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Your idea sounds good, but is it feasible?

wordleA TOOL TO ASSESS AND COMPARE THE FEASIBILITY OF INNOVATIVE IDEAS

The feasibility of an innovative idea depends on many different factors. Assessing whether an idea has a chance of success is therefore often a difficult task. Comparing different ideas with each other is therefore very challenging, since each idea has its strengths and weaknesses. In addition, the importance of certain factors is assessed differently by different actors. 

MULTI-CRITERIA ANALYSIS & STAKEHOLDER INTERVIEWS

On the basis of literature on business model innovation and open innovation, and discussions with innovation managers, criteria were drawn up on which ideas can be scored. Based on the principles of Multi-Criteria Analysis (MCA), these criteria were put into a tool that can help assess the feasibility of innovative ideas. The tool was used in the GeNeSys project and was further refined on the basis of these insights.

INNOVATION FEASIBILITY TOOL

With the decision support tool, different ideas can be compared with each other. The user has the choice between a quick analysis and a very detailed comparison. The tool consists of seven main criteria, divided into different sub-criteria. These can be scored. Depending on the value that the user attaches to the particular criterion, the user can then assign a high or low weighting. The tool displays the strengths and weaknesses of an idea at a glance using colour codes, and calculates a total feasibility score for each idea.

More information: jonas.vanlancker@ilvo.vlaanderen.be
www.ilvogenesys.be

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