Title :
Generic risk reduction strategies for R&D projects
Author :
Bhat, Vasanthakumar
Author_Institution :
Dept. of Manage. Sci., Pace Univ., New York, NY, USA
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
Keywords :
project engineering; research and development management; R&D projects; development; generic strategies; guidelines; management; research; risk reduction; Commercialization; Costs; Guidelines; Investments; Probability; Project management; Research and development; Research and development management; Risk management; Uncertainty;
Conference_Titel :
Technology Management : the New International Language
Conference_Location :
Portland, OR
Print_ISBN :
0-7803-0161-7
DOI :
10.1109/PICMET.1991.183629
