Many product organizations have some type of Project Management Office (PMO), even if they refer to it by a different name. The PMO is a critical component to a successful product delivery, yet it often carries a reputation for being heavy-handed policy enforcers. When focused on the right things, the PMO plays a pivotal role in driving innovation process excellence and ensuring profitability.
Product innovation shouldn’t be scary. But if you don’t know where projects are throughout the development process, those projects could be as good as gone. This article considers how the level of visibility organizations have into a product as it progresses through the full commercialization process directly relates to its success. What steps can organizations take to expand their field of vision into product lifecycles and how can having a single source of truth be the light in the darkness?
The Fourth Product Portfolio Management Benchmark Study identified challenges organizations face in speeding innovation to bring products to market. The biggest disconnect appears between middle management and executives as to where the organization is with their innovation maturity. Bridging this gap may be the most important thing you do to improve ROI.
The fall conference season is winding down and this year I’ve had the privilege of attending and speaking at some great innovation events, sharing the newly launched Innovation Management Maturity Model™. From regional PDMA meetings in Dallas and Atlanta, to the national PDMA PIM conference, the Optimizing Innovation conference in NYC, to the Planview Horizons Annual Customer Conference, it’s been a brain-filling couple of months.
Imagine sailing in the World Cup race without a strategic plan or a map. It is a sport where speed is of the essence, decisions (and perhaps more importantly the timing of those decisions) are paramount, and team talents must be optimized at any moment. With competitors abound displaying their impressive spinnakers and advanced technology–only the risk takers advance. The will to win is apparent, yet without a strategy and a map, a team would drift into execution mode and lose the race.
The more things change, the less they do. This is the reality that the 4th Benchmark Survey on Product Portfolio Management has uncovered: product organizations reveal that they face an ever-tightening vice grip of market pressures without a corresponding increase in the quality or availability of those factors that would enable speeding innovation in the face of those pressures. Watch this IM Channel One Ask the Expert Q&A Webcast and learn about tangible methods to build a road map for sustainable innovation.
You might talk the talk of innovation. But do you walk the walk? Or, more realistically, are you doing some herky-jerky semblance of a walk that’s not getting you very far?
How can companies acquire greater maturity in the use of information? Ground-breaking research reveals some answers. Following an ambitious program of “field” research – involving more than 1200 managers in more than 100 companies across 26 economic sectors and 40 countries – we at IMD have scientifically demonstrated a causal link between a company’s performance and its maturity with regard to its “information orientation” (IO)