THE DEVELOPMENT OF THE RISK MANAGEMENT MECHANISM FOR INNOVATION PROJECT

Journal Title: EUREKA: Physics and Engineering - Year 2018, Vol 0, Issue 3

Abstract

It is established that the high probability of emergence of risk situations in the innovation project, requires the implementation of risk management measures. It is noted that there is currently no mechanism for distributing of financial risks between the customer and the executor of the innovation project, that is largely negatively reflected in the desire to invest own funds in innovation. The methodological bases of risk management of innovative activity of the project-oriented organization are offered in the article. With the proposed approach, it is possible to estimate in advance how much the proposed risk management measures can reduce the risk of an innovation project and how this activity will affect on the project's effectiveness in deciding whether to continue or stop the innovation project research. On the basis of the existing characteristics of the risk measures of the innovation project, it can be concluded that the best indicator of the effectiveness of a certain stage of the innovation project by the results of simulation is net present value of the project. It is better to use the probability of receiving an ineffective result of an innovation project at an appropriate stage for assessing of the risk of the innovation project and the decision to continue or stop the innovation project at a certain stage.

Authors and Affiliations

Anatoliy Shakhov, Varvara Piterska

Keywords

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  • EP ID EP669019
  • DOI 10.21303/2461-4262.2018.00640
  • Views 255
  • Downloads 0

How To Cite

Anatoliy Shakhov, Varvara Piterska (2018). THE DEVELOPMENT OF THE RISK MANAGEMENT MECHANISM FOR INNOVATION PROJECT. EUREKA: Physics and Engineering, 0(3), 12-20. https://europub.co.uk/articles/-A-669019