CIO Playbook for Managing Innovation Portfolios
Being a CIO today means more than keeping the lights on. It's about driving new ideas and making sure your team is always ready for what's next. One way to do this is by managing your innovation portfolio the right way. Think of it like handling a garden—some seeds need water now, some need sunlight later, and others might not grow at all. That mix of care and smart choices is exactly what a strong innovation portfolio needs. If you’re looking for helpful insights to get started, check out https://innovationvista.com/ for some solid information.
So, how do you juggle all the different types of innovation without getting overwhelmed? It helps to start by breaking your projects into three rough categories:
- Core Innovations: These are the improvements to what your company is already doing. You might tweak an existing system to make it faster or safer. These ideas often bring quick wins and keep the lights brighter, so to speak.
- Adjacent Innovations: Here, you're stepping just outside your usual zones, using your strengths in new ways. Maybe your company sells cars, and now you're experimenting with car subscription services. It's different—but still close to home.
- Disruptive Innovations: These are the bold bets. They're riskier and might take longer, but they have the power to really shake things up and lead to huge growth.
Successful CIOs try to keep a good balance of these project types. Too much focus on the “core” might make your company stale. But putting all your resources into “disruptive” ideas could hurt your budget or leave existing systems behind.
It also helps to keep the big picture in mind. Ask yourself: Do our innovation efforts support the company’s goals? Are we helping our teams try new things without punishing failure? Do we have a way to check in on progress, even for wild ideas? Having a few clear signs to track can keep your portfolio on course.
Finally, don’t do it alone. Talk regularly with your business partners and tech teams. Share updates. Ask questions. Good ideas can come from anywhere—and they often do.
Managing an innovation portfolio doesn’t have to be fancy or complicated. With a little structure and a good attitude, you’ll be planting the seeds for future success every day.