A nanoproject is an exercise in shortcutting the often-slow process of uncovering and understanding the risks inherent in a partner, product, and/or service.
Nanoprojects seek to take the shortest path from an idea to the learnings generated through pilots and trials. Having these lessons in hand earlier and faster means the organization is exposed to less risk when introducing new products or services. In particular, nanoprojects seek to lower:
Project Risk. Miscalculations around timing & scope, and how they affect budget and program deadlines.
Partner Risk. The extent to which new products and services often include new partners and institutional configurations, issues of bandwidth, ability to communicate clearly and honestly, focus, technical capacity, and chemistry across and within organizations are each examples of risks relating to a new or existing partner.
Product/Market Risk. Any issues related to product/market fit: the products’ targets, their problem(s), our solution(s), the channel(s) through which the solutions will be delivered, the utility or effectiveness of the solution in the real world, and the associated pricing.
Technical Risk. Whether tools are readily available and/or can be built to accomplish the task in the time allotted. Also includes feasibility of new integrations, conversion of existing records to digital data, and the networks and other hardware available to the partners and the product’s targets.
Learn more here