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Strategic Innovation Management: A Framework for Digital Product Portfolio Optimization

Karthik Hosavaranchi Puttaraju
Student, MBA

Georgia Institute of Technology

khosavaranchi@gmail.com

Abstract—This research introduces a framework for managing digital product portfolios in rapidly evolving markets. By examining the intersection of strategic management and digital innovation, we present a structured approach to portfolio optimization that enhances value creation while minimizing technology risk. The study draws on real-world implementations across multiple industries, demonstrating how organizations can effectively balance innovation initiatives with resource constraints. Our findings reveal that organizations implementing this framework achieved a 40% improvement in portfolio performance and significantly reduced technology risk. The paper provides practical guidelines for executives and product leaders to evaluate, prioritize, and optimize digital product portfolios while maintaining strategic alignment with enterprise objectives.

Keywords— Digital Product Portfolio, Strategic Innovation Management, Portfolio Optimization, Technology Risk Management, Digital Transformation, Innovation Strategy, Resource Allocation, Product Lifecycle Management, Multigeneration product planning

DOI: 10.55041/ISJEM0018