The innovation funnel is:
A) A portfolio approach to managing projects.
B) A framework for the increasing resource commitment/decreasing uncertainty relationship.
C) A type of forecasting method.
D) A software tool to assess risk and uncertainty.

Question

Quizplus · Accepted Answer

The innovation funnel is a framework that represents the process of decreasing uncertainty while increasing resource commitment as ideas progress from conception to implementation. It helps organizations manage the development of new products or services by filtering out less viable options as they move through stages of development, thereby focusing resources on the most promising projects.

The Innovation Funnel Is