Meaningful measurements that lead to timely learning, corrective actions and improvements are key to support the management of innovation activities in an organization to ensure its survival and beneficial evolution (i.e. enhanced competitiveness for businesses and/or enhanced effectiveness and relevance for public-oriented organizations).
This proposed Tools and Methods standard is complementary to the ISO56002 Innovation Management System standard. It will provide guidance for the definition, implementation, evaluation and further improvement of the measurements necessary to manage effectively innovation operations in an organization.
Specifically, this standard will guide:
- The planning for the alignment of innovation measurements to the organization’s strategy, operational objectives and innovation management system;
- The selection of indicators to measure the progress of innovation activities and performance of the innovation portfolio.
- The design of ways to measure each indicator (via quantitative or qualitative metrics) in a clear and actionable way;
- The choice of frequency and expected performance targets for innovation measurements;
- The provision of necessary support to undertake innovation measurements efficiently and manage their evolution: funding, people, infrastructure, legal aspects, documentation and communications;
- The evaluation of measurement results, taking corrective action, learning and communicating;
- The review and update of the organization’s innovation measurements in terms of effectiveness in achieving intended innovation results and minimizing risks.
The guidelines to innovation measurements provided by this standard will be useful for all types of organizations (irrespective of sector and size) and all types of innovations (independent of time horizons).
This standard provides guidance at a general level. While it gives some examples of measurements in use, it does not prescribe any specific tools, methods for innovation measurements or metrics.