What to Expect
The Ideas & Selection segment provides a structure for ensuring the organization maintains a steady supply of new product ideas. Ideas
continuously and systematically generated from various sources provide fuel for organic growth. This chapter will describe how the idea management system is integral to ExPD.
We provide an overview of the ideation model that includes generating, capturing, preparing, and prioritizing (PV1) product ideas.
We describe a method to manage the Idea Library and to scale the quantity and flow of ideas. We then summarize the process of preparing the idea with the necessary information for the management team to decide on a product idea.
Next, we introduce the first Prioritization Valve (PV1) within the ExPD process. Before an idea enters PV1, the management committee assesses whether the product idea will proceed to the next step in the process. If the idea is chosen to proceed, it enters PV1, and the inner working of the valve begins, including scoring, selecting, and prioritizing incoming ideas. We use the image of a valve to illustrate controlling the rate of idea flow based on the available resources.
We conclude the chapter with a closer look at the management committee responsible for prioritizing ideas. We consider the composition of the committee, the advantages of early involvement in the process, and some practices to reduce bias in decision-making.
Sample Content:
Overcoming Hurdles of the Idea Management System
Related Resources:
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Other Resources:
Robert Phaal, Clare Farrukh, and David Probert, “Customizing Roadmapping,” Research Technology Management (March–April 2004).
Steven C. Wheelwright and Kim B. Clark, Revolutionizing Product Development: Quantum Leaps in Speed, Efficiency and Quality
(New York: Free Press/Simons & Schuster, 1992).
Daniel Kahneman, Thinking, Fast and Slow (New York: Farrar, Straus and Giroux, 2011).