Picking the right development projects and platforms to invest in is at the heart of successful product innovation. But effective project selections or portfolio management hinges on having a clearly defined and communicated product innovation and technology strategy for your business: which markets, technologies or products should you focus your R&D efforts on? Join this insightful course and learn how to develop effective and profitable product innovation strategies for your business.
This course is designed for executives, R&D managers, experienced innovators and anyone else with responsibilities for maximizing the returns on their product innovation efforts.
About this course
Maximizing the return on your product innovation investments hinges entirely on your business’s ability to consistently pick the right development projects, technologies and platforms to invest in. This is no easy task. New Product Portfolio Management is fast becoming the most effective way to simplify this complex process — especially when coupled with a clearly defined Product Innovation Strategy. Your company can drive more value and productivity into your portfolio of product innovation projects. Attend this course and learn how to double your portfolio’s value simply by using productivity metrics when selecting projects and by reallocating resources to fewer projects. Learn how to link your new product portfolio to your company’s strategy so it produces meaningful competitive advantages. Join us in this course and learn how to ensure scarce resources are consistently allocated to the most meritorious and strategic projects.
- Developing a product innovation strategy and how it impacts on product innovation performance.
- Defining your strategy – which markets, technologies and project types do you focus your product development efforts on?
- Developing your strategic product and technology roadmap.
- Understanding the tools to use for effective gates and portfolio reviews.
- Ranking and prioritizing of projects – picking the winners.
- Using strategic buckets for more effective resource allocation.
Why you and your colleagues should attend
- Achieve high IMPACT by prioritizing projects with the greatest strategic alignment.
- Achieve greater return on your product innovation investment with improved project selection – PROFITABLE projects that are also strategically important to the company.
- Optimize scarce resources – FOCUS ideation and innovation efforts on problems that are important to solve.
- Achieve the necessary BUY-IN to your product innovation and technology strategy – do it right the first time – use a world-class approach.
- RECHARGE the way your management team thinks about the way product innovation can add value to the company.
In this 2-day course you will learn how to…
- Develop a product innovation strategy to focus your business’s product development effort.
- Define clear and meaningful goals and objectives for product innovation.
- Define areas of strategic focus for innovation – deciding where to invest and which area to avoid – to better direct focused project selection decisions.
- Develop and use product and technology roadmaps and strategic buckets to help make R&D resource allocation decisions.
- Translate your strategy into action by picking the right development projects to invest in.
- Maximize the productivity of your development portfolio through an effective portfolio management system.
Day 1 - A Product Innovation Strategy for Your Business & Strategic Portfolio Management
Picking the right development projects and platforms to invest in is at the heart of successful product innovation. But effective project selection or portfolio management hinges on having a clearly defined and articulated product innovation and technology strategy for your business. It begins with goals for product innovation and how innovation ties into your business goals. Next are the arenas of strategic focus –in which markets, technologies or products should you focus your R&D efforts? Put more briefly, what’s “in bounds” versus “out of bounds”, where do you invest and where are your “search fields” for great ideas? Deployment is a major component of strategy development: Strategy becomes real when you start spending money. Spending splits and the right balance of spending across project types (new products versus improvements and extensions) and across market segments and product lines are the topics here. Selecting major initiatives and developing the strategic product road-map is also a topic, so in the latter part of Day 1, we shift into our first look at best practices in project selection with a focus on methods to optimize the portfolio.
Day 2 - Deciding Your Development Portfolio
Portfolio Management is about resource allocation in your business. That is, which new product and development projects from the many opportunities the business faces should it fund? And which ones should receive top priority and be accelerated to market? It is also about business strategy, for today’s new product projects decide tomorrow's product-market profile of the firm. Finally, it is about balance; about the optimal investment mix between risk versus return, maintenance versus growth, and short term versus long term product projects. The five goals we tackle in effective portfolio management are:
• To maximize the value of your development portfolio –to pick the right development projects
• To ensure strategic alignment
• To seek the right balance of projects
• To ensure portfolio sufficiency versus your overall product innovation goals
• To balance the number of projects with resources available –not overloading the pipeline.
Best practice methods to decide which projects to invest in and how to allocate scarce resources are highlighted in order to achieve these five goals.
Course material will be available digitally. It will be accessible, convenient and mobile. Our digital course material allows you to study wherever and whenever you want. It will also help reduce our impact on the environment.
Avbokning kan göras kostnadsfritt fram till åtta veckor innan starten för programmet/kursen. Om avbokning sker senare utgår avgifter för beställaren enligt följande:
- 0-2 veckor innan starten för programmet/kursen: 100% av program-/kursavgiften
- 2-4 veckor innan starten för programmet/kursen: 50% av program-/kursavgiften
- 4-8 veckor innan starten för programmet/kursen: 25% av program-/kursavgiften. För kurser inom Sjöfart: 0% av program-/kursavgiften
Avbokningen måste ske skriftligen. Avbokning av logi sker i enlighet med hotellens avbokningsregler. Vi accepterar en kollega som ersättare för den ursprungliga deltagaren.