Innovation management is crucial for the success of new ideas, which is why these management techniques grow more and more important. Along with this trend, the scientific research of innovation processes increased as well, resulting in a variety of theoretical models. Because theory and practice are often considered separate disciplines, this thesis aims on reviewing, how important the theoretical concepts of innovation management in the actual development process are. This analysis is achieved through comparing theoretical models to the actual development process of Aware3D. This smart-parking system, developed by Siemens, was chosen for its increasing social importance and innovative technology. By looking at the progress of Aware3D in detail, many similarities between theoretic and practical approach on innovation management are visible. Especially the influence of future developments on the development and status of innovations is a significant aspect of this analysis and will therefore be analyzed separately.