TECHNOLOGY ASSESSMENT: WHY YOU MUST AVOID THESE 4 MISTAKES

Technology assessment is one of the most important aspects of innovation development. However, big companies often undermine their importance. If you’re still stuck with a conventional approach to innovation, you’re more likely to be committing these four mistakes which can be detrimental to your innovation growth.

 

Not Focussing On Assessment Methodology

Did you know that 80% of the companies don’t have a dedicated and tested assessment methodology? Most of the innovation departments, either deliberately or inadvertently fail to focus on assessment methodology which costs them dearly when they struggle with finding a matching solution. Without a robust assessment methodology, your innovation department will face multiple challenges including convincing the management about a prospective matching solution. It leads us to the second most common problem that occurs when there is no effective assessment methodology.

 

Matching Solution Is Not Clearly Aligned With The Assessment

The assessment report of any solution is a critical piece of information that will impact the decision of the management. Regardless of how great a solution you find, if the assessment report is not aligned, it will dampen the management’s enthusiasm for change. A lot of times, innovation departments find themselves at odds with management as they don’t get convinced with the matching solution. To avoid these situations, you must devise an effective assessment strategy.

 

Conventional Evaluation Doesn’t Work With Innovative Products

The conventional evaluation processes don’t work as intended with innovative products. The technology landscape is fast-changing and no ‘one box fits all’ assessment methodology. As such, it is important to have a flexible assessment methodology that helps test the feasibility of a given solution. It is equally important to not get swayed by the buzzwords or let the publicity tricks impact the assessment process.

 

Don’t Overthink

When it comes to assessing a matching solution, a balanced approach is key. Overthinking the issues with a matching solution without focussing on ways to address those issues is a very common mistake. The right approach is to avoid “overdoing” assessment and having set criteria about how much to enquire and assess before moving on to the next step of creating a proof-of-concept. Also, you must allocate the time adequately between technology assessment and developing the proof of concept. Assessment is critical but you must not spend your time disproportionately as testing how you can best adapt the matching solution is equally important. If there’s an imbalance, the entire innovation development process can be significantly delayed.

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Innovation runs fast. Every year thousands of new solutions come to light. Nevertheless, it is acceptable to spend months in finding a unique technology solution matching a company's needs and even years in achieving the adoption of the technology. But with the large pool of technologies available on the market, why does it need such an enormous amount of time to find matching solutions? Download the Mastering Technology Scouting Guide - and we will show you how to boost your innovation process.