Business development in a growing market and competition is impossible without the deployment of the latest developments and technologies. Innovation is the result of successful project activities of any company. Project results ensure the benefits of project programs and program benefits ensure the achievement of the strategic goals of the organization’s portfolio. To successfully manage the innovation hierarchy in an organization, managers of portfolios, programs, and projects must be trained and equipped with not only professional knowledge, but also a wealth of practical experience. In addition, the most important condition for success is to give innovation managers certain powers and authority in the organization, without which they will not be able to make responsible decisions at each level of the innovation hierarchy.

The success of any business is directly related to innovation. Business development in a growing market and competition is impossible without the introduction of the latest developments and technologies. Project activity is the organization of work to create unique, innovative solutions, methods, technologies, products and services in a limited time. Innovation is the result of successful project activities of any company.

It is necessary to ensure that project activities are oriented towards achieving business goals. This orientation is achieved by combining projects into the organization’s programs and portfolios.

If project activity is a process of creating new, unique results, then operational activity is a routine process of repeating old results.

Examples of project and operational activities are shown in the table:

Project Activity Operating Activity
Construction of a new plant Serial production of products on the built plant
Creation of a new passenger liner Regular passenger service on board
Development and implementation of the Сompany’s CRM system Operation of the Сompany’s CRM system created
The project activity is dedicated to organizing the creation of unique innovative solutions, methods, technologies, products and services. The birth of innovations is the result of project activities and cannot be the result of operating activities based on the use of the same type of repetitive operations with replicated results.

Read more: https://blog.simpliv.com/pavlov-management-of-innovative-projects/

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