Smart Enterprise Magazine

Volume 6, Number 3, 2012

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Tech Chatter The Lifecycle of INNOVATION Technology is joining two formerly separate ecosystems: IT and business. The changing economy is heating up competition. Many organizations use Agile development to deliver, but the ability to manage all types of methodologies is important. Organizations can't rely on cuts to budget and resources; they need to drive growth. 1 Define and Align Strategy and Goals To get started, you need to think strategically about where to invest resources. You need a system that will help you select the projects that will contribute the most value to your business goals and future success. • Evaluate an unlimited set of optimal investment scenarios • Establish evaluation criteria that suit your business 6 SMARTENTERPRISEMAG.COM • Ensure that strategic investments align with your business goals 2 Capture and Prioritize Ideas The voice of your customers is essential at every stage of any new project. You want to gather, evaluate and monitor what they have to say, and close the feedback loop on delivery. You want to prioritize and attach requirements. With a system in place, you can leverage ideas across your project portfolio. • Capture your customers' ideas • Quickly weigh the impact of new ideas • Prioritize and attach requirements Business leaders are able to treat projects and programs as part of an overall investment portfolio, focusing on the ones with the greatest value to the business and its customers. 3 Define Scope and Requirements With strategy and ideas aligned, you are ready to define what you will need. A strong project portfolio management system will allow you to easily scope both projects and products. You will also be able to stay on top of requirements going forward — prioritizing efforts and avoiding creep. • Organize requirements by customer priority • Assess changes in scope • Clearly scope to determine whether requirements are met

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