Project Risk Management in radical innovation projects

Project Risk Management

in lifestyle and radical projects

VadiK

Inventor

Author

Founder

Risk Management in Lifestyle Projects

Risk management analyzes the possible trade-offs between cost, schedule, and uncertainty.

Risk management strategy represents some kind of rebalancing, of choosing alternative ways to deliver the same results.

Project Management

What Is PM

Key PM Documents

2 Approaches to Project Management

Business Systems

Six Rules of Project Risk Management (RM)

For lifestyle projects, follow these six rules to apply risk management successfully in your project:

1. Focus on future scenarios to identify risks early in your project

2. Analyze risks considering both threats and opportunities

3. Plan risk responses, including responses to risk opportunities

4. Prioritize risks

5. Communicate consistently about risks to your team and project sponsors

6. Make RM a part of your project

Know the Enemies of AI Transformation

A recent study says that 95% of enterprise Artificial Intelligence (AI) pilot projects fail.

Most AI projects don't die because the AI fails. They die because business architects failed to integrate them with existing workflows.

Successful companies spend as much – or even more – time on change management as they do on the AI technology.

Risk Management in Radical Projects

There is practical value in understanding the patterns in and the differences between evolutionary incremental change/innovation projects and revolutionary radical change/innovation projects. This understanding can help you apply right management practices to different types of innovation projects and make the course of radical innovation shorter, less sporadic, less expensive, and less uncertain.

Radical vs. Incremental Innovation

Radical vs. Incremental Change

Radical Project Management (RPM)

Ask Learning SWOT Questions

Most big change and radical innovation projects fail because managerial challenges are very high.

Management of big-change projects, radical-innovation projects, and disruptive ventures involve diverse risks.

Individuals, organizations, existing ties and external players resist change and fight back.

Risk Management InnoBall simulation game

Radical change is hard. Research shows that over 70% of all radical-change initiatives fail.

How To Overcome Resistance To Change

INNOBALL - innovation foodball, brainball - how to create change successfully

Simulation game

InnoBall
(Innovation Brainball) is a great risk management tool.

will help you not just anticipate and reduce these risks, but also turn these risks to opportunities and achieve great results!

Launching a radical innovation / change / entrepreneurial project without playing InnoBall simulation game is like starting a football game naively believing that the opposing team does not exist. But is does and will fight back.