Do You Manage Technology and Innovation Projects?
Most companies engaged in design and construction projects utilize a more or less conventional project management methodology of some sort. On the other hand, companies contemplating the development of new technology take a more ad hoc, seat of the pants approach to achieving their goals. Technology development can address a variety of objective, including
- New IT systems
- New manufacturing technologies
- New analytical methodologies
- New safety systems . . .
- Operations innovations – new security protocols, new work processes, new quality assurance procedures . . .
- Organizational innovations – new organizational designs, mergers & acquisitions, divestitures . . .
- Et al . . .
In today’s world, where making sure every dollar counts, and where technology development may cost as much or more than the physical assets needed to implement it, it may be a useful exercise to compare management methods for technology development projects with “construction projects”. (And keep in mind that the same thought process adds value when contemplating other types of innovation – in operations, in organization, in performance management, etc.)