Specifics of innovation project portfolio management

Abstract

In an age of turbulence in modern business, where innovation is positioned as a key factor in creating competitive advantage and resource-oriented strategy, where human capital and intellectual property come to the fore, portfolio management of innovation projects becomes a powerful weapon, but only if handled properly. Differences between classic projects on the one hand and innovation projects on the other, characterized primarily by an extremely high degree of risk and impact of the human factor, i.e. creativity, require comparative analysis of the projects themselves and their portfolios, in order to reach the conclusions necessary for successful management of the innovation portfolio. Due to the specificity of the innovation projects and the innovation portfolio, the methods and techniques used in managing the portfolio of classic projects do not guarantee success if applied to the portfolio of innovation projects. Noticing the differences and peculiarities of both is the first step in creating a methodology that would deliver the expected results.

Keywords

• innovation projectcs
• innovation portfolio
• project management
• upravljanje portfoliom inovacionih projekata (ippm)