MOOC How to Translate Your Strategy into a Project Portfolio Plan Flashcards
Portfolio management
Selecting the right projects for innovation and is key for the future of companies
Innovation funnel
Investigations (screen 1 and 2) - select and rank
Development (screen 3)
Shipping products
Reactive approach
Collect ideas and concepts for innovation projects. Define criteria for selection and give weights - then final selection
May end up with unbalanced set of projects
Proactive approach
Solves radical innovations
- Budget for innovation
- Buckets for alternative opp. areas
- Define criteria per bucket
- Classify and choose projects
Buckets
Opportunity areas and time horizons for which innovations are developed
Two types of patents
Utility patents
Design patents
Utility patent
Give firm right to exploit commercially for period of around 20 years
Conditions: new, useful, not obvious
Design patent
Visual shape of object - around 15 years. If in the eyes of an ordinary observer who gives similar attention as a normal purchaser, two designs are not substantially the same
Copyrights
Granted for all sorts of intellectual works; texts, music or art
Apply for life of author + 70 years and are automatically granted
Trademarks
Trademarks or logos signal origin of product or service - provide brand protection but rarely protect design or product service itself
Secrecy
Keep intellectual property secret - away from sight
Open source
Deliberately opening up intellectual property to other inventors or public e.g. linux
NPV
Net present value - expected future revenues and expected costs (risk factor and discounted)
Real options approach
Innovation project only considered as an option to create an opportunity to commercialise and innovation if circumstances look good - waiting OK
