Measuring innovation project performance - a holistic study of current practices and implications in Swedish large-sized companies
Year: 2021
Type: dissertation
Abstract: The field of innovation has gained increased attention in later years. As an enhancement for\ngrowth, innovation is of high importance for companies to pursue in order to stay competitive.\nPrior research has highlighted the need for measuring and evaluating the performance of\ninnovation efforts, but it has proven to be a challenge for many companies to manage. In\naddition, little research has been conducted on a project level, although innovation projects\nhave a significant impact on the overall innovation performance. In this matter, large-sized\ncompanies are of particular interest due to their structured innovation processes. Therefore, the\npurpose of this study is to explore how innovation project performance can be measured from\nthe perspective of large-sized companies. This is done by identifying current practices as well\nas potential challenges to discover how measurement of innovation project performance can be\nmanaged.\nThe study is conducted qualitatively on a sample of twelve Swedish large-sized companies,\nwith empirical findings collected through semi-structured interviews with innovation managers\nand experts within the field of innovation. In addition, a narrative literature review is conducted\ncombining the fields of innovation management, performance measurement and project\nmanagement, which provides the foundation for secondary data. The literature review and the\nempirical findings are analyzed using thematic analysis to answer the proposed research\nquestions.\nThe findings of the study suggest various current practices of measurement, where five\ncategories of metrics are identified, each with both benefits and drawbacks. Several challenges,\nas well as factors such as strategy and top management demand, are suggested to impact how\nmeasurement can be done on a project level. Finally, the study concludes that there is no best\nway to measure the performance of all innovation projects, as exemplified by a variety of\npractices identified. Instead, measurement can be carried out in numerous ways, and for\npractitioners the importance lies in finding purposeful metrics that are suitable for each project.\nHere, the findings of the study can help navigate throughout the journey of selecting the right\nmetrics.
Authors: Emma Martinsson, Madeleine Hammarstrand
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3195734460