Portfolio Management - The Key to Lean Innovation
In this video from PIPELINE 2012, Pamela Soin, Kalypso Portfolio & Pipeline Management Practice Lead, discusses the risks and benefits of applying "lean" concepts to new product development (hint: use portfolio & pipeline management to cut waste, not creativity!)
In both operations and manufacturing, the concept of "lean", has earned its reputation as a powerful toolset that drives down cost and improves cycle-times. Lean is known for a focus on eliminating waste, standardizing processes and creating value from an end customer standpoint. As companies strive to increase growth and profitability from their New Product Development (NPD) investments, some executives are turning to lean initiatives in hopes that lean's success in other areas will apply. But when it comes to the more creative and fuzzy practices of innovation, following lean practices without strategic direction from portfolio and pipeline management (P&PM) capabilities can have unintended consequences; stifling ideation processes, focusing on the desires of customers who do not know what they want, over-standardization, and speeding up the wrong projects.
Combining P&PM processes with lean for NPD shows companies where to focus lean initiatives for maximum impact, and once established, creates processes that can be further improved. P&PM ensures companies stay true to delivering results by giving us visibility into what is most important and lean approaches help them tactically get there.
Want to hear more from Pamela? Located near Austin?
Join her on Monday, October 29th from 11:30-2:00 for a free interactive workshop to discuss how real-time visibility provides intelligence and reporting across all processes, driving innovation growth by helping companies monitor investments and align them with strategy, proactively manage budget and resource constraints, and communicate strategic priorities and objectives.
AT&T Conference Center
University of Texas Campus
1900 University Drive
Austin, TX 78705
Video posted with permission from PIPELINE 2012 (www.pipeline2012.com)
Topics: Innovation, Innovation Process Management, Lean, Nova, Nova for PPM, Nova Model, Nova PPM Model, NPD, Pamela Soin, Portfolio & Pipeline Management, Portfolio Management, PPM, Product Portfolio, Product Portfolio Management