Interactive risk assessment tool

Type your response in the appropriate box.

0: not critical/likely
1: modestly critical/likely
2: medium
3: quite critical/likely
4: very critical/likely

Your score will be calculated at the end of the quiz.

Risks connected to the implementation until market introductionHow critical is the factor for the success of your innovation?How likely is it that you will face problems with this factor?
Delay of supplies of technology, buildings and/or raw material
Approval by authorities denied or delayed
Dedicated suppliers not to be found
Staff training needed
''Prototype'' testing needed
Financial resources are fixed/limited
Market risksHow critical is the factor for the success of your innovation?How likely is it that you will face problems with this factor?
Customers reluctant to pay the price that budgets are based on
As the product/service is new and different, customers find it difficult to understand the benefits for them
The product/service receives an insuffient exposure in the firm's marketing strategy and materials
The product/service receives and insufficient exposure in the DMO's marketing strategy and materials
The market for the product/service is turbulent and sensitive to economic changes
Risks connected to the production or delivery of the new tourism product/serviceHow critical is the factor for the success of your innovation?How likely is it that you will face problems with this factor?
Underperformance in terms of quality standards
Debugging and adjustment needed after introduction
Difficulties to recruit staff with key competences to produce/deliver
Staff commitment to this product/service
The new product/service is very different from existing products/services
Maintenance systems
In case of non-delivery compensation to customers will be expensive
Economies of scale needed to ensure a viability
Risks connected to the organization and managementHow critical is the factor for the success of your innovation?How likely is it that you will face problems with this factor?
Top management's time to offer a close follow-up
Top management's competences in terms of this particular product/service
Dependence on the collaboration with other, external partners
Incompatibility in staff organization for this product/service and other products/services
Risks connected to competition and long run perspectivesHow critical is the factor for the success of your innovation?How likely is it that you will face problems with this factor?
Other firms are introducing the same type of product/service
The product/service is rapidly outdated

Your Risk Rate:

If your risk is rated between 0 and 144:

Your product/service innovation is in the safe zone and you are likely to be successful with it. The price may be that your innovation is only an incremental improvement or change of what you already have. Go through all those risk factors which produce more than 9 points and consider an action. Think about the following opportunities:

  • Avoid the risk (change the project plan to eliminate the risk or protect the project objectives from its impacts)
  • Mitigate the risk (seek to reduce the probability and/or consequences of an adverse risk event to an acceptable threshold)/li>
  • Transfer the risk (plan for a risk premium payment by customers)

If your risk is rated between 145 and 288:

Your product/service innovation seems to be changing your concepts in quite some instances, and therefore your risk profile should be considered carefully. It is important that you address all the factors individually and elaborate a risk management plan.
Go through all risk factors where the product of the two rates is more than 9 points and consider an action. Think about the following opportunities:

  • Avoid the risk (change the project plan to eliminate the risk or protect the project objectives from its impacts)
  • Mitigate the risk (seek to reduce the probability and/or consequences of an adverse risk event to an acceptable threshold)/li>
  • Transfer the risk (plan for a risk premium payment by customers)

If your risk is rated between 289 and 432:

Your product/service innovation seems to be very radical in nature, and therefore your risk profile is high. It is important that you address all the factors carefully, and you consider action in each case. Make an comprehensive risk management plan.

  • Avoid the risk (change the project plan to eliminate the risk or protect the project objectives from its impacts)
  • Mitigate the risk (seek to reduce the probability and/or consequences of an adverse risk event to an acceptable threshold)/li>
  • Transfer the risk (plan for a risk premium payment by customers)