Planning the "unplannable" - the innovation management paradox

Abstract

R&D is often regarded as a fundamentally creative process that is best left to its own devices. This attitude, borrowed perhaps from popular cults surrounding modern-day celebrity technology entrepreneurs, can be found equally in start-ups trying to conquer a place in the competitive business landscape as well as in established multinational corporations serving steady markets. Empirical evidence based on personal experience seems to suggest this laissez-faire attitude is at the root of many innovation projects' failure mechanisms. Failing to properly plan for innovations often leads to failed innovations or even project cancelations. Main issues with innovation project planning and control I found to be tied to lack of a) technical expertise, and b) understanding of product development business processes and quality requirements, both of which result in insufficiently detailed and specified work breakdowns and correspondingly unrealistic schedules. Tackling these issues in a step-by-step approach often proves more helpful than solely focusing on expedited execution, relying on frenzied rescheduling efforts.