Innovation Management vs Idea Management

Management is crucial to an organization. Without proper management, any company will fall to pieces sooner or later. Management is constantly evolving. New techniques are being implemented in the process of managing to increase the productivity and make processes more efficient. Management in today’s age is very different from the traditional management principles. Innovation Management and Idea Management have been around in the industry for some time now. Which one is better? What are the [...]

Idea Screening vs. Idea Scoring

Ideation, idea screening and idea scoring are the first few steps that have to take flight, before a project goes up for approval and execution. No doubt, the course that your project takes is key in determining business success, but generating, screening and scoring serve as a foundation for this to take effect. Let's take a look at two common methods used in the project selection process- idea screening and idea scoring. Idea screening Idea [...]

Idea Screening for Project Portfolio Management

Ideation is an essential process to help your organization progress. Known as the act of developing new concepts and ideas, any employee in your organization can submit their products to the company. You can receive input from partners, customers, marketing executives, sales professionals, as well as IT experts and catalogue these ideas into a single database. What makes ideation a profitable step is the screening and approval process that can help your business perform more [...]

Five Tips for Customer Enthusiastic PMO

When discussing about project management offices (PMOs), one of the most important  factor  is often left untouched- customer service. Outside  the  world of PMO, customer service is often associated with sellers who are trying to escalate their revenues by adding as many customers as possible. Their aim is to attract all kinds of prospective buyers to purchase their products and services. The fact is that PMOs should operate in a similar fashion. However, they need [...]

Utilizing PPM for Constant Business Innovation

Leading multinational companies in many sectors have already started using Project Portfolio Management to drive innovation into their business. Even in difficult economic times, the major force behind increasing profitability, stock value, and gaining competitive advantage is product and service innovation. With the correct portfolio mix, a business is able to meet its own goals and objectives as well as those of the customers. It also enables a business to adjust to the various changes [...]

Critical Success Factors of a Business Development Project

New business development projects are equally important to all organizations, whether to drive profits for a startup, to stay afloat, or to minimize fluctuations. To avoid the feast-and-famine phases undergone by most companies, it is important to consider a few critical success factors that affect any project. Instead of jumping into a temporary marketing solution, it is important to get these factors right to generate long-term results. Forging long-term relationships – Thinking only of quick [...]

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How to Turn Ideas into Viable Business Development Projects

If you are a business leader in your company, you may stumble across several ideas that you believe to have great potential, but only a small portion of these ideas turn into real projects. Many projects fail to materialize because ideas and their executions are not bridged in the right manner. Here is how you can maximize chances of your business idea succeeding. Visualize your goals clearly: Many business ideas are abandoned because their goals [...]

Put your ideas into a portfolio

Many companies are drawn to large brainstorming events, idea campaigns, and open innovation web forums. Some collect ideas as a continuous process. In both cases, the management and post-processing of ideas is a laborious task. Managing ideas as a portfolio makes this task easier and builds a bridge between innovation and implementation. […]