Innovation
Management
Unit IV
Prof. Antra Vohra
is measuring the extent to which
targets are being met, and detecting
1 the factors that hinder or facilitate
their realisation
Effectiveness
Evaluation
3
Innovation establishing cause-effect
2 relationship about the extent to
which a particular policy produces
desired outcome.
Integration
of risks
Combining different departments Example: If raw materials used is
of any organisation to analyze the found to be toxic, then keeping
risks involved and eliminate the purchase and R&D team in loop to
risk at the initial stage. find an alternative raw material
will help, ven the marketing team
might help.
Integration of Risk
Companies have to integrate customers into the innovation
process to improve overall innovation's market risk.
Customer integration into NPD process helps to identify
customer needs better and also manage the risks better.
Once customer needs are identified, information
dissemination across the functional disciplines becomes a
very important task for the organisation.
Discontinuous innovations pose risk because they involve
more uncertainty.
Issuesin Innovation
Benefits and risks from innovation
Public perception of benefits and risks
Public opinion, prejudice and new
technologies
Communication and education
Scienve and scientific uncertainty
Issues in Innovation
Risk-based vs hazard based policyand
legislation
Risk assessment
Precautionary Principle
Proportionality principle
Integration of risk and benefits.
Conceptual approaches for risk
Risk is part of any human effort
The word Risk is derived from Italian word
"RISICARE", which means to dare"
The risk is not an option, but we are
permanently exposed to risk in everyday life,
which is really important is that each time, to
gain control over it.
Features of Risk
Possibility of obtaining favourable or unfavourable results in a future
action expressed in terms of probabilities
Possible future event whose production could cause some losses
It is threat that an event or action to affect in negative manner the
capacity of an organisation to achieve its planned goals
Some concepts about risk are focused only on negative events, while
others take into account all variables, both threats and opportunities
Achieving the expected result of an activity is under the influence of
random factors that accompany it in all stages of its development.
Features of Risk
It is a problem which has not yet occurred but can occur in
the future, threatening the achievement of agreed outcomes
It is uncertainity in obtaining expected results and should be
treated as a combination of probability and impact
the probability of risk occurrence and its impact on the
results contribute to establish the risk value
It is permanent reality, an inherent phenomenon that
accomplishes all activities and actions of an organisation.
Integrated Approach to risk
Integrated risk management process is designed and set by
management and implemented by staff within the
organisation.
The process is not linear
COSO- Committee of sponsoring organisation of the
Treadway Commission is a joint initiative of the five private
sector organisations listed on the left and is dedicated to
providing thought leadership through the development of
frameworks and guidance on enterprise risk management,
internal control and fraud deterrence.
Integrated Approach to risk
Integrated risk management process is designed and set by
management and implemented by staff within the
organisation.
The process is not linear
COSO- Committee of sponsoring organisation of the
Treadway Commission is a joint initiative of the five private
sector organisations listed on the left and is dedicated to
providing thought leadership through the development of
frameworks and guidance on enterprise risk management,
internal control and fraud deterrence.
Factors influencing
economic effectiveness
Enhances demand and
1 Enhance product value 5
choice
2 Enhance product utility 6 Overcome competition
Enhances economic
3 Reduce prices 7
growth
4 Reduce Production cost
Post implementation Analysis of
Innovation Project
PIR- Post Implementation Review
Analysis of projects post implementation and simulation
Important Questions to answer in PIR
Did the project fully solve the problem that it was
designed to address?
Can we take things further and deliver even bigger
benefits
What lessons did we learn that we can apply to bigger
future projects?
PIR
When to review:
When the members of the project team remember the most
Shortly after the project has been delivered
When most of the problems have been ironed out
Tips to conduct PIR:
Ask for openness
Be objective
Document Success
Look for hindsight
Be future-focussed
Look at both positives and negatives
PIR- What to review
GAP Analysis:
Review the project charter to evaluate how closely
the project results match the original objectives
Review the expected deliverables and ensure
either that these have been delivered to an
acceptable level of quality or that an acceptable
substitute is in place.
If there are any gaps, how can those be closed.
PIR- What to review
Project Goals:
Is deliverable functioning as expected
Are error rates low enough, and is it fit for purpose
Is it functioning well, in a way way that will adjust to future
operating demands
Are users adequately skilled and supported
Are necessary controls and systems in place
Routine activities needed to support the project's success.
How does end result compare with the original project plan, in
terms of quality, schedule and budget?
PIR- What to review
Stakeholders:
Were the end users met?
Is the project sponsor satisfied
Whatare the effects on the clients or end
user
How can dissatisfaction be addressed?
PIR- What to review
Project's Costs and benefits
Final costs
Cost to operate the solution
Cost to support the solution
Compare costs with the benefits
Report Finding & Suggestions:
What have you learned from this review
Do you need corrective activity to get benefits you want
What lessons have you learned that need to be carried forward to future
projects
Does this project naturally lead on to future projects, which will build on
the success and benefits already achieved.
PIR- How to review
Define the scope of the review beforehand
Review key documents
Consider using independent reviewers
use appropriate data collections
Deliver appropriate reports
present recommendations
PIR- How to review
Define the scope of the review beforehand
Review key documents
Consider using independent reviewers
use appropriate data collections
Deliver appropriate reports
present recommendations
5 Phases of Project Management
Phase 1: Project Initiation
The project initiation phase is the first stage of turning an abstract idea
into a meaningful goal. In this stage, you need to develop a business case
and define the project on a broad level. In order to do that, you have to
determine the need for the project and create a project charter.
The project charter is an important document consisting of details like the
project constraints, goals, appointment of the project manager, budget,
expected timeline, etc.
Once you have the project goals and project scope, identify key project
stakeholders–the people who are to be involved in the project. Create a
stakeholder register with the roles, designation, communication
requirements, and influence.
Phase 1: Project Initiation
While a clear goal of the project is established in this phase, a project
charter does not contain any technical details that happen in the planning
stage.
Consider the example of an automobile manufacturer assigned to
develop an electric vehicle. The selection of the design, capacity, and
battery power of the vehicle will not be a part of the initiation phase. The
only certainty would be that an electric vehicle will be developed within
the given timeframe and budget.
Phase 2: Project Planning
The project planning stage requires complete diligence as it lays out the
project’s roadmap. Unless you are using a modern project management
methodology like agile project management, the second phase of project
management is expected to take almost half of the entire project’s
timespan.
In this phase, the primary tasks are identifying technical requirements,
developing a detailed project schedule, creating a communication plan,
and setting up goals/deliverables.
There are several methods of setting up the project’s goals but
S.M.A.R.T.and C.L.E.A.R. are the most popular.
Phase 2: Project Planning
S.M.A.R.T Goals:
The ‘SMART’ criteria ensure that the goals you set for your project are
critically analyzed. It is an established method that reduces risk and
allows managers to make clearly defined and achievable goals.
The acronym SMART stands for:
Specific, Measurable, Attainable, Realistic, Timely
Phase 2: Project Planning
C.L.E.A.R. Goals:
The ‘CLEAR’ method of setting up goals is designed to cater to the
dynamic nature of a modern workplace. Today’s fast-paced businesses
require flexibility and immediate results and CLEAR can help you with
that.
The acronym for CLEAR stands for
Collaborative, Limited, Emotional, Appreciable And Refinable.
Phase 2: Project Planning
During the planning stage, the scope of the project is defined. There is a
possibility of changing the scope of the project demands it but the project
manager must approve the change. Project managers also develop a
work breakdown structure (WBS), which clearly visualizes the entire
project in different sections for the team management.
A detailed project timeline with each deliverable is another important
element of the planning stage. Using that timeline, project managers can
develop a communication plan and a schedule of communication with the
relevant stakeholders.
Phase 2: Project Planning
Risk mitigation is another important aspect of project management that is a part
of the planning stage. The project manager is responsible for extrapolating past
data to identify potential risks and develop a strategy to minimize them.
An important element that professionals often overlook is an effective change
management plan. As a project manager, you must be ready to incorporate a
few changes in the project to avoid bottlenecks and project delays.
In the absence of a working change management plan, scope creep happens
and causes huge problems for the project team in the later stages of the project.
So, it’s best to reduce the possibility of unforeseen changes as much as possible.
Phase 3: Project Execution
The project execution stage is where your team does the actual work. As a
project manager, your job is to establish efficient workflows and carefully
monitor the progress of your team.
Another responsibility of the project manager during this phase is to
consistently maintain effective collaboration between project stakeholders. This
ensures that everyone stays on the same page and the project runs smoothly
without any issues.
You can take help from collaboration software available in the market. They’ll
not only make your life easier but also improves efficiency and increase the
productivity of your team.
Phase 3: Project Monitoring & Controlling
In the project management process, the third and fourth phases are not
sequential in nature. This phase runs simultaneously with project execution,
thereby ensures that objectives and project deliverables are met.
As a project manager, you can make sure that no one deviates from the original
plan by establishing Critical Success Factors (CSF) and Key Performance
Indicators (KPI).
During the monitoring phase of project management, the manager is also
responsible for quantitatively tracking the effort and cost during the process.
This tracking not only ensures that the project remains within the budget but
also is important for future projects.
Phase 3: Project Closing
This is the final phase of the project management process. The project closure
stage indicates the end of the project after the final delivery. There are times
when external talent is hired specifically for the project on contract. Terminating
these contracts and completing the necessary paperwork is also the
responsibility of the project manager.
Most teams hold a reflection meeting after the completion of the project in
order to contemplate on their successes and failures during the project. This is
an effective method to ensure continuous improvement within the company to
enhance the overall productivity of the team in the future.
The final task of this phase is to review the entire project complete a detailed
report that covers every aspect. All of the necessary data is stored in a secure
place that can be accessed by project managers of that organization.
Intellectual property
Intellectual property refers to creation of the mind,
such as inventions , literary and artistic works,
designs and symbols, names and images used in
commerce
Intellectual Property Rights
IPR gives people the protection as well as help to
exploit and control their IP. "The exclusive right
granted by state, to prevent others from using,
manufacturing, distributing-inventions, processes,
applications, new and original designs, trademarks,
new plant varieties, data bases and artistic and
literary works" such as person known as ' right owner'
or 'right holder'
Types of IPR
IPR in brief
Industrial
Designs
Design deals with features, shapes, patterns etc. applied to an article by an
industrial process, manual or mechanical. Eg., Chair is a utility item.
However, chair itself does not qualify for IPR, but its special carvings,
embossing etc is done which increases the value of chair though its utility
remains the same, it becomes eligible for IPR under Design Act. Designs
can be registered based on its originality, henceforth they can use
registered or capital R with a circle along with the number of registration.
IPR in brief
Patents
Is a monopoly right granted to a person, who invented a new product or
process of making an article for 20 years under the Indian Patent Act, 1970
and can be renewed after expiration of period. The inventor has to file for
patent first, and then make his/her invention to public. A patent has to be
applied in each country by the inventor claim his rights in that country. Eg.,
A group of scientists working on a new drug development in Himalayala
Drugs for some salary. the Patent of the drug is given to Himalayala Drugs,
but not to the scientists. The drug may have many patents like
composition, process and product etc
IPR in brief
Trademark
Trademark can be a word, name, brand, symbol, label etc used by a
company to create a unique identity for their product. Trademark can be
registered, and then use TM, capital R. The registration validity is for 7 years
and renewable after expiry. In India, it is governed by the Trade and
Merchandise Marks Act, 1958, which came into force on 25th November
1959
IPR in brief
Trade Secrets
Trade secret is any intellectual work or product used for a business
purpose that can be classified as belonging to that business provided it is
not based on information in public domain.
IPR in brief
Geographic
Indication
This is an indication that originates from a definite geographical area, which
is used to identify natural or manufactured products for eg: Pashmini
shawls, Kolhapuri Chappals, Kanjeevaram Sarees, kalamkari art work qualify
for registration under this category. It is valid for 10 years. The application
for registration can be an association of persons, organisations or by
producers.
IPR in brief
Copyright
It is a negative right which prevents the appropriation of the fruits of man's
work, labour or skill by another person. Copyright is an exclusive legal right
to reproduce an original work of authorship fixed in any tangible medium
of expression to prepare derivative works based on original work, and to
perform or display the work in the case of dramatic, music, choreographic
and sculptural works. Copyright prevents copying of only the expression.
Eg: Bhagwat Geeta, Patanjali Yoga Sutras etc.
LEGAL ASPECTS OF INNOVATION
The National Innovation
Act, 2008
An act to facilitate public, private or public-private partnership initiatives for
building an innovation support system to encourage Innovation, evolve a
National Integrated Science and Technology Plan and codify and
consolidate the law of confidentiality Information, trade secrets and
Innovation
LEGAL ASPECTS OF INNOVATION
Key Providionsof NIA,
2008
Annual Integration Science and Technology Plan
Scientific Measures for Supporting Innovation
Creating an electronic exchange for trading in innovation
Trade Secrecy Provisions.
LEGAL ASPECTS OF INNOVATION
The Indian Patent Act,
1970
According to the Indian Patent Act, A patent is a grant from the
government which confers exclusive rights for making, selling and using
an invention for which the patent has been granted to the innovator for
the invention
LEGAL ASPECTS OF INNOVATION
Features of The Indian
Patent Act, 1970
Objective
Inventive Steps
Usefulness
Improvement
The Guiding test
