Strategic Project Portfolio Management
Enabling a Productive Organization
Chapter One
Obtaining the Best Ideas
Innovation is the central issue in economic prosperity.
Michael Porter
THE COST OF WASTED IDEAS
In any organization, every employee possesses a unique viewpoint. These
viewpoints create a tremendous opportunity. Under Toyota's production
system, which is seen as world class, not utilizing these employee ideas
is actually seen as a form of waste (Ohno, 1988). This waste is placed in
the same category as using more raw materials than are required, or the
inefficiency of having to repeat a process due to a poor quality outcome.
Thinking of failure to act on employee ideas as a form of waste helps to
define the opportunity for more effective portfolio management.
Employees have many ideas for improvement of the work that impacts
them. Some of these may be raised in the form of questions to the
manager. Why do we do it this way? Some may occur over lunch, ... read full excerpt from: Strategic Project Portfolio Management: Enabling a Productive Organization (Microsoft Executive Leadership Series #16) ebook