In a recent survey of global innovation executives, 42% said their development times were too long to generate a return on investment.
This is a significant problem, as it can lead to projects being cancelled or shelved before they can reach fruition. There are several reasons why this might be the case.
One is that organisations may try to do too much at once, leading to a lack of focus and coordination. Another is that there may be unrealistic expectations about what can be achieved in a given time frame. Finally, it is also possible that the resources allocated to innovation projects need to be increased.
Whatever the cause, it is clear that development times need to be shortened if organisations are to realise the full value of their innovation efforts.