Working on innovative projects also means that business models, ideas and prototypes are reconsidered iteratively. Sometimes they even have to be dropped consciously to open the room for new ideas and lift projects to the next branch on the tree of innovation. I appreciate the quote of Woody Allan who said: “If you’re not failing every now and again, it’s a sign you’re not doing anything very innovative.” From this point of view, failing can be seen as a considerable and awareness part of a project rather than a reversal. Nevertheless, it´s quite smart to fail in an early state of a project. Project management methods like „scrum“ already opened the scope for iterative product development.
Beside evolution in project management new methods and tools for creating business models have been developed. In a different way from established lines of action and best practices, recent approaches like the „Business Model Generation Canvas“ of Alexander Osterwalder primary focus on co-creational work to face with the demands and challenges of forward-looking product and service development from different angles.
To give a résumé: Complex projects call for agility, dynamic adaptiveness and co-creation, providing the space for iterative team play to get the best result out of unpredictable process developments in due consideration of costs, functionality and quality.
By taking part in the Advanced Project Management program, I am excited about bringing a new dimension to my appointment as well as my talented project team.
Beside the theoretical and practical part, I´m looking forward to collaborate and exchange experience with my peers on Stanford campus.