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.
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.
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.
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.