Idea Selection
Selection varies as the business case matures. This is also logical as ideas become clearer and more concrete. While we always customize selection, here we share examples of selection at different phases. What is important is that you don’t kill ideas early only due to feasibility concerns, as that kills more radical and bigger innovation.
R-W-W (Real, Win, Worth-It)
The R-W-W criteria is based on a Harvard Business Review article by George Day. There we can find more details on each of the 3 main questions (level 1). Each includes two sub-questions (level 2), namely:
- Is it real?
- Is the market real?
- Is the product real?
- Can we win?
- Can the product be competitive?
- Can our company be competitive?
- Is it worth doing?
- Will the product be profitable at an acceptable risk?
- Does launching the product make strategic sense?
In turn, each sub-question (level 2) has several questions associated to it (level 3). Typically, in the business opportunity plan phase we only ask management to rate on the 3 overall questions only (level 1), and in subsequent phases (e.g., after inception) they can start rating sub-questions (level 2 & 3).
Regardless of the criteria you use, it is key to define how you will select across phases. The criteria used can be especially important in not killing big ideas early and getting managerial alignment on which ideas to select and why.
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