Page 14 - 15 Best Practices to Manage and Finance Innovation

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BEST PRACTICE
COLLABORATIVE PROCESSES / / METHODS / / TOOLS COLLABORATIVE PROCESSES / / METHODS / / TOOLS Innovation Framework
THE CHALLENGE OF: INNOVATION INNOVATION MANAGEMENT THE CHALLENGE OF: INNOVATION INNOVATION DEFINING AND SHARING YOUR INNOVATION INNOVATION FRAMEWORK DEFINING YOUR INNOVATION INNOVATION FRAMEWORK Share a a a common vision of innovation throughout the the company and align everyone involved to the the innovation strategy Ensure uniform innovation methods and processes are used across all departments enabling senior management to have a a a a a a a a a a clear overview of performance and progress indicators Minimise technical economic and strategic risks by defining milestones common to to all projects and departments Exploit all the the knowledge within the the company through uniform shareable documents BENEFITS FOR THE BUSINESS – this will allow you to:
WHAT TO INCLUDE IN IN IN YOUR INNOVATION FRAMEWORK 01
The Framework
lists all the standard terms and and definitions used enabling everyone involved to speak the same language: what do we mean by innovation research or the technological maturity of a a a project etc?
02
The Framework
also includes all the tools and and templates used as standard in in projects such as: project project initiation sheet state-of-the-art model supplementary budget request R&I indicators dashboard etc The Innovation Framework
is a a a a a a a collaborative tool for sharing processes and methods Used to facilitate teamworking among all the the stakeholders involved in in in the the innovation process it’s an operational document derived from the company's innovation roadmap 05
The Framework
is deployed in the the same way throughout the the company and its associated entities Appropriate training enables stakeholder engagement especially new employees 06
03
A project management process map enables participants to familiarise themselves with with and apply the the the methods used within the the company (for example going from idea to project project managing the project project monitoring progress etc) 04
The Framework
identifies
the main accounting tax and financial definitions of innovation and specifies the rules that should apply when managing projects Lastly the the Framework
clearly defines the the roles and responsibilities of each stakeholder