Innovation Portfolio Management is all about creating the right balance in your innovation portfolio between short-term and long-term innovations, between low-risk and big-bet initiatives, between incremental and disruptive/transformation innovations, and between starting new projects and killing the non-viable ones.
Based on our RevelX Innovation Readiness Benchmark data, Innovation Portfolio Management is the least developed innovation capability of all organizations. However, the high performers in innovation rate significantly better on this. 62% of them actively monitors innovation projects on well-defined metrics and stops projects that are not successful. This in sharp contrast to the low performers of which only 14% does this.
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