An original proposal for the formulation of innovation projects is presented based on a process approach. The method consists on identifying the key components from the innovative idea and the corresponding processes. On each process it is determined the inputs, the change operators or main activities and the outputs or products. The strategy of the project is formulated from the relationships existing among the strategic processes. The proposal is backed up by a set of tables that contribute to develop the main components of the project. It is shown that the proposed methodology is consistent and easy to apply. © JOTMI Research Group.