Idea Management:

Fast Decision Making Techniques

Idea Evaluation by Weighted Criteria

Simple and Very Effective Technique for Evaluation of Innovative Ideas

By: Vadim Kotelnikov

Founder, Ten3 Business e-Coach Inspiration and Innovation Unlimited!

 

"A person with a new idea is a crank until the idea succeeds."

~ Mark Twain

The Best Idea Management Site

 

Idea Evaluation by Weghted Criteria Vadim Kotelnikov Ten3 Business e-Coach Competitive Advantage Inspiring People Innovation Leader Idea Evaluation by Weghted Criteria: Fast Decision Making, Idea Management, Innovation Tools
 
 

 

  The Jazz of Innovation: 11 Practice Tips

 

Develop Effective Evaluation Criteria

This simple and effective technique can be used by individuals or by groups of decision makers for fast evaluation of innovative ideas.

 

First and foremost, you must develop effective idea evaluation criteria. brainstorming 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 vision, competitive strategies and 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 Process

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.

Make Your Idea Management Process Leaner

Now, you have an easy-to-use and very effective strategic tool for idea evaluation. Communicate it to your people. Everybody in your organization should know what criteria are used for evaluation of innovative ideas. Creative thinkers should also be able to evaluate their ideas themselves before submitting them to decision makers. This will make the idea generation process more focused and increase the quality of ideas submitted to decision makers for evaluation. The whole idea management process will become much leaner.

It will be easier to get gold out of the sand as there will be less sand and more gold in it.

The JAZZ of INNOVATION (Ten3 Mini-course)

 

 

 

Techniques for Fast Idea Evaluation and Decision Making

Idea Evaluation: 42 Perceptual Positions

80/20 Principle

Six Thinking Hats: Analyzing Proposals

Creative Problem Solving

Questions for Creative Business Problem Solving

Brainstorming

How To Run a Brainstorming Session

10 Brainstorming Rules

Fast Company

Making Quick Decisions

Guiding Principles

Idea Management

Creativity Management in Your Business Environment

Letting the Best Ideas Win

 

Smart & Fast Mini-courses

  1. The Jazz of Innovation, Vadim Kotelnikov

  2. Entrepreneurial Leadership, Vadim Kotelnikov

Free Micro-course

10 slides

Techniques for

Fast Evaluation of Ideas