Innovation Agreement Definition

Continuous improvement and innovation are a way of thinking that can only thrive in a well-managed relationship. Governance excellence is essential – and we find that clients who focus on structure and process in their relationships can not only realize the benefits of continuous improvement and innovation, but also bring other benefits: frictions between the two teams are greatly reduced, problems are resolved in an orderly manner, and the management chain knows exactly what is happening in the service relationship. ISG has developed a tool that allows clients to consider continuous improvement of their own governance and management skills – our sm-G Maturity Assessment. This tool can be used to create management functions for common services and purchased from a client organization, and can be repeated regularly over time to measure the continuous improvement of this essential function. A well-managed relationship is a happy, productive and innovative relationship. One idea is not enough for the innovation process; There are technical feasibility studies, a review of contracts to ensure that the idea is really new and is not already envisaged in the agreement, and the case of financial activity to support investments or validate interest. The innovation team will turn to members of the customer`s service management and governance team for support – Contract Manager, Finance Manager and Service Delivery Manager and often business interests. Retained functions, such as architectural and security teams, may also be involved on both sides of the relationship. This innovation process creates buy-ins in both organizations, which must represent the value of the idea to their respective management teams, which greatly increases the likelihood of the idea being implemented. Innovation should continue to play a crucial role throughout the life of a project, from the first discussions to the end.

However, how can we ensure a healthy attitude towards innovation throughout the contract? We have started to address a very complex subject through a new consortium of Costain, the international law firm Pinsent Masons and the University of Cambridge, with funds from the UK innovation agency Innovate UK. Participants in this research project are committed to identifying these barriers to innovation and developing practical measures to overcome them.