Towards a Theory of Idea Evaluation

As the world increasingly depends on the creation of new and novel ideas, the ability to manage them become paramount,. Ideation is a process that enables organizations to create, value and manage a portfolio of ideas. It can be divided into three areas: 1) Idea representation, aka Ontologies, 2)Idea evaluation and portfolio management, and 3)Idea process management. The objectives of this research are to: 1. Identify and analyze current short comings in the innovation processes, 2. Develop an ontology for ideas and the innovation process, 3. Develop a model to measure the value of ideas and their impact, 4. Develop the methods and models to enhance, accelerate and increase the quality of the innovation process, 5. Optimize a portfolio of Ideas to quickly identify ideas to pursue, and 6. Create a prototype software package that embodies the results.

Faculty Supervisor:

Dr. Mark Fox

Student:

Andrew Nathaniel Forde

Partner:

Hospital for Sick Children

Discipline:

Engineering - other

Sector:

Consumer goods

University:

University of Toronto