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Planning innovation checklist


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Planning innovation checklist

Like most entrepreneurs, you, probably, have some innovative ideas but you wonder how to bring them to life in your company. Although there's no formula for success, there is planning innovations checklist which helps discover whether you have all the necessary things before you get the innovation project started.

Order 750 checklists in MS Word and PDF printable format at $49.99 USD only. BUY NOW! 

1. Engaging employees in concept generation

  • Stimulate innovative thinking by keeping employees focused on ideas that will bring benefits to your company
  • Provide your employees with a mean that helps to bring their innovative ideas to you, whether it's an online employee forum, brainstorming meeting or suggestion box
  • Ask employees how they would resolve such issues as customer responsiveness, reduced waste and downtime and capturing a new market
  • Collect all suggestions and innovative ideas of your employees

2. Choosing the right innovation project

  • Note that typically with every 10 ideas, there may be only one that provides you with a return on investment of time and money
  • Carefully examine each potential innovation project and determine which one is worthy of your organization's resources
  • Choose the right project keeping in mind such pay-off criteria as better customer service, increased profits, long-term growth or sharpened competitive edge
  • Consider to engage an external consultant that can help create a shortlist and ensure its feasibility

3. Assessing impact and feasibility

  • Ensure that impact on the project stakeholders (employees, customers, sponsors, and others) is carefully assessed
  • Consider conducting of additional employee training to ensure they are ready for innovation
  • Provide sponsors and customers with information support on the project

4. Planning to achieve results

  • Define and clearly understand the challenges in chosen project
  • Outline the results you want to attain and establish realistic deadlines
  • Plan for appropriate financing of the project
  • Engage financial resources through such ways as public funds or grants, personal investment, external financial sources, business incubators and more
  • Develop the strategy to use your human resources the best way
  • Use basic project management practices that will help monitor the project execution and work within assigned budget

5. Team building: choosing managers

  • Select the project team leader and supervisors who are able to do the following duties:
    • establishing project targets, organizing brainstorming activities and managing project resources
    • assigning budgets and ensuring that the team stays on target
    • assigning tasks to the team members
    • tracking task performance and monitoring results
    • adapting the strategy to respond to new opportunities

6. Team building: choosing project team participants

  • To build an effective team, be focused on the following points:
    • personnel that communicates directly with clients
    • specialists who can consult you about the technical feasibility of your initiatives
    • researchers who can advise you on gathering vital information about markets, competitors, customer needs, and supplier
    • major customers who are loyal to provide you with direct feedback
    • suppliers who are concerned to the process you are changing

7. Testing and monitoring progress

  • Ensure that you have clearly outlined how the initiative will be realized with measurable goals and milestones
  • Launch customer pilot studies to get real client feedback and refine the project before full implementation
  • Build a prototype or working model to make improvements to the project product before full production runs
  • Make amendments to the project once any problems with the product are solved

8. Getting results

  • Note that any innovation project should demonstrate measurable results, even they are intangible such as better employee satisfaction or improved business ...

    Order 750 checklists in MS Word and PDF printable format at $49.99 USD only. BUY NOW! 

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