INNOVATION Projects and RISKS walk together. There is not "one" without the "other". Actual times provide us with several SW tools to manage RISK but the most important one is a EFFECTIVE LEAD: - Clear and short communication cycles - Be Straight to the point - Provide clear deadlines - ASSURE the message has been understood - Follow up regularly By being Precise, Clear and Objective you reduce significantly the RISK IMPACT on your project.

We can plan to test ideas at early stage preparing for different outcomes involving cross functional teams and also listening to customer feedback

Successful innovation necessitates a systematic but flexible strategy. We encourage our teams to think imaginatively by creating staged risk gates at critical project milestones. By breaking down new ideas into smaller, testable phases, we can validate concepts early and pivot if necessary. This balanced approach sustains our innovation momentum while protecting project outcomes through effective risk management.

In order to maintain a healthy balance between innovation and risk analysis, incorporate risk assessment at the outset, engage all relevant parties, and conduct scenario planning to highlight possible risks. In creative processes, Agile approaches allow for constant monitoring of risks, which gives room for quick changes without inhibiting creativity.

Evaluate the levels of success during the "innovation" phase for the new product from concept to final deveopment/execution. Be ready to change at any time as factors affecting the success or failure of the innovation will require a certain "nibleness" to optimize return.

Balancing innovation and risk can be achieved through conducting regular risk assessments which will give the opportunity to address any potential risk in the early stages. Encouraging open communication as open dialogue allows for diverse perspectives and helps in identifying potential blind spots. As well as utilizing risk management tools.

Innovation in ever-evolving industry has many risks associated with the projects. We follow the risk mitigation strategy effectively to be prepared for unknowns while focusing on the below: 1. Collaboration with team members and make them contribute 2. Keeping a live risk register throughout the project execution phase which will include all the active risks and status of the known risks. 3. Having a risk mitigation strategies in place and keeping budget aside for known risks simultaneously. 4. Assigning a risk owner to a particular known active risk will be more effective rather than just registering the risk. Having these strategies in place, we are to deal with risks smoothly.