A good portfolio should have an innovation category for high-potential, game-changing investments where the risk of failure is moderate to high and the governing body accepts failure as a way to learn and fail forward. …
… “It’s important, he says, to allocate some portion of the budget and IT resources for investments in high-potential projects. ” …
Via ITBusinessEdge: Project Portfolio
Yes, this is absolutely true, and you need to use different metrics to analyze a high risk innovation portfolio from the core operational portfolio. I discuss this in more detail in my book which comes out in November:
http://www.amazon.com/gp/product/0470481951?ie=UTF8&tag=stpp0b-20&linkCode=as2&camp=1789&creative=390957&creativeASIN=0470481951