Idea Selection Factors

A handy tool to assess an innovation’s opportunity and feasibility with a focus on sustainability in terms of social, economic, and environmental goals. It has a list of factors to evaluate an idea and an example for a score-card application.

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What is this tool for?

In the realm of sustainability-driven innovation, where traditional project assessment metrics often fall short, the evaluation dimensions of Opportunity and Feasibility become crucial. These terms extend beyond financial measures, embracing a holistic approach that is aligned with the fundamental goals of sustainability.

The Idea Factors will support you to build a sustainability-driven innovation scoring tool for your business ideas.

How to use this tool
Step 1

Select a well-balanced array of selection factors for both Opportunity and Feasibility. We recommend a target of 8 factors, in a range of 3 to 5 factors for each dimension, to strike a balance between detail and manageability.

Step 2

Use the factors to have an open discussion with your team on the status of your project. You can use it to compare ideas in a portfolio context or use it thought time to continuously track progress. 

Step 3

If you want to build a scorecard, determine the scaling statements and weightings given to each statement. The highest scores should be closer to the best-case scenario or the objective goals of the project.

Step 4

If you want to build a scorecard, you can do it using the weightings in, for example, using Excel or Numbers.

Tip

Select carefully which are most relevant factors, you don’t want to kill a project just because you assessed it using the wrong criteria. When comparing projects, be sure to group them into theme areas (i.e. innovation buckets). We want to avoid comparing apples to pears! 

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