The process of identifying, evaluating, and prioritizing business uncertainties especially during project planning and execution. Risk management balances the risk tolerance of the project’s key stakeholders as well as the impact and probability of both known unknowns and unknown unknowns.
For more information on risk management, please see the following (free Innovation membership registration needed).
- Risk in Innovation (Part 1 of 2)
- Risk in Innovation (Part 2 of 2)
- Communication Aids Risk Management
A book review of Winning with Risk Management is also available as is a detailed thought leadership paper Strategic Risk Management in New Product Development.
For additional New Product Development (NPD) terms, please view the NPD Glossary.
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