Management of innovation projects: Australian experience

Abstract

Management of innovation projects is one of the most popular activities of the modern companies. The main difference between innovation projects from traditional project management is that they exist under conditions of high risk and uncertainty. Thus, risk management is an essential part of the process in this context. In order to provide all the necessary information to stakeholders it is essential to make a deep analysis of the external investment environment and the internal capabilities of the company. Risk management can increase attractiveness of the projects. This article considers the experience of Australian steel manufacturing companies. After this, the main risks are identified and the actions to avoid or minimize them are mentioned.