Intelligent Enterprise

Microsoft has launched an innovation process management initiative that looks to help companies build a repository of innovative ideas, find experts, and monitor the progress of bringing the ideas to fruition.

Innovation for many companies is a key source of future competitive advantage, and Microsoft wants to encourage companies to use its products in building a formal process for improving their innovation performance. Therefore, Microsoft's IPM offering is built on Office SharePoint Server 2007 and is a key component of Office Enterprise Project Management software.

Microsoft's approach to IPM is built around what it says is three key aspects of the overall process of innovation management. The first is knowledge capture, which is the ability to gather and share ideas throughout an organization and to collaborate by garnering feedback, gauging interest and forming teams.

Second is process and knowledge management. Microsoft says its software can help "facilitate, investigate, formulate, evaluate, develop and promote an idea from concept to sanctioned project, involving key stakeholders internal and external to an organization." In addition, the products can help manage the life cycle of all digital content related to an innovation project.

Finally, Microsoft says its software can be used for project and portfolio management, which includes evaluating ideas according to a number of specifics, such as available workforce, capital expenditure, project funds and competing investments. In addition, the company's products can be used to establish performance metrics, such as sales, forecasts, inventory and spending; and to track progress against forecast metrics.

Microsoft has launched a site with more information on its IPM initiative.

Companies featured on Intelligent Enterprise that have build their own innovation processes include auto parts maker Johnson Controls. Other vendors focused on innovation management include Brightidea.