Successful Pipeline Management
February 3, 2009: 6:00 PM - 9:00 PM
The “fuzzy front end” of product development is often the least scientific. While much rigor and metric discipline is devoted to the launch and measurement of new product introductions, little is done to gauge measure or categorize the pipeline of potential innovation investments. While the early phases of product innovation management can explore many different avenues, this discussion will highlight two early decisions that are critical to developing a healthy process for managing the innovation pipeline.
450 North Cityfront Plaza Drive
Driving Directions:Chicago Booth has arranged with the AMC Theater-River East Self parking Garage to provide discounted parking:
300 East Illinois Street (AMC Theater-River East Self Park Garage)
$6.00 after 3:00pm
Garage: Self Park Facility
Payment: Automated; at pay-stations by cash or credit card or upon exit pay by credit card only.
To receive discounted rate: There is a card validator at the first floor security desk of the Gleacher Center. The new system for the AMC Theater- River East Self Park Garage is automated. You will only need to insert your parking card in the validator and the new price will be automatically applied. You can validate your parking ticket at any time between your arrival at and departure from the Gleacher Center. When you leave the lot you will be charged for the lower $6.00 fee.
Tim Paul (Speaker)
Senior Manager: Consumer Driven Innovation, Allstate
Tim Paul was brought to Allstate four years ago to help manage the development of a new product and service innovation strategy for Allstate Insurance. He is responsible for creating a pipeline of new ideas, developing new product prototypes, market testing them and scaling the most promising ideas nationwide. He has played a leading role in the market success of several high profile new product initiatives within Allstate over the past four years.
Prior to Allstate, Tim was a Senior Associate at Prophet, a brand strategy consulting firm where he helped design and develop the launch of a new brand resulting from the merger of two leading Agri-businesses. Prior to Prophet, Tim was a Senior Associate at Kuzmarski & Associates, a new product development consulting firm where he lead numerous new product portfolio development initiatives for large global corporations across various industries.
Tim received a Masters of Business Administration from DePaul University in Chicago IL and a BA degree in History from Saint John’s University in Collegeville, MN.
The “fuzzy front end” of product development is often the least scientific. While much rigor and metric discipline is devoted to the launch and measurement of new product introductions, little is done to gauge measure or categorize the pipeline of potential innovation investments. While the early phases of product innovation management can explore many different avenues, this discussion will highlight two early decisions that are critical to developing a healthy process for managing the innovation pipeline:
1. Determining clearly defined idea categories: What are your companies “idea types”? Is the development process for market testing similar or different by type? Creating a series of set definitions can help formalize innovation delivery and innovation portfolio management.
2. Creating a broadly communicated set of decision making criteria: In the earliest phases of idea development, criteria that help determine what “idea type” an innovation concept fits under, how well it will/will not fit within the company’s strategic direction and how strongly the idea addresses certain internal and external goals is critical and too often overlooked.
This roundtable discussion will cover these two critical foundations for effective innovation pipeline management, with examples of idea categories, decision making criteria and market test expectation strategies. It should help provide the participant with an idea on how to formalize the front end innovation or at a minimum, provide stimulus for how to approach the innovation management conversation at your company.