IDEATE EXPERIMENT MONETIZE 1–4 weeks Element Sprint Value Tests 1 1 1.X (1–5 days each) N2 1–4 weeks Proven/ 3 alue and Idea Element Sprint Value Tests Disproven Revised 3.N 4 6 V Elements 2 2.X (1–5 days each) Hypotheses Hypotheses 5 nitial wth Hypotheses 1–4 weeks I o Element Sprint Value Tests Gr N N.X (1–5 days each) Client’s Innovative Idea Portfolio 3.1 3.2 Customer Market Technical Concept Solution Pilots Attractiveness Viability Feasibility Simulation Prototyping Experimentation Planning Rapid Experimentation Techniques and Tools Figure 5: Rapid Iterative Experimentation Process CEO and business unit heads) the information they need to more confidently make decisions to pivot, halt, or continue with ideas in the portfolio. Large companies practicing RIEP often start with a centralized group—some call it an innovation lab or design studio or agile studio—to perform the experiments. In smaller firms such as startups, the culture demands an ‘all-hands-on-deck’ approach where likely everyone is involved.