In increasing proportions, innovation portfolios comprise digital innovations initiatives rather than product innovations, yet resources to invest in digital innovation initiatives are limited and organizations struggle to maximize value from these investments. Innovation portfolio management is a valuable tool for managing the portfolio and supporting realization of value from it, and innovation portfolio management research has a long history; however digital innovation initiatives differ from traditional product innovations and portfolios of these. There is a recognized need for a portfolio management process that speaks directly to the nature of digital innovations and transformation. Reporting on a study employing bibliometric research and a review of published literature, the paper presents the current state of research into portfolio management for digital innovations initiatives. It highlights a disconnection between innovation portfolio management research and studies of digital innovations and transformation. The article describes four themes of existing research and offers conclusions on future areas for research. New research is recommended for addressing digitalization-specific innovation portfolio management, realization of value from digital innovation portfolios and, organizational and executive management requirements for those portfolios’ management.
Salonen, Jukka, "Portfolio Management of Digital Innovation Initiatives – A Systematic Literature Review" (2023). Selected Papers of the IRIS, Issue Nr 14 (2023). 12.