An overview of tools for managing the corporate innovation portfolio

Abstract

Many prior studies concentrated on how to manage single new product development projects rather than on how to manage the corporate or business unit level portfolio of innovation projects. However, the use of different tools and techniques for planning, analysing, and evaluating a firm's portfolio of ongoing innovation projects may help to reduce many firms' managerial difficulties in innovation management. On the basis of a thorough literature analysis, this paper discusses the particular characteristics and key goals of innovation portfolio management. In addition, it provides an overview of tools for managing innovation portfolios.