Embed Size (px)
Citation preview
UMD Project Management SymposiumMay 7-8, 2020 Slide 1
Richard Wyatt2020 Project Management Symposium
THE PROJECT MANAGEMENT OF INNOVATION
UMD Project Management SymposiumMay 7-8, 2020 Slide 2
UMD Project Management SymposiumMay 7-8, 2020 Slide 3
Small ‘i’ innovation: A pervasive culture of innovation
• Incremental • Cultural• Process or Product• ‘Happy little accidents’
Big ‘I’ innovation:• Discovery projects
• Acquired innovation
UMD Project Management SymposiumMay 7-8, 2020 Slide 4
Discovery ‘Projects’A project team that can innovate within the boundaries of predefined project
A bounded effort against a known issue (Tiger team)
Planned Innovation or Research and Development
Acquired InnovationAcquisition of an organization that has an innovative capability
An acquisition’s value proposition includes an innovative culture
Acquisition of a small organization/team by an established large company
UMD Project Management SymposiumMay 7-8, 2020 Slide 5
Predictability:
Traditionally projects deliver pre-defined deliverables, at a pre-determined cost, on a specified date with an agreed level of Quality.
UMD Project Management SymposiumMay 7-8, 2020 Slide 6
• People depend on predictability in every-day life.
• Organizations depend on supply chain predictability.
• Shareholder want predictable returns
• Control Functions exist to ensure predictably.
• Project managers deliver predictably.
However, Innovation is not a predictable outcome from a defined set of inputs.
Predictability
Predictability and Innovation
UMD Project Management SymposiumMay 7-8, 2020 Slide 7
TIAA PUBLIC
CoreOperatingBusiness Streamlined
Minimized bottlenecks and constraintsWell understood Value StreamsRepeatable best practicePredictableRisk AverseBottom line
DevelopedInnovation
AcquiredInnovation
Creative, not established processBreak the rulesOut-side the box thinkingFail fastUncertain pay-backRapidly changing circumstances
Innovation
UMD Project Management SymposiumMay 7-8, 2020 Slide 8
Organizational reaction to Uncertainty
UMD Project Management SymposiumMay 7-8, 2020 Slide 9
• Large organizations typically react to uncertainty with a rigid structure of control functions
• Empower committees to establish operating requirements and validate compliance
• Aggregated control function resources can outnumber total resources in Innovation projects or Innovation acquisitions
Biggest risk to Innovation projects/acquisition is the suffocating demands of control functions seeking line of sight into uncertain innovation activity
Organizational reaction to Uncertainty (a lack of predictability)
UMD Project Management SymposiumMay 7-8, 2020 Slide 10
Protect the innovation Ecosystem
UMD Project Management SymposiumMay 7-8, 2020 Slide 11
Project Managers can play a critical role in protecting resources within an Innovation Project or Innovative subsidiary
• Negotiate agreement with control function on guard rails that give the Project/Subsidiary space to innovate
• Ensure culture of personal risk taking
• Filter and minimize impact all control function requests
Main priority for the Project/Program Manager is to ensure the members of the team spend their time innovating not administrating.
UMD Project Management SymposiumMay 7-8, 2020 Slide 12
Principles for enabling managing Innovation projects
• Set boundaries, don’t set structure
• Redefine success without traditional project predictabilities
• Ensure time is spend creating
• Co-locate, facilitate happy little collisions (break affiliations to corporate structures)
• Coordinate at the corporate level not with inefficiency at the project/subsidiary level
• Enable innovation culture to form, thinking out of the box, fail fast, fail often
Ensure the Project/Subsidiary has the freedom to act differently
UMD Project Management SymposiumMay 7-8, 2020 Slide 13
Questions?
Contact:
Richard Wyatt
TIAA
267-980-2061
