REDUCING RISK IN INNOVATION

 

 

 

Reducing Risk in Innovation - What is the job to be done by most managers

 

A successful professional career in engineering, design, product development as well as in the management of innovation programs and organisational functions and operations is determined to a large degree by the ability to deliver projects and products on time, to specifications and on budget and manage and adapt the associated processes and organizational structures that are required to deliver projects and in turn the larger business goals.

A significant barrier to achieving these goals are risks associated with complexity of systems, processes and organizational structures and the interactions and interdependencies between these. Therefore the ability to see risk factors and proactively manage and mount effective responses to these unseen risks and reduce undue complexity is a core skill required of any innovation professional.

DSM provides one of the key methodical foundations for identifying and analysing risk structures at a systemic level. The continuing contribution of DSM to innovation in industry and business is important and requires the continuing support of the higher education and research sector through sound research effort, new tools and methods, and through effective DSM education of innovation professionals.