Fundamentals of Innovation

To write a book about the Management of innovative projects is a challenge, because innovation goes beyond the usual, normal things, is not a standard behaviour and is difficult to propose techniques and methods to manage the creativity, but, in the same time, represents a very good initiative - to provide a specific guide for a project manager. At the moment, innovation is part of our everyday life and all the projects have innovative elements; these are the "details that make the difference" between a common, mediocre project and a good and efficient one. The management of the innovative projects needs a basic theoretical frame in which to find explanations of all fundamentals concepts. The chapter will present the main fundamentals concepts and prepare the reader for more complex approaches in the field of project management. The chapter will be structured as follows: definitions of innovation; explanation of the differences between innovation and invention; the typology of innovations; factors that influence and drive to innovation; a detailed comment about the models of innovation (five generations of innovation identified by prof. Roy Rothwell); introduction of the concepts of "open innovation" and "closed innovation", the effects of open innovation on economic growth, business and development.