Generic risk reduction strategies for R&D projects

Abstract

The author provides guidelines to assess the level of technical and commercial risks in an R&D project. Project risks can be reduced by either lessening them or mitigating their consequences. A number of strategies to reduce R&D project risks are presented, and a basis for strategies that reduce the consequences of project risks using the utility concepts is provided. A framework to develop generic strategies to reduce risks is also presented. According to the framework presented, no one strategy is ideal. A variety of strategies to reduce risk can be chosen depending on the level technical and commercial risks.<>