Innovative risk management: Identification, assessment and management of risks in the context of innovative project management Pomaza-Ponomarenko Alina1,*, Kryvova Svitlana2, Hordieiev Anatoly3, Hanzyuk Andriy4, Halunko Oleksii5 1Scientific Department for State Security Problems, Training Research and Production Centre, National University of Civil Defense of Ukraine, Kharkiv, Ukraine 2Department of Dynamics and Strength of Machines and Strength of Materials, Education and Research Institute of Mechanical Engineering, National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine 3Department of Mechanical Engineering Technology, Faculty of Engineering, Transport and Architecture, Khmelnytskyi National University, Khmelnytskyi, Ukraine 4Khmelnitsky Scientific Research Forensic Center, MIA of Ukraine, Khmelnytskyi, Ukraine 5Department of Health Care Management and Public Administration, Shupyk National Healthcare University of Ukraine, Kyiv, Ukraine *Corresponding author: pomaza.ponomarenko@gmail.com (ORCID ID: 0000-0001-5666-9350)
Online published on 15 July, 2024. 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. • The study contributes to project management by presenting a comprehensive framework for innovative risk management, addressing the unique challenges and uncertainties associated with innovation. The framework includes the identification of specific risks, assessment of their impact, and the development of proactive strategies, promoting a systematic and integrated approach to enhance the success of innovative projects. Top Keywords Risks, Management, Innovation, Project management. Top |