Develop Effective Evaluation
First and foremost, you must develop effective
idea evaluation criteria.
a broad list of criteria by which you wish to evaluate innovative ideas or
any proposed new course of action for your business. Your corporate
guiding principles will help you
streamline this brainstorming session. Having generated a lot of criteria,
select 20 most important ones. Then narrow this list down to 5 or 10 by
combining sister criteria or deleting weaker ones.
Define the Evaluation
Having finalized the list of criteria, weight
them according to their importance to your business. To evaluate an idea, rate how well it meets
each criterion. The highest rating of 10 would indicate the idea perfectly
meets that criterion. A rating of 0 would indicate the idea does not meet
that criterion in any way whatsoever.
The following formula is used to calculate the
total idea rating:
Sum of weighted ratings /
Highest possible total score × 100%
Generally, scores of 80% or higher indicate the
idea is very valuable and worth taking further.