Recommended read for all leadership and management. The world is into “innovation” — need to, should, tried, will try, trying, etc. — but within all the possible stages of innovation, has the risk management of innovation been addressed? In most companies, the answer would be no. Read how-to address both innovation and risk management for best practices projects.
Excerpt: Risk assessment and risk management activities are seldom used in innovation project proceedings. Only 30% of the managers surveyed for this study¹ use risk assessment procedures and the rest are either not doing it or do not know how to assess and then manage such risks. Apparently, the need is not for a more risk averse company but for more analysis and measurement practices before and after an innovation project starts in increasing the success rate of innovation projects. In this series of articles, I want to deliver an overview of risks associated with the innovation projects and a relative distinction of internal, external and hidden risks starting with some key determinants of a flourishing innovation organizational attitude that managers need to harness to their innovation activities.
Read full article via New Series of Articles on the Risks Faced by Innovation Projects | Innovation Management.