When you’re actively trying to improve your innovation performance, high-quality measurement is critical, not just a nice-to-have. This short guide describes how the most innovative companies derive increasing value from innovation. Use it to pinpoint where you stand today, and what value you can unlock with better measurement.
Conversations about innovation performance measurement often start and stop at which metrics do I need to manage my innovation project? But that perspective underestimates the importance of measurement to both your innovation function and the company as a whole. This spotlight guide offers a simple model you can use to engage your stakeholders in a conversation about the role of measurement, and how you can all get more value from your measurement system.
Commodore’s innovation measurement framework identifies the ten questions any good measurement system should be able to answer. The best metrics to answer these questions will vary depending on your specific context (and over time). See the guides above for guidance on choosing the right metrics for your organization.
If you’re responsible for determining portfolio-level investments, prioritizing and allocating resources to projects, communicating with leadership about the state of a portfolio, and/or building your organization’s innovation capabilities, the portfolio guide is for you. It’ll help you design a better innovation measurement system, whether you’re starting from scratch or you have an existing system you want to improve.
We created the project-level guide for people in large organizations who need to track and report performance of their innovation project(s). It provides the case for good measurement, the questions your measurement system should answer, guidance on how to choose metrics, and what to keep in mind for communicating about your progress. Don’t miss the details on how to measure learning.
Innovation leaders often hear the question: how well are we doing compared to our competitors? The answer to that question should include both qualitative insight and data. Unfortunately, it’s often very hard to find that data. Metrics that enable apples-to-apples comparison of innovation performance across companies are rare. Until now.