Innovation Project Management: Methods, Case Studies, and Tools for Managing Innovation Projects

620 Pages·2023·15 MB·English

by  Harold Kerzner

INNOVATION PROJECT
MANAGEMENT
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I N N OVAT I O N
P RO J E C T
M A N AG E M E N T
Methods, Case Studies, and Tools
for Managing Innovation Projects
Second Edition
HAROLD KERZNER, PH.D.
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This second edition first published 2023
© 2023 by John Wiley & Sons Inc. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
Edition History
Innovation Project Management, 1e, John Wiley & Sons, Inc. 2019
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Library of Congress Cataloging-in-Publication Data
Names: Kerzner, Harold, author.
Title: Innovation Project Management : Methods, Case Studies, and Tools for Managing Innovation
Projects/Harold Kerzner
Description: Hoboken, NJ: John Wiley & Sons, 2023. | Includes bibliographical references and index.
Identifiers: LCCN 2022063043 (print) | LCCN 2022063044 (ebook) | ISBN 9781119931249 (hardback) |
ISBN 9781119931263 (pdf) | ISBN 9781119931256 (epub) | ISBN 9781119931270 (ebook)
Subjects: LCSH: Art and Architecture.
Classification: LCC QR111. P333 2023 (print) | LCC QR111 (ebook) | DDC 579/.1757--dc23/eng/20230304
LC record available at https://lccn.loc.gov/2022063043
LC ebook record available at https://lccn.loc.gov/2022063044
Cover Design: Wiley
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Set in 10/12.5pt Times LT Std by Integra Software Services Pvt. Ltd, Pondicherry, India
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To
my wife, Jo Ellyn,
for years of ongoing love,
support, and understanding
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Contents
Preface xv
1 INTRODUCTION TO INNOVATION PROJECT MANAGEMENT 1
Introduction 1
Definitions for Innovation 2
The Business Need 4
Innovation Literature 6
Project Management Literature 7
Innovation Benchmarking 8
Value: The Missing Link 10
Innovation Targeting 12
Timeline for Innovation Targeting 13
Innovation in Small Companies 14
Seven Critical Dimensions for Scaling Project Management Innovation 14
Implications and Issues for Project Managers and Innovation Personnel 16
2 TYPES OF INNOVATION 19
Introduction 19
Continuous Versus Discontinuous Innovation 20
Incremental Versus Radical Innovation 21
Understanding Innovation Differences 22
Incremental Innovation Versus New Product Development 23
Product Development Innovation Categories 23
Closed and Open Innovation 25
Crowdsourcing 27
Co-Creation Innovation 29
Open Innovation in Action: Airbus and Co-creation Partnerships 35
vii
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viii CONTeNTS
Value (Or Value-Driven) Innovation 37
Agile Innovation 38
Agile Innovation in Action: Deloitte 40
Government Innovation 47
Financial Innovation 50
Healthcare Innovation 51
Brand Innovation 53
Sustainable Innovation 53
Humanitarian/Social Innovation 54
Social Innovation in Action: Hitachi 55
educational Innovation 57
Manufacturing Innovation 58
A Case Study 60
Nontechnical Innovation in Action 60
Other Categories of Innovation 62
Role of the Board of Directors 66
Finding an Innovation Project Sponsor 66
Implications and Issues for Project Managers and Innovation Personnel 67
3 INNOVATION AND STRATEGIC PLANNING 69
Introduction 69
Role of the Innovation Project Manager in Strategic Planning 70
Role of the Portfolio PMO 70
Business Impact Analysis 71
Innovation Maturity Models 71
Types of Strategies 73
Role of Innovation in Strategic Planning 74
Role of Marketing in Strategic Innovation Planning 75
Product Portfolio Analysis 76
Identifying Core Competencies Using SWOT Analysis 82
Innovation Project Management Competency Models in Action: eli Lilly 84
Marketing’s Involvement with Innovation Project Managers 95
Product Life Cycles 97
Classification of R&D Projects 97
Research Versus Development 98
The Research and Development Ratio 99
Offensive Versus Defensive Innovation 100
Modeling the R&D Planning Function 101
Priority Setting 105
Contract R&D 107
Nondisclosure Agreements, Secrecy Agreements, and Confidentiality Agreements 108
Government Influence 108
Sources for Innovation Technology 109
Sources of Ideas 110
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Contents ix
The Project Manager’s Role in Developing Innovation Skills and Ideas in People 112
establishing a Project Selection Criteria 114
Project Selection Issues 115
economic evaluation of Projects 116
Role of the Project Manager in Project Selection 119
Project Selection and Politics 124
Project Readjustments 126
Project Termination 127
Implications and Issues for Project Managers and Innovation Personnel 127
4 INNOVATION TOOLS AND PROCESSES 129
Introduction 129
New Product Development 130
The Fuzzy Front end 131
Prioritizing Product Features 133
Line of Sight 134
Misalignment Issues 135
Risk Management 137
The Innovation Culture 140
Innovation Functional Units 145
Innovative Cultures and Corporate Leadership 145
Idea Generation 146
Spinoff Innovations 147
Understanding Reward Systems 148
Innovation Leadership in Action: Medtronic 149
IPM Skills Needed 152
Design Thinking 155
Brainstorming 157
Whiteboarding 163
Mind Maps 163
Active Listening 165
Pitching the Innovation 167
Cognitive Biases 167
Prototypes 168
Creativity and Innovation Fears 170
Innovation Governance 170
Corporate Innovation Governance Risks 171
Transformational Governance 174
Balanced Scorecard 175
Strategy Maps 176
Innovation Portfolio Management 177
Innovation Sponsorship 179
The Innovation Team 180
Virtual Versus Co-Located Innovation Teams 181
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