Risks of Development and Implementation of Innovative Projects

Abstract

Project-based approach is one of the most widespread approaches to promotion of innovations. Risk management in innovative projects is one of the most difficult tasks in project management due to high degree of uncertainty which is intrinsic to innovative projects. Depending on the phase of innovation's life cycle, the parameters of innovative projects' risk management change, which, in turn, results in the need to use various methodic tools. The key risks on the phase of development and implementation of an innovative project include the risk of non-realizability of an innovative idea and the group of risks related to failure to achieve the basic project parameters including the timing risk, project budget deficit risk and the risk of failure to achieve the innovation's targets. Targets include improvement in risk management on the phases of development and innovations in case of the project-based approach through development and adaptation of existing and elaboration of new approaches and methods of risks identification, assessment and mitigation. This article solved the following issues, which contribute to achievement of the above goal: -identification of key risks of innovative projects, which are intrinsic to the phases of project development and implementation; -adaptation, enhancement and development of methodical tools for assessment and analysis of the key risks of innovative projects; -elaboration of enforcement actions focusing on the key risks of innovative projects on the basis of data obtained in the course

Balanced system of indicators for the assessment of innovative construction projects efficiency

“…Modern scientists supplement the system of the balanced indicators, expanding the projections and including additional indicators, and thus, altering BSI, offered by Kaplan and Norton. The analysis of works of researchers in the field allows to conclude that often even more often the innovative component is pointed out in the balanced system of indicators as the separate aspect [4,5].…”

Risk management of innovative projects using FMEA; a case study

“… Risk system and risk assessment approach for innovative projects are directly dependent on the area of innovation (Batkovskiy et al, 2015).…”

“… Due to the dynamic nature of the risk, the structure of the risk and its impact on the projects fundamental parameters changes concerning time (Batkovskiy et al, 2015).…”

Sustainable development of Industry 4.0: the case of high-tech products system design

“…(Bessant et al, 2015). These restrictions significantly complicate the comprehensive assessment of the possibility of implementing projects to create high-tech products within a given time, especially in risk, in relation to Russian enterprises as well (Batkovskiy et al, 2015). Thus, the toolkit and the design models for high-tech products have not been adequately considered from a system perspective.…”