The systems being designed and built today are often complex and disparate, making it difficult to evaluate the profitability of large initiatives (e.g. projects). Businesses need predictability as well as agility, to ensure value delivery, profitability and growth. Unfortunately, the traditional financial indicators used to estimate risk and productivity for today’s modern systems (e.g. NPV, IRR, MIRR, etc.) are insufficient to measure returns and risk of large and complex systems in environments that are high in uncertainty. To address uncertainty and increase speed to market, a different kind of accounting framework is needed to quickly validate product assumptions and increase learning.
By attending this workshop you will learn how Innovation Accounting can increase business agility by reducing waste and leveraging fast-feedback to improve economic outcomes for large initiatives. Using the workshop format you will use hands-on exercises to learn and apply leading indicators (vs. vanity metrics or traditional KPIs) to decide when to pivot and when to persevere, how to reduce sunk costs, and increase value delivery. Innovation Accounting is a term coined by Eric Ries in his book The Lean Startup.
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