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Innovation is considered crucial for enterprises survival and current economic environment demands the best ways of achieving it. However, the development of complex products and services require the utilization of diverse know-how and technology, which enterprises may not hold. An effective strategy for achieving them is to rely in open innovation. Still, open innovation projects may fail for many causes, e.g. due to the dynamics of collaboration between partners. To effectively benefit from open innovation, it is recommended the utilization of adequate risk models. For achieving such models, a preliminary conceptualization of open innovation and risk is necessary, which includes modeling experiments with existing risk models, such as the FMEA,

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Collaborative networks are typically assumed to bring clear benefits and competitive advantage to the participating members. On the other hand, since the networks are typically formed by heterogeneous and autonomous enterprises, it is natural that each member has its own culture and set of interest. As result, the development of methodologies to facilitate the management process during the operation phase of a virtual enterprise (VE) is an important element for the wide adoption of this paradigm. Departing from a brief presentation of the Theory of Constraints this paper introduces an approach of these concepts to collaborative networks and discusses its potential application in the context of a (VE). To conclude, experimental results based on data from a collaborative network are presented and discussed.