for innovation goverance

What You Will Learn

• Explain the links needed to bridge innovation, project management, and business strategy

• Describe the different types of innovation and the form of project management each require

• Identify the differences between traditional and innovation project management, especially regarding governance, human resources management challenges, components of an innovative culture and competencies needed by innovation project managers

• Establish business value and the importance of new metrics for measuring and reporting business value

• Relate innovation to business models and the skills needed to contribute in the business model development

• Recognize the roadblocks affecting innovation project management and their cause to determine what actions can be taken

• Determine the success and failure criteria of an innovation project