Success Of Innovation Projects Research Articles

Contribution of management practices to the success of innovation projects

Contribution of management practices to the success of innovation projects

Identification of risk types in innovation projects

Abstract Purpose The purpose of the article is an attempt to fill a research gap in the field of issues re-lated to innovation projects and, in particular, to identify the types of risks associated with their implementation in organizations. Current identification and monitoring of the level of occurrence of various types of risk in in-novative projects is a key task for project managers in order to make effective decisions on how to eliminate or reduce them. Design/methodology/approach The empirical verification is based on the methodology of our own research. The study developed and used a questionnaire for owners and managers imple-menting innovative projects. Findings This research, and the results we obtained, make it possible to answer how innovation projects are treated in organizations, what the dynamics of the implementing various types of innovation projects in recent years has been, and the level at which various types of risk in in-novation projects have been assessed and identified. Practical implications The literature review and research results show that the issue of risk in innovation projects is timely and important for many organizations, even more so for project managers looking for effective methods of identifying and managing it. Identifying the level of risk is crucial for the success of innovation projects because it reduces the negative impact of risk factors on a project’s timeliness and budget, as well as its economic and technical-technological effects. The authors emphasize that it will be worth continuing the undertaken research and work towards identifying and evaluating all components of risk management sys-tems. Proper identification of risks in projects, and understanding their nature, is a kind of guar-antee of security for the organization implementing them. Originality/value For the purpose of carrying out this empirical research, we adopted our own classification system of the types of risk associated with various innovation projects undertaken by organizations. Risk categories should be well-defined, corresponding to typical sources of risks for a type of innovation project in a given industry and the specificity of company’s activity. The types of risk most frequently named by respondents across six types of projects were time, personnel and cost.

Management Practices and Success of Innovation Projects

Innovation projects occupy a privileged place in human activities: they are carriers of socio-economic values and levers of strategic positioning. This article improves understanding of the success of innovation projects in Chad through project management practices (PMP) and benefits management practices (BMP). To achieve this, the literature has made it possible to propose a model for representing success. The mixed methodology was used. It was applied to the Grand Ecosystem Lacustres Tchadiens (GELT) project. The results show that PMPs are more effective in achieving innovation management success (β = 0.38) but also investment success (β = 0.21). On the other hand, BMPs are better predictors (β = 0.39) of investment success. However, PMPs and BMPs, when combined, are the preferred lever to generate (Δr2= 92%) the success of innovation projects.

Совершенствование инструментария оценки эффективности инновационного обеспечения промышленного развития в особых экономических условиях

The economy of the Donetsk People's Republic is currently functioning in conditions of extreme uncertainty due to prolonged military operations in the region. This circumstance encourages researchers to search for new tools for evaluating the effectiveness of innovative support for industrial development in special economic con-ditions. Within the framework of this article, it is substantiated that in modern conditions of the formation of a new technological order, the state should determine the priority directions of industrial development of the terri-tory on an innovative basis. The necessity of state participation in the organization of “growth centers”, in partic-ular, business incubators and technology parks with state guardianship, is proved. Quantitative criteria that can be used to assess the effectiveness of the technopark are analyzed. As a research task, the authors identified an attempt to assess the success of innovative projects of industrial development by taking into account the risk of military operations in special economic conditions. The application of military operations coefficient in the calculation of indicators of budgetary efficiency in the implementation of innovative projects of industrial devel-opment is justified.

Contribution of management practices to the success of innovation projects

Contribution of management practices to the success of innovation projects

Organization Learning and Search Track: Innovating Under Constraints Within and Beyond Organizational Boundaries

This symposium offers insights on the role of constraints in creativity and innovation processes within and beyond organizational boundaries. The presenters will share theoretical and empirical investigations of how constraints, such as time pressure, access to resources, and societal challenges affect and shape innovation processes. The research presented in this symposium will involve data collected from various research contexts, such as open innovation to solve societal problems caused by the COVID-19 pandemic in Germany and to develop medical devices to address the ventilator shortage problem around the world, teams competing in an internal innovation competition, creative teams working in the Hollywood animation industry, and creating a new culinary paradigm in fine-dining. Collectively Tackling Societal Challenges: Transcending Boundaries through Open Social Innovation Presenter: Johanna Mair; Hertie School of Governance Presenter: Thomas Karl Gegenhuber; Johannes Kepler U. Linz Presenter: Laura Thäter; Hertie School of Governance Presenter: Rene Lührsen; Hertie School of Governance Breathing Fresh Air into a Broken System: Accelerating the Innovation Process for Ventilators Presenter: Hila Lifshitz-Assaf; New York U. Presenter: Steven Randazzo; - Presenter: Olivia Jung; Emory U. A Problem Half-Solved is a Problem Well-Stated: Team Problem Discovery & Innovation Project Success Presenter: Johnathan Cromwell; U. of San Francisco Presenter: Jean-François Harvey; HEC Montreal Creative Starvation: How Resource Endowments Shape the Financial Resources-Creativity Relationship Presenter: Pier Vittorio Mannucci; Bocconi U. Pressure cooker: The role of constraints in the creation of molecular cuisine breakthroughs Presenter: Ivanka Visnjic; ESADE Business School Presenter: Sebastian Raisch; GSEM - U. of Geneva Presenter: Marcel Planellas; ESADE

Analysis of the effectiveness of financing projects using crowdfunding

Purpose – analysis of key performance indicators (KPIs) for the success of innovative projects that try to raise funds indirectly through crowdfunding platforms. Research Methodology. The interdisciplinary method of discourse analysis and systematic approach were used in the context of this work; the comparative method allowed to determine the optimal approach to the problem. Scientific novelty. The field of financial support lacks tools to encourage market participants to provide them with ideas and projects that can be financed through crowdfunding. Conclusions. The following indicators influence the creation of a viable crowdfunding mechanism and the growth of fundraising: narrative (or previous history), a clear goal and planned duration of the project; investment in communication schemes and visualization of advertising, and third-party support (positive feedback) focus on the pledge process rather than on the financial goal; distribution of crowdfunding into structured categories. At the same time, the success of crowdfunding is not tied to the size of the reward and any location. Key words: crowdfunding; key performing factors; alternative financin

Understanding Matchmakers\u2019 Experiences, Principles and Practices of Assembling Innovation Teams

The team composition of a project team is an essential determinant of the success of innovation projects that aim to produce novel solution ideas. Team assembly is essentially complex and sensitive decision-making, yet little supported by information technology (IT). In order to design appropriate digital tools for team assembly, and team formation more broadly, we call for profoundly understanding the practices and principles of matchmakers who manually assemble teams in specific contexts. This paper reports interviews with 13 expert matchmakers who are regularly assembling multidisciplinary innovation teams in various organizational environments in Finland. Based on qualitative analysis of their experiences, we provide insights into their established practices and principles in team assembly. We conceptualize and describe common tactical approaches on different typical levels of team assembly, including arranging approaches like “key-skills-first”, “generalist-first” and “topic-interest-first”, and balancing approaches like “equally-skilled-teams” and “high-expertise-teams”. The reported empirical insights can help to design IT systems that support team assembly according to different tactics.

Control Mechanisms and Leadership Styles: A Conceptual Framework for Innovation Projects

This is a conceptual paper discussing how to undertake innovation in an organization as a project, and the components of the structure and leadership style as factors that support the implementation of the project. It reviews previous research related to organizational, leadership and control theories. It focuses on introducing the role of leadership and control structures into innovation projects. The suggested structure to be adopted is a mixed combination of organic and mechanical structures. This article argues the importance of the existence of a control mechanism to regulate the project; this functions as a set of tools to control the dynamics of the organizational structure in the project. It also reveals transformational leadership as the most suitable leadership style to control and deliver a successful innovation project. At the end, this article proposes several propositions to be tested further in empirical work. Some discussions about optional research methods are also presented.

Methodology for managing the quality and competitiveness of innovative projects in Africa

The article presents a methodology for managing the quality and competitiveness of innovative projects in Africa. One of the main directions chosen by the authors to solve this problem is the development of tools for an objective assessment of the competitiveness of innovative projects. With their help, it is important to constantly improve the quality management methodology and the competitiveness of innovative projects in Africa in the context of market relations. Despite all these economic difficulties in Africa, young people are always looking for innovative companies and are always looking for unique ideas to guarantee their position in the local market and even in the global market, such companies are even becoming a tough competition for large European companies. Successful innovation projects in Africa, in addition to their national significance, are the most necessary reasons to strengthen the competitiveness of companies and increase their value in national and international markets. At the same time, the lack of municipal assistance for innovation, the lack of partnership between universities and industrial enterprises, and the lack of development of institutions that Finance basic research lead to a technological lag in comparison with competition, and, consequently, the results of scientific research deteriorate technical and industrial activities. The main goal of the methodology for managing the quality and competitiveness of innovative projects is to ensure the improvement and continuation of innovative activities. This technique helps to ensure the continuity of the improvement process. The goals set by African company managers are to manage the company operationally as a lever of acceleration through quality and competition policies and to make decisions about the proper functioning of the company, taking into account its development goals.

EVALUATION OF RISK IMPACT ON IMPLEMENTATION OF INNOVATION PROJECTS WITHIN THE FRAMEWORK OF MACHINE-BUILDING QUASI-INTEGRATION STRUCTURES

The risk management of innovation project can improve the level of risk control of quasi-integration structures (QIS), so as to make more effective decisions, reduce investment losses and achieve mutual benefit as well. Therefore, an assessment of the risk impact on implementation of innovation project makes this study relevance. The purpose of this paper is to analyze the impact of market risks on the success of innovative QIS engineering projects with the involvement of an economic-probabilistic model based on a conjoint analysis. Research methodology. The article substances the feasibility and results of the application of the method of conjoint analysis – one of the methods of mathematical psychology – to assess the impact of risks on the effectiveness of innovative projects implemented within quasi-integration structures in the engineering complex. Findings. The most likely scenarios for implementing an innovative project in terms of the impact of risk events on the financial result had been found with a help of a conjoint procedure with a fractional factorial design. The relative impact of each risk on the success of the innovation project was evaluated. The rule of deciding on the eligibility of an innovative project by the participants of machine-building QIS was formulated on the basis of the technique of the internal rate of investment return (IRR). Research limitations. The developed methodology is proposed to be used in assessing the impact of risks on innovative projects within machine-building quasi-integration structures. The proposed method of assessing the impact of risks on the financial results of innovative projects within the machine-building QIS can be used in more general situations. Practical implications. The methodology was tested on the example of an innovation project within an innovation and technology cluster, which included six participants: mechanical engineering companies, a service company, a scientific institution and an educational institution. The market and specific inter-corporate risks that influence the results of innovative projects within machine-building QISs were identified and evaluated for operationalization. According to the results of implementation of the methodology, the feasibility of implementing an innovative project within the innovation-technological cluster was substantiated. Originality/value. The scientific novelty of this study is the use of a conjoint analysis methodology to assess the impact of market risks.

The Influence of Team Continuity and Prior Experience on the Success of Innovative Projects

This study focuses on sequences of projects as a way to address the challenges of ambidexterity. We investigate the performance influence of team member continuity and domain experience across projects dependent on the projects’ novelty. We propose that a moderate level of team continuity and a higher degree of domain experience leads to higher project success for high project novelty. We test the hypotheses on a sample of 3,122 movie projects from the Hollywood film industry. This research setting allows to uniquely differentiate between team member’s previous experience, social ties, and project novelty. We applied topic modeling on movies’ plots to measure experience and project novelty. The results indicate that team continuity has a positive but decreasing influence on project success. This influence further decreases for higher novelty. Surprisingly, the results show that higher domain experience is hindering work performance for high levels of novelty. A lower level of domain experience is more favorable for the team to perform more successfully. This study offers contributions to the literatures on teams, knowledge, project management, and social network theory by offering new insights into the consequences of team composition for project sequences in innovative contexts.

Contingent Effects of Decision-making and Customer Centricity on Public-Sector Innovation Success

ABSTRACT Public sector organizations need to become more innovative to meet growing demands for better services. Innovations enhance public sector efficiency. It is the speed and efficiency of the public sector that determine the cost-effectiveness of operations. The latter then boost national competitiveness and prosperity. However, the paucity of studies on public innovations does not afford much knowledge on the key determinants that amplify innovation success, particularly in the context of a developing economy. This paper investigates how three major elements of dynamic innovation capabilities, namely technological, marketing, and team organization capabilities, affect the success of public sector innovation projects. The paper also explores the contingent effects of project management (decision-making comprehensiveness, management direction) and customer emphasis (customer solution orientation, external integration) on the domain relationships. This exploration is important to determine if the extent of comprehensiveness in decision-making in exploiting the opportunities for innovation has a greater desired impact on service delivery. Also, innovations pursued independently of customer needs and expectations are bound to fail. Analysis from survey data of 225 Innovative and Creative Circle (ICC) public sector projects in Malaysia indicate that technological, marketing and team capabilities are antecedents of innovation success in the public sector. Indeed, team capabilities represent the more important factor. Decision-making comprehensiveness, management direction, customer solution orientation, and external integration were found to exert significant moderating effects. We discuss important implications for public administrators to uplift their effort toward realizing successful innovation projects.

A szeizmikus reflexiós módszerek szerepe a nem szénhidrogénipari kutatásokban Magyarországon – Példák a Magyar Bányászati és Földtani Szolgálat és elődei tevékenységéből

Az Eötvös Loránd Geofizikai Intézet kutatási hagyományait megőrizve a Magyar Bányászati és Földtani Szolgálat keretein belül jelenleg is folynak alkalmazott szeizmikus kutatások a mai igényekhez alkalmazkodva. Az archív földtani adatok és az új szeizmikus mérési eredmények együttes értelmezésével hatékonyan csökkenthető a kutatási fázis (rövidtávú) földtani kockázata, így az ezek segítségével kialakított földtani modell jelentős mértékben hozzájárulhat egy a földtani közeget érintő beruházás sikerességéhez. A földtani képződményeket is érintő beruházásoknál, legyenek azok nyersanyagtermeléssel, hulladék elhelyezéssel, vagy akár építésföldtannal kapcsolatosak, a legnagyobb bizonytalanságot az egyes földtani képződmények lehatárolása, kőzetfizikai állapotának, inhomogenitásának meghatározása jelenti. Ezek térképezése pontszerű fúrási adatok alapján csak nagyfokú bizonytalanság mellett tehető meg. 
 Jelen munkában három magyarországi esettanulmányt ismertetünk, melyeknél kézzelfogható, hogy a projektek teljes költségvetéséhez képest kis kutatási költségeket jelentő szeizmikus mérések milyen pozitív hatása van a földtani bizonytalanság csökkentésében.
 A Nyugat-Mecsek területén tervezett nagyaktivitású atomhulladék tároló létesítésnek feltétele, hogy a megcélzott földtani közeg, a Bodai Agyagkő Formáció (BAF) kiterjedése, vastagsága, térbeli pozíciója a tervezett paramétereknek megfeleljen. Az új szeizmikus eredmények alapján a BAF elterjedésének nyugati határa módosult, a területet tagoló szerkezeti elemek lefutása pontosítható volt, illetve megerősítést nyert az intenzív miocén szerkezeti mozgások jelentősége.
 A Győri Geotermikus Projekt Pér–Bőny környéki geotermikus kútpárjai egy többlépcsős szeizmikus kutatás eredményeként kerültek lemélyítésre. A projekt gazdaságosságának kulcsa a repedezett, karsztosodott karbonátos víztartóban a megfelelő vízadó képességű, jelentős mélységű, de laterálisan korlátozott méretű vetőzónák kitérképezése volt, melyhez a fokozatosan közelítő 2D és 3D szeizmikus mérések szolgáltattak lokális, részletező szerkezeti ismereteket.
 A nyugat-borsodi Sajómercse szénterület földtanában a legkevésbé ismert, így gazdasági szempontból a legnagyobb kockázatot jelentő képződmények a vetők. A 2019-es kismélységű szeizmikus kutatás keretében a nagyfelbontású karotázskorreláció alapján feltételezett vetők bizonyítást nyertek, kinematikájuk tisztázódott: a szeizmikus szelvények alapvetően transzpressziós tektonika jelenlétére utalnak. Továbbá számos olyan kisebb, de a széntelepek vastagságával összemérhető vetőt sikerült kimutatni, melynek létezése eddig ismeretlen volt.

Risk Assessment of Innovative Projects Implementation in Enterprises Using Artificial Neural Networks

The purpose of this paper is to shed new light on the issue of risk assessment in implementing innovative projects. Based on the ideas of George Kleiner and artificial neural network tools, this paper interprets the possibility of completing successful innovation projects in terms of risk management. The argument is buttressed with a case study of a set of Russian enterprises implementing innovative projects. Successful completion of an innovation project depends on a number of risk factors identified at the project start. The identified set of risk factors should include both innovative risk factors and non-innovative risk factors. This fact was established during the cluster analysis of the available data. The paper excludes from consideration the anti-risk management impact and does not take into account the weights of various risk factors in the problem formalization. The practical application of the results of the study is decision makers’ quest to strike a visual interpretation of the final data with a small number of possible scenarios that differ significantly from each other. This research contributes significantly to the literature on the risk assessment model of innovative projects. The failure of managers to balance the assessment of innovative risk factors and non- innovative risk factors is exposed as the root cause of the unsuccessful completion of innovative projects.

Come together: case specific cross-institutional cooperation of youth welfare services and child and adolescent psychiatry

BackgroundDue to the increasing rate of children and families who require support from both youth welfare services and from mental health services, a solid cross-institutional cooperation is needed to provide coordinated and integrated help. Studies involving not only qualitative, but also quantitative information from both services regarding not only general, but also case specific views on cross-institutional cooperation and psychosocial needs are lacking.MethodsHence, we collected data from n = 96 children and families who received support from youth welfare office (YWO) and child and adolescents psychiatry (CAP) simultaneously. In a longitudinal survey, we assessed the evaluation of case specific cross-institutional cooperation and psychosocial needs by employees of YWO and CAP as well as descriptive data (including psychopathology of children) over a 6-month period. Repeated-measures ANOVAs were conducted to assess the effects of time and institution (YWO/CAP) on employees’ evaluation of case specific cross-institutional cooperation and psychosocial needs as well as children’s psychopathology.ResultsThe data showed that generally YWO employees rated the case specific communication better than CAP employees. Furthermore, CAP employees estimated psychosocial needs higher than YWO employees did. The employees’ evaluation of total case specific cross-institutional cooperation did not differ between the employees of both institutions; it further did not change over time. The case specific evaluations did not correlate between the case responsible employees of YWO and CAP.ConclusionThe data showed satisfaction with the case specific cross-institutional cooperation in general, but meaningful differences in case specific ratings between both institutions indicate the possibility and need for improvement in daily work and cooperation as well as in regulations and contractual agreements. The implementation of more exchange of higher quality and transparency will ensure smoother cross-institutional cooperation. Future research should pursue this topic to convey the need for further improvement in cross-institutional cooperation into decision-making processes and to evaluate the success of innovative projects in this field.

Territorial interaction is the basis for the development of a small innovative enterprise and other territorial enterprises

The interaction of a small innovative enterprise with territorial enterprises aimed at their socio-economic and innovative development is examined on a specific example, which is important for the development of the regional economy. The authors determine and examine the major areas of enterprise cooperation, access their state and suggest the development indicators. This paper describes the influence of state support through the Innovation Promotion Fund on the development of small innovative enterprises, as well as other territorial enterprises that receive orders from these organizations. The results of the study demonstrate that territorial enterprises can create a system of close cooperation at the local level, promoting their development on terms of mutual interests. The private sector shows interest in participating in the production of innovative products. The proposed model of building an innovative territorial business can be applied by many small, medium, large enterprises in the field of electronic component base, as well as in other industries to create a successful innovation project. Further improvement of the state policy in relation to small innovative enterprises can accelerate the transformation of these enterprises into independent, in-demand research engineering and technology organizations that ensure the development of existing manufacturers of high-tech products based on contract manufacturing.

CONCEPTUAL DIRECTIONS OF CHINA’S INNOVATION ACTIVITIES STIMULATION IN THE GLOBALIZATION CONDITIONS

The conceptual foundations research results of the People's Republic of China (PRC) innovation system transformation and the determination of the directions for stimulating its innovative activity have been presented in the paper. The purpose of the article is the disadvantages identification of the PRC’s scientific and technological policy and based on its generalizations, determination of the main directions for improving the legislation of the PRC’s in the field of science and technology, as well as the substantiation of scientific and practical recommendations for stimulating the innovative activities of the PRC in the context of globalization. In the course of the research, the disadvantages of the scientific and innovation policy of the PRC are analyzed and it is pointed out that the awareness of these problems and tasks led to the transformation of China's state innovation strategy towards comprehensive support of innovative entrepreneurship. One of the successful manifestations of this program is the rapid development of new organizational technical and financial forms that stimulate and support their innovative activity, namely: hackspace, business incubators, business angels and private venture investment funds, focused mainly on innovative small and medium-sized enterprises (SMEs) financing. The main directions of improving the legislation of the PRC in the field of science and technology have been identified, namely: highly qualified personnel potential increase by expanding accessibility and improving the quality of education; a combination of a centralized state policy in the field of science and technology with the involvement of private capital to the scientific and technological sector; inclusion of research organizations in the structure of production companies and holdings, as well as encouraging the introduction of new technologies in production; popularization of science and technology, the formation in the public mind of the idea of the extreme importance of the scientific and technological base for the successful and harmonious development of the country as a whole. It is concluded that the dynamics of the development of new elements in the landscape of innovative entrepreneurship in China is interdependent. Joint R&D activities in Chinese realities will contribute to increasing the economic success of innovative projects, and the expansion of innovative activity in the field of small and medium-sized businesses will serve as a powerful impetus for the development of the private venture capital market in China.

Innovative Financing for Enterprises

The industrial and innovative development of Kazakhstan accounts for the growth of the national economy. Although the return on investment in innovative business is quite high in the global financial market in general, individual investors may either get very high profits or lose all their invested funds, which is unacceptable for enterprises.Therefore, it is especially important to define strategic approaches to reduce the potential loss ratio and increase the commercial success of innovation projects. For this purpose, it is necessary to properly and systematically form the financing sources of enterprises’ innovative development, the effectiveness of which is confirmed by international and Kazakh experience.On the other hand, it is important to determine directions and conditions for the use of these funds in the course of the innovation process, since the timely suspension or termination of the project will significantly reduce possible losses.

Measuring radical innovation project success: typical metrics don’t work

PurposeFirms frequently struggle with measuring the performance of their radical innovation activities. Due to the uncertainty and ambiguity involved, key performance indicators (KPIs) used for incremental innovation projects are often not useful in this context. The purpose of this paper is to explore suitable KPIs particularly useful for radical innovation projects.Design/methodology/approachThis study first reviews commonly used measures for innovation projects, which is then followed by case-study evidence from three industry-leading international firms. This study includes 13 in-depth interviews with innovation managers and directors in these firms, providing insights on how they measure the progress and performance of radical innovation projects.FindingsKPIs used commonly in incremental innovation showed lackluster results in the case firms and were problematic for radical innovation context. A key finding was that radical innovation project performance should be evaluated based on the process rather than on the expected outcome. Concurrently, based on the literature review and the cases, three sets of KPIs with 13 specific KPIs useful for radical innovation projects are proposed.Originality/valueThe paper addresses a core challenge in using established KPIs in a radical innovation context. The paper gathers and synthesizes a range of measurement points suitable for radical innovation projects and provides specific suggestions for appropriate metrics that innovation managers can use.