Innovation Project Portfolio Management: a meta-analysis

Lerch, Martin; Spieth, Patrick

doi:10.1504/ijpd.2012.047265

Cited by 7 publications

(5 citation statements)

References 10 publications

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“…Since firms in all types of industries are undertaking innovation projects as a growing part of their operations, modes like IPPM, which is aimed at structuring and controlling these projects, are needed (McDonough and Spital, 2003;Sydow et al, 2004;Whitley, 2006;Killen and Hunt, 2010;Petit, 2012;Lerch and Spieth, 2012). Even though previous IPPM literature is primarily atheoretical (Killen and Hunt, 2010), we have identified the resource-based view (RBV) and dynamic capabilities view (DCV) as two theoretical approaches that could help to address the research gaps and to guide our methodological approach (Killen et al, 2012;Lerch and Spieth, 2013).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Augmenting innovation project portfolio management performance: the mediating effect of management perception and satisfaction

Spieth

Lerch

2014

R & D Management

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Firms face the challenge of efficiently and effectively investing scarce resources in innovation projects in order to sustain or develop a firm's long‐term competitive advantage and sustainable growth. Innovation project portfolio management (IPPM) describes a firm's dynamic capability to assess the challenge of evaluating, selecting, and prioritizing innovation projects. The particular impacts of method usage, criteria usage, IPPM design, information availability, and internal interactions on management perception and satisfaction as well as on IPPM performance and innovativeness are hypothesized and tested. We found that methods and criteria play a negligible role in the IPPM context. IPPM design elements, like transparency and formality, are key drivers of high IPPM performance. Information availability is a key construct in driving IPPM performance, as well as management perception and satisfaction. Relevance of IPPM is supported by revealing IPPM performance's positive impact on firm performance, innovation project performance, and firm's innovativeness.

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Section: Theoretical Backgroundmentioning

confidence: 99%

Augmenting innovation project portfolio management performance: the mediating effect of management perception and satisfaction

Spieth

Lerch

2014

R & D Management

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“…Hence, firms increasingly employ portfolio management (PM) approaches to provide a holistic vision to align the portfolio with strategy, ensuring that valuable and balanced initiatives are pursued to maximize long-term return on investment [3]- [5], [7]. A large body of literature has dealt with the management of innovation project portfolios and ways to improve its successful execution [6]. The focus of previous PM research however lays predominantly on operational aspects through developing and improving methods for selecting, e.g., [7], [8] or terminating, e.g., [9], [10] new product projects.…”

Section: Introductionmentioning

confidence: 99%

“…This argues for a more strategic perspective of portfolio management. Second, while extant empirical studies focus on identifying performance effects of such PM government structures [6], [13], [14], the link between PM governance, portfolio innovativeness, and a firm's success has not been investigated yet. The way new product PM processes are steered and managed however has not been reflected as a driver for innovation yet.…”

Section: Introductionmentioning

confidence: 99%

Governing the Portfolio Management Process for Product Innovation—A Quantitative Analysis on the Relationship Between Portfolio Management Governance, Portfolio Innovativeness, and Firm Performance

Urhahn

Spieth

2014

IEEE Trans. Eng. Manage.

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Past strategy and innovation research has basically ignored potential effects of portfolio management governance issues on portfolio innovativeness, and thereby on innovation management results such as firm performance. Building on the dynamic capabilities view, we hypothesize that portfolio management governance enhances firm performance by enabling higher levels of portfolio innovativeness through market and technological aspects. Our findings support the relevance of considering portfolio management governance to explain higher innovation outcomes. In particular, we can show that formality and explicitness, information support, as well as partial review frequency have a strong impact on the innovativeness of the firm's product portfolio. Consequently, higher technological and market innovativeness drives firm performance. We derive implications for both managers and researchers.Index Terms-Dynamic capability, innovation project portfolio management, managing portfolio governance, portfolio innovativeness, quantitative study.

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“…Among this challenge is the belief that a strategy is implemented through operations rather than projects. One of the goals of PPM is the strategic alignment of projects to the organizational strategy, which enables a greater level of executive and stakeholder engagement to support project success [131]. In addition, that strategy is delivered through a combination of operational work as well as projects by the PMI definition of PPM.…”

Section: Achieving Strategic Alignmentmentioning

confidence: 99%

Strategic Innovation, Foresight and the Deployment of Project Portfolio Management under Mid-Range Planning Conditions in Medium-Sized Firms

Hadjinicolaou

Kader²,

Abdallah

2021

Sustainability

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The purpose of this paper is to examine the ability of a firm to innovate and absorb its innovative developments by borrowing concepts and models from project portfolio management (PPM). Using past research and the existing literature, it evaluates the potential to apply PPM to the medium-term strategic planning efforts of small- and medium-sized firms. The implementation of strategic innovation requires organizations to develop both a dynamic culture and flexible internal systems that yield to major external changes in their industry as well as internal resource changes. Such changes could include supply or value chain adjustments, changes in consumer behavior, re-allocation of internal resources or the responses of competitors. This paper examines the planning and implementation of project portfolio management tools in small- and medium-sized enterprises (SMEs) (50–250 employees) with a mid-range (2–4 years) planning horizon that are required to innovate in a strategic context to remain competitive or to take advantage of new opportunities. It relates strategic foresight to the ability of the firm to adjust tactically, including in the utilization and development of internal tools, processes, systems and culture. This paper contributes to the literature by examining the potential for PPM methodologies and models to support decision making in a strategic context in SMEs, an area that is under-represented in the research on strategy. It also relates this foresight with strategic innovation and draws parallels between the strategic management planning process and the use of project portfolio management models. It argues that strategic innovation is closely tied with the ability not just to innovate but to absorb this innovation within the organizational processes and build organizational maturity. It also examines the potential use of project portfolio management models to aid strategic innovation. The use of PPM models in support of strategic innovation may contribute to the sustainability of SMEs as businesses and to the potential to identify new business models that enhance the sustainability of a firm’s competitive advantage, particularly in mid-term.

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Innovation Project Portfolio Management: a meta-analysis

Cited by 7 publications

References 10 publications

Augmenting innovation project portfolio management performance: the mediating effect of management perception and satisfaction

Augmenting innovation project portfolio management performance: the mediating effect of management perception and satisfaction

Governing the Portfolio Management Process for Product Innovation—A Quantitative Analysis on the Relationship Between Portfolio Management Governance, Portfolio Innovativeness, and Firm Performance

Strategic Innovation, Foresight and the Deployment of Project Portfolio Management under Mid-Range Planning Conditions in Medium-Sized Firms

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