Sergio Luis ConteHelping to create solutions for everyone| Worldwide based OrganizationsBuenos Aires, Argentina
I belongs to Transformation and Innovation EPMO. Innovation, generally speaking, is the introduction of something new. Each time you introduce something new all your organization is impacted. That is the basement of System Theory applied to organizations. So, in our case, risk management process is the same that in other type of things that will impact the organization as a whole.
I have a difficult question.
I would say that changing objectives associated with benefit have a great impact on true risk identification .
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1 reply by Gary Hamilton
Jan 23, 2017 9:31 AM
Gary Hamilton
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Agree Vincent.
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AKSHAY JAINPlanning Group Leader| YOKOGAWA, BahrainGwalior, Mp, India
No special tool, you need to see innovation and its implementation as project and apply same tools which are applied in project and basic purpose will always be to achieve goals of Project.
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1 reply by Gary Hamilton
Jan 23, 2017 9:30 AM
Gary Hamilton
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Thanks Akshay
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Michael ZiyadehContracts Negotiator Sr. | Sikorsky, a Lockheed Martin CompanyBranford, Ct, United States
Consider the impact of your project on:
Intellectual Property (IP) portfolio and transferring IP (including licenses to IP) to other parties. It is important to understand the value of your current IP and the impact of your project. Will you be taking on any partners, investors, co-innovators? Their share of the risk should be commensurate with their investment.
I belongs to Transformation and Innovation EPMO. Innovation, generally speaking, is the introduction of something new. Each time you introduce something new all your organization is impacted. That is the basement of System Theory applied to organizations. So, in our case, risk management process is the same that in other type of things that will impact the organization as a whole.
No special tool, you need to see innovation and its implementation as project and apply same tools which are applied in project and basic purpose will always be to achieve goals of Project.
Consider the impact of your project on:
Intellectual Property (IP) portfolio and transferring IP (including licenses to IP) to other parties. It is important to understand the value of your current IP and the impact of your project. Will you be taking on any partners, investors, co-innovators? Their share of the risk should be commensurate with their investment.
Gary:
Many organizations I've worked with usually develop one of the below to identify both risk and opportunity. All of these document/deliverables or required documents would identify benefits, risks and opportunities about the innnovation. This usually provide the C-Suite, sponsor, external agency etc with enough information to 1) gauge the risk to move forward with a project for futher discovery, 2) inclusion into the portfolio or business strategy and/or 3) launch of a project to take advantage of a window to get out in front of the competition.
Business Case
Feasibility Study
Concept paper
White paper
Project Charter
Proposal
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1 reply by Gary Hamilton
Jan 25, 2017 9:16 AM
Gary Hamilton
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Thanks Naomi. I've used these tools in the past, and these offer a lot of value.
For any project, reviewing whether the project goals are still aligned with business goals and objectives is vital and this is one way all technology companies are adopting.
For any technological advances or path breaking innovation, I believe still the basic idea is same, just that over and above business objectives and strategic vision of the company there would be numerous risks which has to be considered by management like external factors like competition, currency fluctuation in many cases, regulations, primary markets to be served etc., for this may be one needs effective market research and close collaborations with technical partners like suppliers and customers.
For effectively validating these factors, we have some dedicated teams which does like a check on the scorecard and identifying where we are good and where we are not, like a SWOT. Basically an unbiased team looking at all factors which have been identified in the score card and scoring the project against it.
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1 reply by Gary Hamilton
Jan 25, 2017 9:17 AM
Gary Hamilton
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Ramgopal - I agree. I think this covers the risk scoring. Having the unbiased team performing an assessment based on a pre-determined scoring model is key. This is the approach I have most often used.
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