Year of Graduation
Project Risk Management in Russian Innovation Projects of New Product Development
This study deals with risk management in Russian innovation projects of new product development and following market penetration of the new product, service or technology in the conditions of high uncertainty of project environment and low efficiency of Russian innovation infrastructure. The importance of this issue is based on the interest of government and private sector to innovations as the source of competitive advantages. Meanwhile, the number of Russian innovation projects is increasing and the success of these projects realization has the positive influence on strategic development of Russian economy. The aim of this research is to develop recommendations for risk management in Russian innovation projects and, as consequence, to provide the increase of efficiency and quality of management and investment attractiveness of such projects. According to the results, there were developed the recommendations on the package of risk management methods and instruments depending on the life-cycle stage of the innovation project and its market niche. The main findings also include the exposure to risk of Russian innovation projects, the prevalence of certain strategies of risk mitigation and the correlation between methods and instruments used by the project and the efficiency of these risk mitigation strategies. The recommendations developed are theoretically and practically valuable for the scholars in this field of knowledge, Russian innovation project managers and teams and government and private organizations that are designing innovation development programs.