Managing Innovations based on Delivery Time Frames
I have meaning to write about the article in Venture Beat Making corporate innovation work. It categorizes innovations based on time horizons and suggests that management processes be modified based the category:
* Horizon 1 activities support existing business models.
* Horizon 2 is focused on extending existing businesses with partially known business models
* Horizon 3 is focused on unknown business models.
It is important to keep in mind that these time horizons are being described at project start. The actual completion time changes with development progresses or resource allocation. For example, a Horizon 3 project that was started 5 years ago will be near completion now and may even be considered a Horizon 1 project. So, management and application of processes needs to change as the project progresses.