Internal and Hidden Risks of Innovation Projects

Good read.  Innovation Management continues its series on innovation and risk management of innovation.

Excerpt:  Following these macro venues of innovation project’s risks and the list of possible risks outlined by the Executive Innovation survey (Andrew et al., BCG, 2009), two separated risk clusters have been created: external and internal risks to the innovation project. External risks refer to the risks that the company can/does not fully control. They are related to factors external to the company, meaning coming mainly from its environment (Raftery, 1994). On the other hand, the internal risks represent the risks arising in innovation project’s activities within the project/company (Raftery, 1994).

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