March 24, 2014

Ingersoll Rand and Industrial Research Institute Collaborate in Development of Sustainability Measurement Tool

In the rapidly evolving sustainable innovation space, Ingersoll Rand recently partnered with the Industrial Research Institute (IRI) and other member companies to develop and publish a Maturity Model for Sustainability in New Product Development. In addition to the maturity model, a new assessment tool allows companies to benchmark progress toward sustainability goals while driving new product development growth and contributing to the triple bottom line of people, planet and profits.

 “Sustainability will become as ubiquitous as safety, quality and reliability over the next few years,” said Jeff Hynds, director of innovation, Ingersoll Rand and a co-chair on the sustainability maturity model development project. “Companies continue to rapidly develop sustainability strategies and integrate them into innovation and R&D groups; our tool helps leaders throughout an organization better understand the areas where teams are excelling and where there is opportunity for growth.”

Using the IRI Sustainability Maturity Model
Existing frameworks for measurement of sustainability were too broadly focused and either did not provide enough guidance for new product development teams or were not widely available. The new IRI tool is available online and helps team leaders assess behaviors and actions that ultimately lead to excellence in sustainability.

“With the development of this tool, we want companies to further understand how the culture of their organization and the behaviors of employees drive a successful and measureable sustainability program,” said Hynds. “Many organizations still tend to think about sustainability in philanthropic terms, but it’s also a lever that companies can pull to drive growth, reduce costs and minimize risks.”

Ingersoll Rand and IRI
Ingersoll Rand has been a member of IRI, a collection of 200-plus companies, since 1985. The group primarily focuses on furthering innovation and R&D management through conducting and presenting research on trends and new technologies that advance the overall knowledge base for those topics. In recent years, sustainability and how it is applied to innovation processes has grown as an area of particular interest.

For more information, visit IRI’s website to view and download the maturity model: http://www.iriweb.org/Public_Site/Navigation/Library/Public_Documents/Tools/Sustainability_Maturity_Model.aspx

Assessment Tool:
http://www.iriweb.org/Public_Site/Navigation/Library/Public_Documents/Tools/Sustainability_Maturity_Assessment_Tool.aspx

To learn more about IRI membership visit www.iriweb.org

 

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