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	<title>Project management Archives &#8226; Verhaert Masters in Innovation</title>
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	<title>Project management Archives &#8226; Verhaert Masters in Innovation</title>
	<link>https://verhaert.com/category/blog/project-management-blog/</link>
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		<title>How project-based multidisciplinary teams drive product innovation success</title>
		<link>https://verhaert.com/insights/blog/pm/how-project-based-multidisciplinary-teams-drive-product-innovation-success/</link>
		
		<dc:creator><![CDATA[Laurien Wolfswinkel]]></dc:creator>
		<pubDate>Mon, 08 Dec 2025 09:36:54 +0000</pubDate>
				<category><![CDATA[Project management]]></category>
		<category><![CDATA[Product innovation]]></category>
		<category><![CDATA[Innovation capacity]]></category>
		<category><![CDATA[Innovation methodology]]></category>
		<category><![CDATA[Product strategy]]></category>
		<guid isPermaLink="false">https://verhaert.com/?p=41558</guid>

					<description><![CDATA[<p>Learn how multidisciplinary project managers guide cross-functional teams, minimize risks and accelerate product innovation development.</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/how-project-based-multidisciplinary-teams-drive-product-innovation-success/">How project-based multidisciplinary teams drive product innovation success</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/how-project-based-multidisciplinary-teams-drive-product-innovation-success/">How project-based multidisciplinary teams drive product innovation success</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>In product innovation, technical feasibility is only one dimension of success. Innovation only succeeds when organizations combine the right expertise with structured project leadership, ensuring that multidisciplinary insights are applied at the right time. Many technically promising concepts fail because they do not address customer needs, are difficult to manufacture at scale, or create cost or quality risks that only surface once other departments get involved. Let&#8217;s dive into a few key strategies to avoid this.</strong></p>
<p><img decoding="async" class="alignnone wp-image-33447" style="margin-bottom: 20px;" src="https://verhaert.com/wp-content/uploads/2025-Blog-template-Multidisciplinary-project-teams.png" width="762" data-wp-editing="1" /></p>
<h2 style="margin-top: 10px;"><b>Early cross-functional involvement prevents late surprises</b></h2>
<p><span style="font-weight: 400;">In many organizations, development still follows a linear ‘relay race’ approach. Engineering works out the solution, and only after major decisions are fixed do departments like production, quality, purchasing or sales evaluate the impact. By that point, even well-founded input may require redesigns that are costly or impractical.</span></p>
<p>In many of the product development projects we&#8217;ve worked on, we&#8217;ve seen that <strong>involving multiple disciplines from the start acts as an early-warning system.</strong> Teams detect mismatches between technical feasibility, commercial viability, and operational complexity sooner, allowing scope, positioning, or solution direction to be adjusted before significant resources are committed. This is why structured early involvement is so critical — the opportunity to pivot is greatest before design decisions solidify.</p>
<h2 style="margin-top: 10px;"><b>Clear roles accelerate decisions and reduce risks</b></h2>
<p><span style="font-weight: 400;">Successful multidisciplinary teams are not undefined collectives; they operate with clear roles anchored to project deliverables. <strong>A structured setup helps each discipline raise concerns before they become issues.</strong> For example, in consumer products, the purchasing department can signal long-lead or volatile components before commitments are made. In high-tech equipment, the quality department can verify whether early design choices meet regulatory expectations before the team invests further.</span></p>
<p><strong>Project managers with broad innovation experience play an essential role here.</strong> They facilitate trade-offs, keep decisions transparent and ensure that information flows across disciplines instead of becoming siloed. This coordination prevents teams from progressing at different speeds or making assumptions that conflict later.</p>
<h2 style="margin-top: 10px;"><b>Active engagement strengthens team performance</b></h2>
<p><span style="font-weight: 400;">When team members are involved from the beginning and understand how their input shapes the product, ownership naturally increases. In practice, <strong>this often turns experts into internal ambassadors for the product:</strong> engineers see their constraints addressed early, production teams see their concerns incorporated into the design, and commercial stakeholders see customer insights reflected in real decisions. Motivation rises not because of extra effort, but because <strong>expertise has a direct impact.</strong> Collaboration strengthens, frustrations decrease and milestones feel shared rather than departmental.</span></p>
<h2 style="margin-top: 10px;"><b>Early insight prevents late disappointments</b></h2>
<p><span style="font-weight: 400;">A multidisciplinary setup is also a powerful early-warning mechanism. Teams recognize much sooner when a concept may lack commercial viability, even if it is technically promising. Identifying these signals early allows for <strong>timely adjustments to scope, positioning or solution direction</strong> before significant resources are committed.</span></p>
<h2 style="margin-top: 10px;"><b>Skilled project leadership pays off</b></h2>
<p><span style="font-weight: 400;">Guiding multidisciplinary innovation requires project managers who can move confidently between technical, commercial and organizational perspectives. In many projects, late feedback loops, late risk discovery and misaligned priorities are common pitfalls. <strong>Skilled project managers change this dynamic by bringing key disciplines into the conversation from the start.</strong> When manufacturing highlights assembly constraints early or marketing tests assumptions with customers during concept shaping, development becomes a parallel process rather than a chain of handovers. These structured interventions help teams gain early clarity, make informed trade-offs and progress together effectively.</span></p>
<p><strong>Thanks to the experience across different product domains, project managers can recognize recurring patterns:</strong> where risks typically hide, which decisions require which experts and how to structure collaboration so teams stay aligned even under pressure.</p>
<h2 style="margin-top: 10px;"><b>Structured innovation drives measurable results</b></h2>
<p><span style="font-weight: 400;">At <span style="text-decoration: underline;"><a href="https://beacon.nl/" target="_blank" rel="noopener">BEACON Verhaert Nederland</a></span>, project managers apply this expertise on-site within client organizations, helping to structure innovation projects, strengthen cross-functional teamwork, and support companies in building an approach they can continue to use long after the project ends.</span></p>
<p>If you want to strengthen your product innovation process or explore support for an upcoming project, get in touch with Michiel!</p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/how-project-based-multidisciplinary-teams-drive-product-innovation-success/">How project-based multidisciplinary teams drive product innovation success</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/how-project-based-multidisciplinary-teams-drive-product-innovation-success/">How project-based multidisciplinary teams drive product innovation success</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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		<title>From product to organization: The reach of breakthrough innovation</title>
		<link>https://verhaert.com/insights/blog/pm/from-product-to-organization-the-reach-of-breakthrough-innovation/</link>
		
		<dc:creator><![CDATA[Quintijn Innikel]]></dc:creator>
		<pubDate>Mon, 22 Sep 2025 14:40:55 +0000</pubDate>
				<category><![CDATA[Project management]]></category>
		<category><![CDATA[Product innovation]]></category>
		<category><![CDATA[Innovation capacity]]></category>
		<category><![CDATA[Innovation methodology]]></category>
		<category><![CDATA[Product strategy]]></category>
		<guid isPermaLink="false">https://verhaert.com/?p=41161</guid>

					<description><![CDATA[<p>Breakthrough product innovation requires validation, the right team, and organizational readiness. See how to turn ideas into market success.</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/from-product-to-organization-the-reach-of-breakthrough-innovation/">From product to organization: The reach of breakthrough innovation</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/from-product-to-organization-the-reach-of-breakthrough-innovation/">From product to organization: The reach of breakthrough innovation</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>Markets evolve at unprecedented speed. New technologies, shifting customer expectations and bold competitors continually reshape industries. To stay relevant, companies must go beyond incremental improvements. They need to explore opportunities that challenge boundaries and sometimes the very way they operate. Breakthrough innovations are central to this endeavor. They do more than enhance existing offerings. They create entirely new directions, redefine business models, generate fresh revenue streams and strengthen competitive advantage. The challenge is that these innovations often lie outside the comfort zone of established structures. They demand fresh thinking, new capabilities and organizational transformation.  </strong></p>
<p><img decoding="async" class="alignnone wp-image-33447" style="margin-bottom: 20px;" src="https://verhaert.com/wp-content/uploads/2025-Blog-template-Breakthrough-innovation.png" width="762" data-wp-editing="1" /></p>
<h2 style="margin-top: 10px;"><b>Pitfall: Rushing into development</b></h2>
<p><span style="font-weight: 400;">When a new idea emerges, it can be tempting to start building right away. <strong>Yet the greatest risk in breakthrough innovation is rarely technical.</strong> The real uncertainty lies in market adoption. Will the solution meet a genuine need? Will customers embrace it? Success begins with validation. Only when ideas prove their value should significant resources be committed.</span></p>
<h3><strong><b>Step 1: Validate your idea</b></strong></h3>
<p><span style="font-weight: 400;">Early validation is critical. Systematic testing – through targeted engagement with potential users, simplified prototypes and iterative learning – confirms that an innovation meets market needs. Methods such as the <strong>Lean Startup approach</strong> emphasize starting small, measuring results and iterating quickly. This ensures development focuses on solutions that deliver real impact, reducing risk and improving the chances of success.<br />
</span></p>
<h3><strong><b>Step 2: Build the right team</b></strong></h3>
<p><span style="font-weight: 400;">Once an idea has been validated, the next step is development. Breakthrough innovations rarely fit within standard project structures. Teams that handle regular operations may lack the skills or perspective needed for a completely new approach. <strong>It is crucial to assemble a team with the right expertise, complemented where needed by external partners.</strong></span></p>
<p><span style="font-weight: 400;">Innovation project management is central here. <strong>On-site project managers with broad cross-functional knowledge act as coordinators.</strong> They align market insights, technical development and organizational readiness. They implement requirements management early to define, track and communicate what the solution must achieve. PMs keep the team focused on validated objectives while allowing flexibility to adapt as new insights emerge. By embedding experienced project managers directly in the project, <strong>companies combine creative innovation with structured oversight</strong>, significantly increasing the likelihood of success.</span></p>
<h3><strong><b>Step 3: Prepare the organization</b></strong></h3>
<p><span style="font-weight: 400;">Bringing a breakthrough innovation to market often requires organizational change. Operational processes, supply chains, quality systems and workflows must be adapted to support the new solution. <strong>Knowledge gaps must be filled, and teams equipped to work in unfamiliar contexts.</strong> On-site project managers continue to play a key role. They coordinate between development and operations, ensure requirements are implemented as intended and support real-time problem-solving across departments. <strong>This integrated approach strengthens organizational readiness.</strong> It enables smoother handovers, efficient scaling and ultimately increases the chances that innovation succeeds in the market.</span></p>
<h2 style="margin-top: 10px;"><b>From concept to market win</b></h2>
<p><span style="font-weight: 400;"><strong>Breakthrough innovations are essential to staying competitive in fast-moving markets</strong>, but they come with unique challenges. Success hinges not only on developing a technically sound solution but also on validating ideas early, assembling capable teams and preparing the organization to bring it to market.</span></p>
<p><span style="font-weight: 400;">What often makes the difference is how these efforts are connected. Strong project management keeps complex innovation journeys on track. Deep product innovation expertise provides the strategy, technology and development needed to deliver the solution itself. <strong>One without the other leaves gaps.</strong> Together, they ensure bold ideas are not only imagined but also executed and scaled successfully.</span></p>
<p><span style="font-weight: 400;"><strong>By combining the discipline of project management with the creativity and depth of product innovation,</strong> companies can reduce risk, accelerate progress and turn ambitious ideas into lasting impact. Breakthroughs are never easy, but with the right balance of structure and expertise, they can reshape products, organizations and markets alike.</span></p>
<p>&nbsp;</p>
<p><span style="font-weight: 400;">Ready to bring your idea to market with multidisciplinary expertise in both product innovation and project management? Let’s make it happen.</span></p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/from-product-to-organization-the-reach-of-breakthrough-innovation/">From product to organization: The reach of breakthrough innovation</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/from-product-to-organization-the-reach-of-breakthrough-innovation/">From product to organization: The reach of breakthrough innovation</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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		<title>Driving innovation forward starts with knowing your team</title>
		<link>https://verhaert.com/insights/blog/pm/driving-innovation-forward-starts-with-knowing-your-team/</link>
		
		<dc:creator><![CDATA[Jurre Miedema]]></dc:creator>
		<pubDate>Tue, 20 May 2025 08:50:04 +0000</pubDate>
				<category><![CDATA[Project management]]></category>
		<category><![CDATA[Corporate innovation]]></category>
		<category><![CDATA[Innovation capacity]]></category>
		<category><![CDATA[Innovation methodology]]></category>
		<category><![CDATA[Product strategy]]></category>
		<guid isPermaLink="false">https://verhaert.com/?p=40766</guid>

					<description><![CDATA[<p>Successful innovation projects rely on more than planning. Discover how on-site project managers build the trust and team dynamics needed to drive results.</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/driving-innovation-forward-starts-with-knowing-your-team/">Driving innovation forward starts with knowing your team</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/driving-innovation-forward-starts-with-knowing-your-team/">Driving innovation forward starts with knowing your team</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>Behind every innovation project is a team. As projects grow more complex, they bring together a wide range of profiles — from creative thinkers to technical problem-solvers. Each perspective adds value, and when this diversity is managed well, it becomes a powerful engine for innovation. Agility, creativity, and resilience all stem from the people behind the work. This blog explores why knowing your team is the starting point for success, especially in complex innovation environments.<br />
</strong></p>
<p><img decoding="async" class="alignnone wp-image-33447" style="margin-bottom: 20px;" src="https://verhaert.com/wp-content/uploads/2025-Blog-template-Driving-innovation-forward-starts-with-knowing-your-team.png" width="762" data-wp-editing="1" /></p>
<h2 style="margin-top: 10px;">Innovation success depends on people</h2>
<p>The more ambitious your innovation project, the more crucial it becomes to truly understand the people driving it. At its core, innovation success isn’t just about plans, budgets, or risk control — <strong>it’s about turning a group of diverse experts into a cohesive team</strong> that can handle ambiguity, adapt rapidly, and still deliver high-value outcomes. Traditional project management methods often overlook this human dimension. <strong>That’s where experienced, people-savvy innovation project managers come in.</strong> They don’t just oversee tasks; they create the environment for each team member to thrive and contribute meaningfully to the project’s outcome.</p>
<p>Successful innovation thrives on teams that don’t simply follow a plan but co-create it as they go. When people share knowledge early, challenge assumptions, and stay aligned even as priorities evolve, they build the kind of momentum complex projects need. This level of collaboration depends on <strong>leadership that understands team dynamics just as much as technical goals</strong>. In innovation and R&amp;D environments, where speed and creativity matter as much as structure, the human dynamic becomes a critical success factor. <strong>Trust, open communication, and shared ownership</strong> are what truly drive teams to deliver meaningful results, not just completed tasks.</p>
<h2>Understanding your innovation team beyond expertise</h2>
<p>Building high-performing innovation teams starts with <strong>understanding who is in the team</strong>. We’re not only talking about their technical expertise, but also their mindset, communication style, and expectations. It’s essential to take the time to engage with individuals from the outset <strong>to create the foundation for better collaboration and faster iteration cycles</strong>.</p>
<p>Introductory conversations, for example, are strategic as they reveal how people prefer to work, where support is needed, and what motivates them to go the extra mile. These insights help on-site project managers <strong>establish conditions where each team member can contribute at their best</strong>. Especially under the pressure of innovation deadlines.</p>
<h2>On-site project management, navigating the human side of innovation</h2>
<p>R&amp;D projects rarely follow a straight line: they evolve, shift direction, and reveal unexpected challenges along the way. <strong>That’s why having an innovation project manager on-site makes such a difference.</strong> They can sense when tensions are building, spot roadblocks before they become full stops, and step in when the team starts drifting off course. Sometimes it’s a quick informal check-in, a spontaneous brainstorm, or just picking up the unspoken energy in the room that keeps your project on track. Innovation work is full of moving parts and high pressure — <strong>you need someone who can read both the whiteboard and the room.</strong></p>
<p>Effective on-site project management in innovation isn’t only about managing deliverables, it’s about managing team dynamics. After all, <strong>teams don’t just execute the innovation process; they are the process</strong>.</p>
<p>How are you ensuring you truly understand your team’s strengths, motivations, and challenges? Because understanding is what moves innovation forward.</p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/driving-innovation-forward-starts-with-knowing-your-team/">Driving innovation forward starts with knowing your team</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/driving-innovation-forward-starts-with-knowing-your-team/">Driving innovation forward starts with knowing your team</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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		<title>The missing link in innovation: Why R&#038;D needs project management</title>
		<link>https://verhaert.com/insights/blog/pm/the-missing-link-in-innovation-why-rd-needs-project-management/</link>
		
		<dc:creator><![CDATA[Jan Willem Dik]]></dc:creator>
		<pubDate>Tue, 18 Feb 2025 22:42:31 +0000</pubDate>
				<category><![CDATA[Project management]]></category>
		<category><![CDATA[Corporate innovation]]></category>
		<category><![CDATA[Innovation capacity]]></category>
		<category><![CDATA[Innovation methodology]]></category>
		<category><![CDATA[Product strategy]]></category>
		<guid isPermaLink="false">https://verhaert.com/?p=40098</guid>

					<description><![CDATA[<p>Learn how on-site project managers bridge R&#038;D and marketing to drive innovation and bring products to market successfully.</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/the-missing-link-in-innovation-why-rd-needs-project-management/">The missing link in innovation: Why R&#038;D needs project management</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/the-missing-link-in-innovation-why-rd-needs-project-management/">The missing link in innovation: Why R&#038;D needs project management</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><strong>When R&amp;D and marketing departments operate independently, bringing a new product to market can be challenging. Successful innovation requires these two functions to work together seamlessly. While R&amp;D ensures technical feasibility, marketing validates the product’s desirability to customers. Project managers play an essential role in bridging the gaps. They facilitate collaboration, accelerate development, and ensure innovative ideas are turned into successful products.  </strong></p>
<p><img decoding="async" class="alignnone wp-image-33447" style="margin-bottom: 20px;" src="https://verhaert.com/wp-content/uploads/2025-Newsletter-Blog-JW_v2.jpg" width="762" data-wp-editing="1" /></p>
<h2 style="margin-top: 10px;"><b>The common misalignment between R&amp;D and marketing</b></h2>
<p><span style="font-weight: 400;">While R&amp;D prioritizes solving technical challenges, marketing looks at customer needs, market trends, and competitive positioning. However, problems arise when these disciplines fail to work together.</span></p>
<p><span style="font-weight: 400;">A product developed with cutting-edge technology but <strong>lacking a clear value proposition leads to poor adoption</strong>. Marketing campaigns sometimes promise features that are difficult to implement and this may cause frustration for both customers and development teams. These misalignments result in wasted resources, missed opportunities, and stalled projects.</span></p>
<p><span style="font-weight: 400;">Innovation cannot thrive alone. To be successful, companies must align R&amp;D’s technical expertise with marketing’s customer insights from the beginning.</span></p>
<h2><b>How on-site project management bridges the gap</b></h2>
<p><span style="font-weight: 400;">A <strong>dedicated project manager</strong> (PM) significantly benefits both R&amp;D and marketing teams. Their role is positioned at the intersection of these departments, allowing them to smooth coordination, enhance communication, and support decision-making. PMs work closely with cross-functional teams, <strong>aligning technical capabilities with market expectations</strong> and increasing the chances of a successful product launch.</span></p>
<p><span style="font-weight: 400;">PMs know-how in tackling the complexities of product innovation offers expertise in key areas such as:</span></p>
<ul style="padding-left: 40px; padding-bottom: 20px;">
<li><strong>Specification management</strong>: <span style="font-weight: 400;">On-site PMs make sure all technical and functional requirements are clearly defined, documented, and progressively integrated throughout the development cycle. They minimize misalignment, avoid rework, and maintain the project’s momentum</span><span style="font-weight: 400;">.</span></li>
<li><strong>Go-to-Market (GTM) strategy</strong>: <span style="font-weight: 400;">Project managers coordinate operations between the development process and the market entry phase. They speed up the transition from prototype to market launch by implementing positioning strategies to meet customers’ needs and address market differentiation</span><span style="font-weight: 400;">.</span></li>
<li><strong>Risk and feasibility assessment</strong>: <span style="font-weight: 400;">Innovations must be both feasible and commercially viable. PMs proactively assess potential technical and commercial risks by balancing constraints with business objectives. They early identify roadblocks and help teams make informed decisions</span><span style="font-weight: 400;">.</span></li>
</ul>
<p><span style="font-weight: 400;">Beyond managing timelines and milestones, on-site PMs bring <strong>strategic insights that shape the trajectory of innovation</strong>. Because they work on different projects for different companies, they rapidly accumulate best practices and fresh perspectives. This exposure, combined with their deep industry knowledge and firsthand involvement enables them to refine product features, simplify processes, and optimize development strategies. They help companies bring <strong>impactful, market-ready solutions</strong> to life by encouraging collaboration and maintaining alignment between R&amp;D and marketing.</span></p>
<h2><b>The competitive edge of harmony</b></h2>
<p><span style="font-weight: 400;">When R&amp;D and marketing work in harmony, great ideas turn out to be successful products. Companies that <strong>break down silos and encourage collaboration</strong> bring products to the market faster without expensive setbacks, and create solutions meeting customers&#8217; needs. </span></p>
<p><span style="font-weight: 400;">On-site project managers help make this happen. They keep communication flowing, streamline processes, and ensure <strong>innovation doesn’t get lost in translation</strong>. In a fast-moving market, the companies that connect R&amp;D and marketing effectively will have the edge.</span></p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/the-missing-link-in-innovation-why-rd-needs-project-management/">The missing link in innovation: Why R&#038;D needs project management</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/the-missing-link-in-innovation-why-rd-needs-project-management/">The missing link in innovation: Why R&#038;D needs project management</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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		<title>Fate or strategy: how to predict innovation success?</title>
		<link>https://verhaert.com/insights/blog/pm/fate-or-strategy-how-to-predict-innovation-success/</link>
		
		<dc:creator><![CDATA[Laurien Wolfswinkel]]></dc:creator>
		<pubDate>Mon, 12 Aug 2024 07:43:46 +0000</pubDate>
				<category><![CDATA[Project management]]></category>
		<category><![CDATA[Innovation capacity]]></category>
		<category><![CDATA[Innovation methodology]]></category>
		<category><![CDATA[Open innovation]]></category>
		<guid isPermaLink="false">https://verhaert.com/?p=39343</guid>

					<description><![CDATA[<p>Eighty percent of innovations fail. Is it luck or strategy that drives success? Discover how top companies beat the odds.</p>
<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/fate-or-strategy-how-to-predict-innovation-success/">Fate or strategy: how to predict innovation success?</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/fate-or-strategy-how-to-predict-innovation-success/">Fate or strategy: how to predict innovation success?</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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										<content:encoded><![CDATA[<p><strong>On average, eighty percent of product innovations fail. These products disappear from the market within two years, often because they do not sufficiently meet the target audience&#8217;s needs or are not launched at the right time. While this failure rate is high, some companies perform significantly better than others. Is it a matter of fate, luck, or chance? What sets these successful innovators apart?  </strong></p>
<p><img decoding="async" class="alignnone wp-image-33447" style="margin-bottom: 20px;" src="https://verhaert.com/wp-content/uploads/2024-LinkedIn-Fate-or-strategy.jpg" alt="Design-to-manufacturing" width="762" data-wp-editing="1" /></p>
<h2 style="margin-top: 40px;">Key principles for successful innovation</h2>
<h3>1. Alignment with business strategy</h3>
<p><span style="font-weight: 400;">To achieve predictable success in innovation, the first principle is that innovation must contribute to the business strategy. Every innovation effort should align with the company’s overarching goals and objectives. As Stijn Smet, managing director of Verhaert Innovation Academy, emphasized during a recent workshop at <a href="https://beacon.nl/en/homepage/" target="_blank" rel="noopener">Beacon Masters in Innovation</a>, “When innovation is not strategically aligned, it becomes a distraction rather than a growth driver.”</span></p>
<h3>2. Portfolio approach</h3>
<p><span style="font-weight: 400;">Rather than putting all eggs in one basket, companies should diversify their innovation efforts across multiple projects. This approach spreads risk and increases the likelihood of overall success. During the workshop, Stijn Smet illustrated this principle with a compelling case study of a leading tech company that adopted a diversified innovation portfolio. By spreading their efforts across various projects, they significantly reduced their failure rate and enhanced their chances of success.</span></p>
<h3>3. Following the right process</h3>
<p><span style="font-weight: 400;">Finally, the third principle is that innovation can be predictable if the right process is followed. This involves establishing a structured, measurable approach to innovation. A tool often recommended for this purpose is &#8216;innovation accounting,&#8217; which consists of setting measurable parameters (metrics) and monitoring them throughout your innovation projects.</span></p>
<h2 style="margin-top: 40px;">Making innovation measurable</h2>
<p><span style="font-weight: 400;">Innovation accounting allows companies to measure their progress objectively. Metrics are divided into two types: activity metrics and impact metrics. During our workshop, a diverse group of professionals, including business directors, R&amp;D managers, innovation delivery team leads, CEOs, and directors of product design &amp; development, identified the top three measurable factors for successful innovation:</span></p>
<ul style="padding-left: 40px; padding-bottom: 20px;">
<li>Number of validated assumptions (activity metric):<span style="font-weight: 400;"> This was unanimously chosen as the most important metric. Validating assumptions early and frequently helps ensure that innovation is on the right track.</span></li>
<li>Percentage of risk reduction per period/phase (impact metric):<span style="font-weight: 400;"> Measuring how much risk is reduced in each phase of the innovation process helps companies manage uncertainties effectively.</span></li>
<li>Number of milestones (gates) passed per year (impact metric):<span style="font-weight: 400;"> Tracking the number of milestones achieved annually helps assess the overall progress and adherence to the innovation plan.</span></li>
</ul>
<h2>Implementing a structured process</h2>
<p><span style="font-weight: 400;">Companies that truly excel in innovation understand that it&#8217;s not about eliminating risk but managing it effectively. They embrace the inherent uncertainty of innovation while utilizing structured processes and measurable metrics to navigate the unpredictable terrain. In the end, predictable innovation success is not about creating a rigid formula but finding a balance in a system where both creativity and structure can flourish by working side by side.</span></p>
<p><span style="font-weight: 400;">Struggling to make your innovation success predictable? A well-organized governance framework, supported by periodic checks and objective metrics, can significantly enhance your innovation success rate. Contact us to discuss how we can implement a structured innovation process tailored to your company’s needs and turn your innovation efforts into predictable success.</span></p>
<div style="background-color: #e5e8ea; padding: 20px 20px 0px 20px; margin-top: 40px;">
<h3>Want to get started right away? Download our free &#8216;Innovation metrics canvas&#8217; to help you track the objective metrics that will guide your projects toward success.</h3>
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<p>The post <a rel="nofollow" href="https://verhaert.com/insights/blog/pm/fate-or-strategy-how-to-predict-innovation-success/">Fate or strategy: how to predict innovation success?</a> appeared first on <a rel="nofollow" href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
<p>The post <a href="https://verhaert.com/insights/blog/pm/fate-or-strategy-how-to-predict-innovation-success/">Fate or strategy: how to predict innovation success?</a> appeared first on <a href="https://verhaert.com">Verhaert Masters in Innovation</a>.</p>
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