INNOVATION PROJECT MACHINE IN A SYSTEMS APPROACH TO ENGINEERING MANAGEMENT

In recent years, the project approach has become an increasingly popular tool for achieving operational and strategic goals and to generally advance the business activity of organizations in fields such as innovation management. We demonstrate the need of including the project approach in the processes of creating innovative solutions. We posit that these two work methods can be combined into a coherent approach known as the innovation project machine. As part of this approach, innovations are implemented and developed more effectively, while agile project management and consolidated research for project managers, amongst others, are the source of inspiration. A systems approach to this concept could constitute a coherent synthesis of solutions available for engineering management. A proposition to integrate the project approach with innovative processes will enable expedient execution of business strategies in contemporary companies.