Year: 2023 | Month: December | Volume 68 | Issue 4

Innovative Risk Management: Identification, Assessment and Management of Risks in the Context of Innovative Project Management

Alina Pomaza-Ponomarenko Svitlana Kryvova Anatoly Hordieiev Andriy Hanzyuk and Oleksii Halunko
DOI:10.46852/0424-2513.4.2023.34

Abstract:

The article aims to solve the critical problem of risk management in the context of innovative projects,
which affects the competitiveness and sustainability of organizations in the modern business environment.
The purpose of the article is to highlight and develop an innovative approach to risk management in
innovative projects to improve their success. The article examines the theoretical foundations of risk
management in the context of innovative projects, including concepts, principles, and methods of risk
management. The article identifies and analyzes the key risks that arise in the process of implementing
innovative projects, including technological, financial, market and organizational risks. The article
proposes the development of risk assessment methods and tools in the context of innovative projects,
which may include the use of analytical methods, models, and approaches to assess the probability of risk
occurrence and their potential impact on projects. The article offers effective methods of risk management
in innovative projects the development of proactive measures to prevent risks, the determination of
control points, the implementation of backup plans, and the development of a risk monitoring and control
system. The article provides practical recommendations and examples of implementing innovative risk
management in the real field of innovative project management. The authors examine various aspects
of risk management and offer practical recommendations for managing them effectively. The results of
the study will contribute to the improvement of risk management practices in organizations engaged in
innovative activities and contribute to ensuring sustainable development and competitiveness.

Highlights

  • The article underscores the critical importance of an innovative approach to risk management in the context of innovative projects, emphasizing the need for clear definitions, assessment, and effective strategies to mitigate risks that may otherwise lead to instability and project failure.




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