Should we free up people to explore this portfolio?

Yes, release people to explore the portfolio, but make the time protected, cross-functional and tied to rapid tests rather than open-ended ideation. That kind of exploration builds innovation capacity and strategic optionality, gives teams room to challenge data-led assumptions, and turns uncertain future possibilities into clearer investment choices.

Protected exploration creates strategic optionality

Protected exploration gives a portfolio room to generate possibilities before operational priorities close them down. The aim is not to create an endless stream of ideas. It is to give people enough time, attention and budget to explore where the organisation could play next, then make informed choices about what deserves further investment.

Cross-functional collaboration matters because complex opportunities rarely fit neatly inside one team. People with different skills, experiences and views can spot angles that a single function may miss. That only works when psychological safety is present: people need to be able to share an unfinished thought, disagree, learn and be wrong without being shut down. A portfolio becomes more future-ready when exploration is treated as useful work, not a distraction from the day job.

Sources: Imagination: the missing metric in your business strategy, How to turn insights into great creative

Use human judgement to turn uncertainty into testable choices

Exploration earns its place when teams use data, AI and human judgement together, rather than asking technology to predict a novel future on its own. Data can reveal patterns and sharpen insight, while generative AI can help teams develop and express possibilities. Neither can replace the contextual understanding, empathy and imagination needed to question the assumptions behind a strategic portfolio.

Give teams permission to develop ideas before immediately judging them on feasibility. Then move promising possibilities into rapid prototypes, using what is learned to refine, redirect or stop the work. This is intelligent failing: testing assumptions quickly, learning from what does not work and iterating towards what does. It keeps experimentation disciplined, reduces innovation theatre and gives leaders clearer grounds for deciding which opportunities merit greater commitment.

Sources: Investigating imagination: our research proves it drives business success, Imagination: the missing metric in your business strategy, What’s next? The answer is already in the room

We make exploration practical by pairing imagination with rapid learning

We believe people should be freed up to explore a portfolio when the business needs possibilities that past data cannot reveal. Exploration should not be a vague away-day or a pile of untested ideas. It needs diverse thinking, open challenge and a route into action.

We work with clients across industries where imagination often competes with immediate delivery pressures. Our approach brings data, technology, strategy and creativity into the same conversation, then helps turn bold ideas into clearer choices. We have also seen the value of rapid prototyping, where teams test assumptions, learn from failure and improve quickly. That is how exploration becomes a useful source of strategic resilience rather than a side project.

Sources: Imagination: the missing metric in your business strategy, What’s next? The answer is already in the room, How to turn insights into great creative

FAQs

What should protected portfolio exploration time look like?

Protected portfolio exploration time should have a clear purpose, a defined group of contributors and enough space to develop possibilities before feasibility concerns take over. Give the work time, energy, attention and budget, then connect it to scenario planning, prototypes or other practical tests. The goal is not more activity, but clearer learning about which opportunities deserve a next step.

Should AI be used to explore strategic portfolio opportunities?

AI can support strategic portfolio exploration, but it should be treated as an input for analysis and idea development, not a substitute for human judgement. Data and AI work from historical patterns, while people can challenge assumptions, bring empathy and context, and imagine possibilities beyond the familiar. Use AI to widen the working material, then ask a mixed group to interrogate, improve and test the resulting options.

How do we stop portfolio exploration becoming innovation theatre?

Portfolio exploration avoids innovation theatre when ideas move quickly into focused tests that produce learning. Teams should test assumptions, capture what failed or changed, and use the result to refine, redirect or stop the work. Giving people permission to learn from failure is important, but the learning must lead to a decision or a better next experiment.

Who should be involved in exploring a strategic portfolio?

Strategic portfolio exploration should involve people with different skills, experiences and perspectives, especially where the opportunity affects several functions. Cognitive diversity helps teams see blind spots and identify stronger creative angles. The working environment also needs psychological safety, so contributors can challenge, disagree and share early ideas freely.

How do I make portfolio exploration time productive?

Use protected capacity, diverse challenge and rapid learning to turn uncertain possibilities into practical portfolio choices.

  1. Ring-fence the capacity

    Set aside time, attention and budget for portfolio exploration rather than expecting people to fit it around operational delivery. Give the work a clear strategic focus, such as a future scenario, customer need or opportunity area, so exploration has a useful boundary.

  2. Bring in different perspectives

    Build a cross-functional group with a mix of skills and viewpoints, then create space for people to challenge assumptions and develop early ideas. Make psychological safety explicit so contributors can disagree, learn from one another and share ideas before they are fully formed.

  3. Test and learn quickly

    Turn the strongest possibilities into rapid prototypes or focused tests. Use the result to improve, redirect or stop the work, keeping exploration connected to real decisions rather than treating it as an ideas exercise.

Glossary

Psychological safety
A working environment where people can contribute unfinished ideas, disagree, learn and be wrong without being silenced, creating the conditions for useful creative friction.
Intelligent failing
A disciplined practice of testing assumptions quickly, learning from what does not work and iterating towards a stronger answer rather than treating failure as the end of the work.

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