Having an innovative idea and deciding to pursue it is both exciting and daunting. This can be the start of a new business or collaboration, and there is a lot to think about. New relationships are being forged, possibilities are being explored, and a path towards making your idea a reality is starting to become clearer.
It is essential to design a project around an innovation, a project with a start and end, inputs and outputs, goals and deliverables, and adequate funding.
However, this is just a start. Most innovations are developed around projects and projects are the frameworks that allow businesses to innovate away from the day to day business activity.
It is therefore essential to design a project around an innovation, a project with a start and end, inputs and outputs, goals and deliverables, and adequate funding.
How do you design a project?Good project design is about more than ticking boxes
How do you design a project? It is important to design the level of project scope you are able to fund. This is covered in posts on grants and loans, so let’s focus on other aspects.
In most cases it is a good start to clearly describe the problem being addressed and don’t move on to the solution until you have nailed this. Challenge the initial assumptions about the scale of the problem and quantify these assumptions too.
You can use techniques like 5 whys https://en.wikipedia.org/wiki/Five_whys to help to critique the initial assumptions.
Only move on the solution when there is sufficient proof the problem is worth solving.
Designing a good project is a lot about setting the goals clearly and making sure risks have been mitigated for. The project goals should be achievable but challenging.
Innovation involves risk so there should be some risk attached to the project. Don’t avoid or underestimate the risks.
If you want to know more about how to design an innovation project, contact us.
We have been involved with innovation at many levels for a long time and can help you to find your way.