Final answer:
The correct answer is option c. Strict timelines keep budgets in check and make it possible to get products out on time.
Step-by-step explanation:
When managing the pace of radical innovation, it is crucial to understand that this process differs significantly from more incremental innovation or routine project management. First, the timeline of radical innovation can be very long, sometimes stretching over a period of 10 years or more, especially in industries such as pharmaceuticals where research and development (R&D) are intensely resource-intensive and regulated.
During this timeline, there are often long periods of exploration where the innovation process is characterized by high levels of uncertainty, experimentation, and potential for failure. This environment can make strict timelines unrealistic because innovative projects often require open-ended experimentation which can lead to time-consuming mistakes that need to be corrected before moving forward.
While strict timelines can help keep budgets in check and aim to ensure products are released on time, they may not be suitable in the context of radical innovation where flexibility and adaptability are crucial. Therefore, innovation management may necessitate a balance between scheduled milestones and the flexibility to explore new ideas and solutions, even if it means adjusting the initial project scope or timeline.