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Welcome to Innovation+ Talks. Each week our host, Paul Heller talks at the executive level about how strategic innovation and new product development are essential for thriving in the modern marketplace. Paul is regularly joined by top executives and cross-industry thought leaders who share their unique insights and key learnings garnered from decades of experience.

Dec 13, 2021

Peter Fürst is a managing partner for Five i’s Innovation Consulting and Qualify Your Innovation with more than 20 years of experience in idea generation, new product development and innovation, Agile Stage-Gate, and project selection for market success. Peter has over 10 years of experience in innovation consulting and education as a lecturer in Innovation Management at the University of Applied Sciences in Vorarlberg. He was previously a consultant with Simma & Partner Consulting and is currently a volunteer coach at Kids OpenLab. Peter studied Business and Managerial Economics at the University of Innsbruck.

Peter joins me today to discuss various innovation topics. He reveals the five i's of innovation as well as their applications in the business world. He highlights how innovation has changed over the past 15 to 20 years and explains why many companies have lost the gating part of the Stage-Gate process. Peter shares when Agile and Stage-Gate are appropriate and why Waterfall is not Stage-Gate. He identifies the most significant risks to projects. Peter also argues why choosing a methodology or system is less important than doing them right and following the rules.

"Do not spread your resources and energies on too many things. Focus on the best things, get them through your system fast, and get to market fast." - Peter Fürst

This week on Innovation Talks:

  • The five i’s of innovation: innovation systems, innovation projects, ideation, innovation strategy, and innovation culture
  • How the Stage-Gate process has evolved over the last 15 years
  • Why the structure and risk management system with gating and portfolio management are needed to decide which project to stop or do
  • The strengths of Agile and when it is not the correct project management method
  • How to leverage the Spiral Model during development and the role of education in project launch
  • The risks to projects that do not have enough focus on resources

Resources Mentioned:

Connect with Peter Fürst:

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