Traditional project management processes are not effective for innovation projects. Instead, the L.I.V.E. method allows for faster, cheaper and less risky delivery of complex innovation projects by validating progress through a set of 10 questions.
Open innovation involves corporations and organizations sourcing ideas from external and internal sources. It can be classified into four levels of inclusion and is beneficial for maintaining relevancy and surviving in the market.
Culture is the key to successful innovation, not a single method or formula.