Scribd Logo
Upload

Welcome to Scribd!

  • Idea Lifecycle Management

    Uploaded by

    jose maurtua
    48 views1 page
    Idea Qualification Innomation believes that the performance of Idea Lifecycle Management (ilm) is improved by a formal process of idea qualification. It's important to qualify the idea for further investment by asking a series of questions. Idea viability is about launch timing, resource availability, market readiness, customer demand, competitor position relative to the idea. Idea value is about its ability to retain existing or attract new customers, to disrupt markets or undermine competitors.

    Original Description:

    Original Title

    412908-Idea-Lifecycle-Management

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Idea Qualification Innomation believes that the performance of Idea Lifecycle Management (ilm) is improved by a formal process of idea qualification. It's important to qualify the idea for further investment by asking a series of questions. Idea viability is about launch timing, resource availability, market readiness, customer demand, competitor position relative to the idea. Idea value is about its ability to retain existing or attract new customers, to disrupt markets or undermine competitors.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    48 views1 page

    Idea Lifecycle Management

    Uploaded by

    jose maurtua
    Idea Qualification Innomation believes that the performance of Idea Lifecycle Management (ilm) is improved by a formal process of idea qualification. It's important to qualify the idea for further investment by asking a series of questions. Idea viability is about launch timing, resource availability, market readiness, customer demand, competitor position relative to the idea. Idea value is about its ability to retain existing or attract new customers, to disrupt markets or undermine competitors.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Stewart McKie

    4 August 2005
    www.innomate.biz

    Idea Qualification

    Innomation believes that the performance of Idea Lifecycle Management (ILM) is


    improved by a formal process of idea qualification. The idea management process
    is used to refine idea content and convert the idea into a business opportunity, but
    then criteria must be applied to qualify the idea and justify further investment to
    realize the value of the idea in the marketplace.

    Once an idea has been converted into a potential business opportunity through
    the formal process of idea management, it’s important to qualify the idea for fur-
    ther investment by asking a series of questions:

    • Is the idea viable?


    • Is the idea valuable?
    • Is the idea verifiable?
    • Is the idea validatable?

    Idea viability is about launch timing, resource availability, market readiness,


    customer demand, competitor position relative to the idea. forward regulatory
    expectations. A whole set of viability ranking criteria can be applied to the idea
    that may vary by industry sector. Idea viability answers the question: Can it be
    done right now or should it be held in reserve for later?

    Idea value is about its ability to retain existing or attract new customers, to dis-
    rupt markets or undermine competitors, to enhance brand positioning, to create
    proto-IP or to leverage current events and trends for publicity/marketing pur-
    poses. It’s not just about the potential monetary revenue/profit picture for the
    idea. Idea value answers the question: Is it worth doing?

    Idea verifiability is about how suitable the idea is for testing prior to
    development/launch. Is it possible to create a low-cost prototype? Can the idea be
    introduced using a focus group? Is it ready for an expert to give it a serious re-
    view? Are there early adopter customers ready to take on the product/service and
    help refine it? An idea that can’t be externally verified in some way is likely to be
    a riskier investment. Idea verifiability answers the question: Can we test this
    idea externally before making a major investment?

    Idea validation is about whether a context already exists in which to realize the
    idea. For example is there existing IP that touches on the idea or supports it?
    Are there standards or best practices that can be applied to the idea? Does the
    idea comply with an existing/projected regulatory control? Is there an existing
    channel in place to sell/support the idea? Idea validation answers the question:
    Is there a solid conceptual platform context on which to launch this idea?

    Copyright Stewart McKie, 2005. For permission to re-use/quote contact sm@tripos.biz

    You might also like