An Approach for Developing Concept of Innovation Readiness Levels

Innovation maturity has gathered great importance in recent years. Innovation has become a majordriving force for business growth and success. However, many challenges still remain in both theory andpractice, which demand improved managerial approach. This research focuses on developing the conceptof innovation readiness levels, an explicit model for managing the process of incremental innovation andto provide contractors and construction business to improve an innovation program. The researchreported here set out to examine how technological, market and other aspects of innovation readiness canbe depicted over the lifecycle and to provide the Innovation Readiness Levels (IRL) framework. Practicalissues and challenges were discussed with all companies.