Risk identification in product innovation projects: new perspectives and lessons learned

Abstract

The paper addresses the improvement of innovation project (IP) risk identification by applying the RBS (Risk Breakdown Structure) method, and represents a follow-up analysis of the subject (a case of IP before and after applying the method). The activities of risk identification are an initial phase in most of risk management processes and classifications. High-level risk-taking is one of the key characteristics of IPs, due to the fact that this type of projects is related to implementation of new ideas. An example illustrates the combination of RBS/WBS for evaluating the risk concentration, called Risk Breakdown Matrix. This research has proven that implementation of the presented approach in the context of the Serbian market can improve efficiency of all phases of the project, especially those related to planning phase.