9 KPIs That Capture Innovation Performance
The number of metrics out there that are being used to measure product development number close to one thousand. There are metrics for projects, products, processes, technologies, functional and technical disciplines, degrees of innovation, and a host of other R&D and product development innovation subjects.
The metrics that we will focus on measure "overall performance" above and across the details of individual investments and cost centers, the KPIs of the business performance of R&D and product development. There are also a good number of these metrics and more are being created every month.
GGI was a pioneer of improved metrics and KPIs for innovation functions dating back to the 1980s. We have systematically researched industry usage of these metrics for years. We actively contributed to industry adoption of some great metrics such as the Vitality Index and ROInnovation, the two fastest penetrating metrics of the past five decades.
For this webinar, we have selected nine metrics that together go a long way to synthesizing the overall performance of corporate investments in innovation. For those metrics that you recognize from the list below, we will likely expand your knowledge of the metric and its benefits and drawbacks. For those metrics you do not recognize, we hope to introduce you to some useful performance indicators you may not yet be aware of.
The 9 KPIs
There are folks who have great passion for metrics, perhaps you are one. There are other folks that dislike metrics, the fewer the better. Good arguments can be made on both sides of the fence.
Regardless of your leaning, the folks that are in charge of bottom-line performance for revenues, profits, capital, and productivity, in a business unit, division, or at the corporate level, must have robust measures as it is their fiduciary responsibility. Right now, after all the years of measuring innovation, there are ZERO metrics that have been show to have a high and broad-based correlation with business outcomes. Until high correlations are statistically proven, responsible executives cannot live with one or two performance metrics. Too much is left uncovered. These 9 KPIs go a long way to capturing overall performance at P&L levels.
Bradford L. Goldense, President, GGI
Brad Goldense has been focusing on the strategies, tactics, and operations of product management, development, and manufacturing since the 1980s. He has authored over 300 publications and consulted to over 200 companies across the world. Some 500 companies have participated in his seminars and masterclasses. Mr. Goldense holds a BSCE from Brown University and an MBA from Cornell University; along with professional accreditations in new product development, engineering, manufacturing engineering, production and inventory management, and computing. Brad taught in the Executive Masters in Engineering Management program at the Gordon Institute of Tufts University for nineteen years. He has appeared on World Business Review, CNBC, and PBS.
Thursday, August 23, 2018 - 2:00 PM Eastern Time
Registration Is Open
Enhance your ability to truly capture overall innovation performance.