Strategic Decision-Making About Technology-Based Projects: Development and Use of a Risk Reference Framework

Abstract

This chapter describes the development and use of a risk reference framework for diagnosing risks in technology-based projects. The risk reference framework consists of 12 main risk categories and 142 connected critical innovation issues. This framework has been developed for a globally operating company in the fast moving consumer goods industry. The development has been based on data from 114 interviews with professionals in product innovation, in-depth risk analyses carried out for 8 breakthrough projects, input from a panel with experts in product innovation, and an extensive literature review. The use of the risk reference framework as an essential part of a formal risk assessment process is explained.