RROI # 9: Observe and Measure

Observation and measurement – in terms of the performance of the program implementation needs to be built-in as a recurring element :

  • What’s Measured, Is Treasured: And that’s just human nature, so be sure to check and recheck performance – monthly.  No exceptions, no excuses. What gets measured gets done.
  • What to Look For?: the key performance indicators and metrics include:
    • R&D spending as a percentage of sales
    • Total patents filed/pending/awarded/rejected
    • Total R&D head count
    • Current-year percentage of sales attributable to new products released in the past year/three years/five years
    • Number of new products released

For a recent survey on Innovation Measurements see:  http://www.innovationcoach.com/resources/survey/ “What do you measure?”

For more Tips see “Robert’s Rules of Innovation” by Wiley, March , 2010