Ideas Management for Innovation

Ideas Management can dramatically enhance the value of your new product portfolio

• Ideas Management is a vital process to capture and develop valuable contributions from around the organization
• Keep score - Idea evaluation and NPD metrics help prioritize ideas
• Successful companies get 38% of their revenue from new products less than 3 years old, compared to just 27% for average companies
• Stage gate process – to manage research and development (R&D) PPM, from idea to new product launch
  

Research into best practices of New Product Development (NPD) and Project Portfolio Management (PPM) reveals that the best innovators are 50% more profitable than average on their new product portfolio.

Capture all Ideas in a Centralized Repository

GenSight systematically captures new product ideas in a centralized repository. Anyone in the organization can contribute to the ideas hopper, develop existing ideas and make valuable suggestions towards the exploitation of intellectual property.

GenSight enables you to score and rank ideas, and when appropriate move them directly into the new product development funnel. Evaluation of ideas is accomplished via a gating processes supported by objective assessment and scoring. GenSight helps you identify the best ideas and concepts, and to encourage collaboration so that ideas can be advanced to full new product development activities.

GenSight is fully certified as Stage-Gate® Ready, and is 100% compliant across all three areas of Idea Management, Idea to Launch, and Portfolio Management. The Stage-Gate methodology, developed by Dr. Robert Cooper, is widely accepted as the worlds most proven approach to new product development.

For Executives
• Align activity to strategy
• Monitor R&D/NPD performance
• Prioritize investment
• Maximize ROI


For Managers
• Better stage and gate decisions
• Real-time view of all projects
• Faster time-to-market
• Clear priorities


For Team Members
• Information sharing and collaboration
• Project knowledge base
• Saves time on reporting
• Clear priorities and tasks

Integrated stage and gate support
• Workflow management
• Electronic signoff
• Exception alerts
• Document management
• Project status tracking


Real-time Interactive dashboards
• Senior management dashboards
• Project/Resource dashboards
• Portfolio analytics
• Risk assessment


Prioritization
• Graphical decision support
• Scenario planning
• Resource requirements planning
• Resource allocation and time recording


High performance web based system
• Role based security access
• MS Project integration
• Proven technology platform
• Supports thousands of projects/users
• Fully configurable to your NPD process

Project Portfolio Management

Graphically view total R&D / NPD project portfolio.
Clearly see balance by business, goal, project type etc.
Maximize ROI & strategic fit.
Visually model and explore alternative scenarios.

Stage and Gate Management

Better decisions – Clear and simple criteria for feasibility, with more stringent financials at later stages.
Clear criteria for gate decisions integrated in business case.
Integrate prioritization into each stage and gate.

Prioritization

Objectively prioritize using multiple weighted criteria.
Identify projects with highest ROI and linkage to strategy.
Combine financial, qualitative and strategic criteria.

Reporting and Analysis

Role-based dashboards with interactive graphical elements.
Real-time analysis to manage value, risk and alignment.
Performance tracking dashboards, by stage, business etc

Idea Management

Capture, share and develop ideas.
Qualify good ideas to develop further.

Project Management

Plan and monitor milestones.
Monitor RAG status across time, cost and quality.
Integrates with MS-Project

Resource Management

Plan resource requirements vs capacity, by role or skill.
Optimize portfolio to maximize return within constraints.
Assign named resources to projects, time recording.

Financial Management

Full visibility of planned costs and other financial metrics.
Monitor actual vs planned.
Integrates with ERP financial systems.

Workflow

Improves control and monitoring of gate approvals.
Defines a consistent new product stage and gate process.
Saves time of team members and project managers.
Auto alerts and exceptions reduce risk.

Document Management

All project documents stored centrally and shared globally.
Builds a searchable knowledgebase.
Shared information reduces duplicate or conflicting projects.