Innovation Portfolio Mapping

When to use Innovation Portfolio Mapping

Use this method when you need to evaluate the current state of your innovation projects, ensure alignment with strategic goals, and identify gaps or imbalances in your innovation portfolio.

What it solves

Lack of strategic alignment in innovation projects, inefficient resource allocation, unclear understanding of innovation portfolio balance.

How to run Innovation Portfolio Mapping, step by step

1. **Define Sub-Categories (10 mins)**: Review the provided sub-categories and add any missing categories relevant to your organization's activities.
2. **Map Strategic Objectives (15 mins)**: Transfer your business's strategic objectives onto the mapping tool. Consider using objectives from your company vision.
3. **Map Projects to Objectives (30 mins)**: Place project circles under the strategic objective they most closely align with. Facilitate a discussion to ensure accurate placement.
4. **Map Projects to Innovation Type (30 mins)**: Move project circles vertically to represent their corresponding innovation type (e.g., Continuous Improvement, Incremental, Radical/Disruptive, Architectural).
5. **Analyze and Discuss (30 mins)**: Review the completed map, identify imbalances, and discuss potential actions (e.g., killing projects, reallocating resources).
6. **Document Action Items (15 mins)**: Capture key decisions and assign owners to action items arising from the discussion.

Materials needed

• Innovation Portfolio Mapping template (digital or physical)
• Project list
• Sticky notes or digital circles representing projects
• Markers or digital pens
• Whiteboard or digital whiteboard

Facilitator tips

• Encourage open and honest discussion about project alignment and value.
• Ensure all participants have a clear understanding of the strategic objectives and innovation types.
• Remind the group that the goal is to improve the portfolio, not to criticize individual projects.

Common pitfalls

• Projects are mapped based on wishful thinking rather than reality. Facilitate a critical discussion to ensure projects are accurately placed.
• Dominant voices overshadow quieter participants. Actively solicit input from all team members.

Variations

• Use different sized circles to represent the resource allocation for each project.
• Color-code projects based on their risk level or strategic importance.

Running it online or hybrid

Use a shared digital whiteboard like Miro or Mural to allow for real-time collaboration and movement of project circles.

What it produces

A visual map of innovation projects plotted against strategic objectives and innovation types.

Origin

Adapted from Board of Innovation — source

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METODIC places Innovation Portfolio Mapping inside a complete, timed session plan — agenda, worksheets, facilitator guide and slides — matched to your group and goal.

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