INNOVATION MANAGEMENT

Assessment Task-2 Project work

Section 1: Review programs, systems and processes

Task One

Company Overview

1. Establish the strategies the organisation will adopt to monitor and evaluate performance and sustainability of key systems and processes.

Discuss below three approaches/strategies:

· Deciding on the approach to monitor and evaluate, such as:

· Total quality management (TQM)

· Lean management

· ISO 9000 (quality management systems standards) o Key systems analysis o Process analysis

· Arranging for input from stakeholders

· Researching industry requirements

2. Undertake detailed analysis of supply chains, and operational, product and service delivery systems.

· Analysis of supply chain:

· Operation system:

· Service delivery system:

(Hint from teacher - Below points should be explained while explaining above question no. 2)

· Identifying and evaluating the processes in a supply chain

· Consulting with other staff to gather information from people who deal with suppliers and customers

· Identifying activities that comprise an organisation’s value chain as primary and secondary (support) activities

· Highlighting areas of inefficiency

· Identifying and prioritising areas for improvement

· Mapping the current supply chain, and analysing the mapping the product flow from production to customer delivery

· Identifying opportunities for strategic partnership with suppliers

· Improving efficiency and cutting costs

· Identifying suppliers and environmental factors that affect supply

3. Conduct a performance analysis of the organisation

A. Identify key result areas and performance measures, and evaluate the effectiveness of tools used to measure performance.

(Hint from teacher - Below points need to be explained while answering the above question A)

· Considering factors that affect the current state and predictions for the future state of the organisation

· Using a variety of sources of information, such as SMEs ● Determining performance measures, such as:

· input measures – how effectively resources are being used to achieve outcomes

· outcome measures that compare intended or projected results to actual results

· output measures that review the quantity or quality of the products or services delivered

· efficiency measures, such as productivity or cost-effectiveness o quality measures used to determine effectiveness in meeting customer expectations related to product reliability, service responsiveness or measuring error rates

· Sourcing performance data, such as reports, graphs, reporting tools, benchmarking measures, surveys, discussions, audits and observations

· Using analysis tools such as brainstorming, mind mapping, cause and affect charts, flowcharting, and control and run charts

· Evaluating measuring tools, such as determining whether:

· measures enable projections or anticipated results of data is readily available, reliable and up to date

· measures allow for timely analysis to enable decision-making o measures are easy to calculate o tools and techniques are user-friendly

· tools and techniques identify issues or improvement opportunities o there is a balance of financial and non-financial measures

B. Analyse performance reports and business plans. As part of your analysis, identify variance from expected results and potential causes of any variance.

(Hint from teacher - Below points need to be explained while answering the above question B)

· Identifying performance reports related to finance, marketing, sales and customer service, quality, production, logistics, human resources, and health and safety

· Using data collected from resource usage, expenses, outputs and outcomes

· Determining reasons for variances, such as increases in sales leading to a favourable variance

· Identifying corrective actions, such as revising objectives and measures to ensure they are appropriate

C. Identify and analyse changing trends and opportunities relevant to the organisation, conducting a PEST analysis, a SWOT analysis and a competitor analysis.

· Conducting a PEST analysis to review external environmental conditions that apply to the organisation (Use Template)

PEST Analysis

Political	Economical
Social	Technological

· Conducting a SWOT analysis describing the strengths, weaknesses, opportunities and threats of the existing approach to innovation and continuous improvement (Use Template)

SWOT Analysis

Strengths	Weaknesses
Opportunities	Threats

· competitor analyse

· Technology and electronic commerce opportunities

Section 2: Facilitate and communicate about continuous improvement

Task two

a. Communication Plan including handouts or notes

Objective:
Relevant stakeholders
Required resources
Method
Schedule/ delivery date
Relevant policies/ procedures
Security/ confidentiality status
Strategy for all team members to provide feedback
Outcomes/ follow-up actions
Documentation

b. Undertake a risk management and cost–benefit analysis for each option or idea selected for trial.

Risk Management Plan

Background:

Context:

Level of access and restrictions:

Reporting requirements:

Risk Matrix

Level of likelihood	Level of Impact
	1 (Significant)	2 (Minor)	3(Moderate)	4 (Major)	5 (Catastrophic)
A (Expected)	Medium	Medium	High	Extreme	Extreme
B (Probable)	Medium	Medium	Medium	High	Extreme
C (Possible)	Low	Medium	Medium	High	High
D(Improbable)	Low	Low	Medium	Medium	High
E (Rare)	Low	Low	Low	Medium	Medium

Risk Action Plan

Risk Description	Priority	Proposed Controls	Actions required to implement controls	Resource requirements	Costs ($)	Responsibilities	Schedule

Record keeping procedures:

Updates	Person Responsible	Date
Risk register
Lessons learned register

c. Undertake Cost Benefit Analysis

Elements	Cost ($)	Benefits

d. Obtain approval from appropriate personnel for the selected innovations through agreed organisational processes.

· Completing an authorised approval request form

Section 3: Implement innovative processes

Task Three

Prepare a plan for implementing continuous improvement and/or innovation:

a. Address the impact of change and consequences for all affected people.

(Hint from teacher - Below points need to be explained while answering the above question a)

· Understanding and reducing the barriers to change

· Promoting enablers of change, such enabling team leaders to be change agents

· Addressing the need for training and development in change management for staff to improve performance through workshops, accredited training or mentoring

· Listing the expected changes, the implementation will bring, and the impact on people and resources

· Arranging activities to support change, such as:

a. team building

b. inter-group development in changing attitudes and perceptions o process consultation to adjust to new processes being introduced o survey feedback that allows employees to provide input o sensitivity training to change behaviours o job redesign to fit new structures or technology o career and succession planning for employees

c. implementing health promotion programs to prevent stress and anxiety, including staff counselling if necessary

b. Implement a change transition plan.

(Hint from teacher - Below points need to be explained while answering the above question b)

· Deciding on an appropriate approach according to the organisation’s policies, procedures and practices, and the size and nature of the innovation or improvement project

· Identifying the likely effect of change and determining change readiness and associated risks, including contingency plans

· Determining transition activities

· Determining resource requirements

· Allocating roles and responsibilities

· Determining communication requirements (showing what is being to communicated, who is being communicated to, and the method and frequency of communication)

· Identifying methods for monitoring and evaluating the transition schedule

c. Ensure the objectives, time frames, measures and communication plans are in place to manage implementation

· Using a project planning approach, such as a project management body of knowledge (PMBOK)

· Defining the process of implementing the project in an implementation plan that includes:

Project Objectives	Activities	Required Resources	Time frame

Task Four

Follow up any failures or non-performance:

a. Implement contingency plans, such as using an alternative supplier for raw materials.

b. Investigate and analyse the causes, and manage emerging challenges and opportunities effectively. You will be observed speaking with staff involved to evaluate the options and determine solutions.

(Hint from teacher - Below points need to be explained while answering the above question)

· Providing coaching in one-on-one sessions to help build a skill or improve performance in certain areas

· Identifying barriers, understanding needs, and selecting methods and strategies most likely to work with the employee

· Identifying the variances between the plan and the actual performance, such as by conducting a root cause analysis

· Identifying and addressing an external pressure, such as an unreliable supplier

· Applying problem-solving processes to overcome challenges

Task Five

Write a report with recommendations for incorporating new or revised processes into the

organisation’s knowledge management systems. This is to ensure that lessons learnt from past activities are captured and managed to inform future work.

(Hint from teacher - Below points need to be explained while answering the above question B)

(1) Incorporating new or revised processes into the organisation’s knowledge management systems and future planning

(2) Reviewing processes and reflecting on successes and failures

(3) Listing what worked well in terms of project management, change management and continuous improvement methods

Task Six

Present how you would regularly evaluate continuous improvement systems and processes, and document your findings in a report.

(Hint from teacher - Below points need to be explained while answering the above question)

· reviewing and analysing systems and processes

· identifying opportunities

· outlining the implementation of ideas

· providing recommendations for improvements.

NOTE: USE TEMPLATES GIVEN IN CASE STUDY