Better Ways to Green-Light New Projects
Relying on expert panels to judge which innovation projects should get the go-ahead for funding produces mixed results. The authors’ study of how R&D projects are green-lighted reveals multiple flaws in the process that can result in biased and poor decisions. The article details potential problems and suggests alternative ways that companies can review and decide on new projects. These newer approaches are aimed at mitigating bias and often involve engaging a wider variety of perspectives.