In an organisation there are multiple departments and each department there are skilled and technical persons exist where they can give various innovative ideas to a problem. So, in order to keep track and have clarity on the idea the idea management exist …
What is Idea Management
Idea management is a structured process of generating, capturing, discussing and improving, organizing, evaluating and prioritizing valuable insight or alternative thinking that would otherwise not have emerged through normal processes
To keep it simple – idea management is an organized procedure of gathering great ideas, identifying the best of them, sorting valuable insights and implementing them within the organization. Ideas can be about implementing new products, ways to improve business processes, cost savings, maximize efficiencies and more.
How to Implement Idea Management
Typically, the idea management is a centralized model which is utilized by organizations with less than 200 employees.
In this model, employees bring up new ideas against the business challenges posed and place them into a transparent system. Top core team of organization will then be notified of the idea posted.
After basic evaluation of the idea, core team and respective employee work collectively to advance it further. If an idea isn’t appropriate, then the no-go decision is announced to employee automatically using the idea management system by changing the status against it.
Once an idea is accepted by panel members, the idea may be developed as an ongoing/existing project. The project lead will be made responsible for updating the status of the idea to the respective employee.
If the idea development involves gateways where additional choices need approval from the core committee of the organization, there will be trigger back in an idea management tool to them. The core committee people, as well as project supervisor, are responsible for the project implementation, monitoring the outcomes and making decisions about how to additionally improve it.
As per leading research company claims that 53% of global services decision-makers are investing in emerging innovation and idea management technologies to drive innovation.