Launching an innovation is a leap into uncertainty. A lot of things can go wrong and things can happen outside your team and organization.
The purpose of working with risk mitigation is to have a Plan B if something happens.
At the end of your business development phase and before the pitch and delivery of the business report.
A typical structure for risk analysis and planning risk mitigation is shown in the spreadsheet below:
To identify risks you should check your PESTEL-analysis, Porters Five Forces analysis, SWOT-analysis or any information that you gathered through the course.
Focus on discussing risk mitigation for the most important risks.
Risks will often fall in one of the following categories:
But basically much of your business model is based on assumptions assumptions, and any assumption may include a potential risk, if the assumption is wrong.