ALTIN KADAREJA
Altin Kadareja, MSc, passionate about innovation management has experimented several risk management techniques in innovation projects in Italian banks. Holds a Master of Science degree in Economics and Management of Innovation and Technology from Bocconi University, Milan. Former organizational change consultant focusing on business process re-engineering. An amateur entrepreneur, already founded a start-up and an economic think tank.
From incremental to breakthrough innovation projects, managers need to handle different activities and with them dissimilar venues of risks. In this article the internal, external and hidden risks of incremental, differential, radical, and breakthrough innovation projects are identified and ranked accordingly. In addition, for every category a general innovation eco-system has been analyzed.
As the economy is dynamically changing and innovation becomes crucially important, a look into the management practices and risks that such projects face should always be welcome. In part two of this series of articles focused on identifying risks on innovation projects, the attention will be directed towards the identification of the internal and hidden risks of innovation projects.
The fact that innovation is a risky business is well-known. But what are those risks? After the identification and the assessment of the internal and hidden risks of innovation projects Altin Kadareja now delves deeper into an exploration of the external risks of innovation projects, those risks that the company can/does not fully control, mostly related to factors external to the company, meaning coming mainly from its environment.
Every innovation project starts from an idea or a problem and mostly, all innovation teams do jump immediately to the feasibility study and scenario analysis dedicating little or no time to the assessment of the risks of innovation projects. This series of article represents an extended dashboard of internal, external and hidden risks of such projects in aiding innovation teams throughout their risk management activities. The first article looks deeper into what drives a successful innovation eco-system.
