Towards estimating the value of an idea

  • Authors:
  • Carlos Fernández;Daniel López;Agustín Yagüe;Juan Garbajosa

  • Affiliations:
  • Technical University of Madrid (UPM), Madrid, Spain;Technical University of Madrid (UPM), Madrid, Spain;Technical University of Madrid (UPM), Madrid, Spain;Technical University of Madrid (UPM), Madrid, Spain

  • Venue:
  • Proceedings of the 12th International Conference on Product Focused Software Development and Process Improvement
  • Year:
  • 2011

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Abstract

Today software industry lives in a very competitive environment and firms need to improve constantly. One way to achieve this goal can be the introduction of innovative ideas into the products, processes or services of the firms, allowing thus to increase the value delivered to the customer. Various sources of innovation are already identified in literature to obtain new ideas. It is hard to identify the most effective idea sources. Moreover, to introduce new ideas without a defined goal could turn out lots of waste for the company. In this research work it is pointed out why the estimation of the value of an idea is difficult, more when the item to evaluate is a new unimplemented idea. As a solution to this a framework that facilitates and supports the idea value estimation is proposed. Based on a the available literature, the authors outline a framework for innovation that will facilitate organizations to identify new ideas and to estimate their potential value. This framework will facilitate the introduction of innovation in software intensive systems industry.