How do you select and prioritize the most promising CPS ideas for implementation?

As I've written several times before in other articles, I think the CPS must be necessarily attached to the first-principles ability to deconstruct a problem into its most essential pieces (this analogy is often based on analysis at the level of physics laws), of course, depending on the nature of the challenge those "laws" or frameworks could explore other knowledge fields rather than only a physics approach. But the message is to first use that first-principles approach to find the essential bricks of the problem. Once got them, you can start building solutions that will address aspects like the benefits of your solution, cost-effectiveness, or environmental impact, and have a better deal with constraints like budget, time, or resources.

Regarding this topic, I would like to add that you need to think of scalability. In order to produce an even more significant impact with not a necessarily linear effort-increasing approach, but taking advantage of the momentum previously made and having smaller effort deltas (increments) to reach the same expected goal. Just in that way, you will be likely to produce a more efficient correlation of your impact-effort ratio and dream with an even more significant impact without always thinking of impossible resource requirements.

One of the critical aspects of iterating is that those iterations have to be designed to fail fast and set the path for success. Remember the phrase: Failing is nothing more than success on its way. If the team is formed by various levels of management/responsibility within the organization and has a reasonable risk management strategy, they will fail more efficiently towards finding the success path.

Develop Risk Teams. These teams are composed of people at all levels of the organization, departments, and from entry-level to C-Suite levels. These are teams of radical thinkers given permission to fail. There are no sacred cows that can't be slayed in the process of improvement, reducing waste, and developing new and better products, systems, processes, and/or services.