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. In order to ensure a plentiful outcome, the plan for its completion must be flawless. First, it is vital that a main "problem" or fault in the project's plan is found. The Innovation Management Matrix is a useful tool in evaluating innovative projects that are currently being considered.
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Innovation is an adventure that is full of risk-taking, since it could involve ideas or plans that have never been tried before.
What is the purpose of the Innovation Management Matrix? A problem is not identified, yet the method of action seems apparent. The problem is not identified, nor is a method of solving it.ĭisruptive Innovation: These are innovation projects involving the highest risk, since their value is not immediately obvious.
The problem is identified, but it is unknown how it can be solved or who can solve it. The Innovation Management Matrix can be described as a matrix with the following quadrants:īreakthrough Innovation: These are innovation projects that could prove to be valuable. What is the Innovation Management Matrix?Ī visual explanation is shown in the image above.
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