An innovation management plan outlines the actions needed to achieve a company's innovation goals. It outlines the specific objectives, actions, metrics, and initiatives needed to achieve the desired level of innovation. The plan is designed to ensure the organization is consistently innovating and staying competitive.
This innovation management plan template is designed for organizations of all sizes and industries looking to create a plan to manage their innovation projects and initiatives to reach their goals. It can be used to identify strategic focus areas, objectives, actions, metrics, and targets to ensure successful project execution, and to measure the success of innovation initiatives.
Focus areas are the topics and areas of innovation that you want to prioritize. Examples of focus areas could include developing a culture of innovation, developing an innovation strategy, or assessing and tracking innovation performance.
Objectives are the goals you want to achieve within each focus area. Examples of objectives could include increasing the number of innovative ideas, increasing the rate of return on innovation investment, or increasing the rate of time to market.
KPIs are the measurable targets you set to track the progress of the objectives. Examples of KPIs could include increasing the number of innovative ideas generated, increasing the rate of return on innovation investment, or decreasing the time to market.
Projects (actions) are the initiatives taken to achieve the KPIs. Examples of projects could include creating innovation workshops, creating an innovation pipeline, or establishing a process for innovation funding.
The Cascade Strategy Execution Platform makes it easy to create, manage, and track your innovation strategy. It helps you to quickly identify objectives, set measurable targets, and track performance, so you can get faster results from your innovation strategy.
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