Risk determinats in innovation projects – empirical research in organizations

Purpose: The aim of the article is to identify and analyze the key factors determining risk in innovative projects. The research focuses on identifying significant risk categories for six types of innovative projects implemented in organizations. Design/methodology/approach: The study was based on the analysis of surveys conducted among 87 organizations. The questionnaire included questions about the number and dynamics of implemented innovation projects during the indicated period, types of risks in innovation projects, and the most important external and internal factors determining risks in innovation projects. Data were collected using the CAWI technique. Respondents were owners and managers with knowledge and experience in implementing innovation projects within their organizations. Findings: The results indicate that the greatest activity in implementing innovation projects occurred in the surveyed organizations during the two analyzed periods, especially in the investment, organizational, and technical-technological areas. The greatest increase in interest (dynamics) in innovation implementation was observed in projects related to management systems, research and development, and technical-technological areas. Respondents rated the levels of risk related to costs, time, finances, market, and technology particularly highly. Among external factors, changes in consumer requirements and market fluctuations had the most significant impact on risk in innovative projects, while among internal factors, financial- economic and personal factors were the most influential. Research limitations/implications: The main limitations of the study concern the relatively small number of surveyed organizations, which may reduce the ability to generalize the results. Additionally, the analysis is based on subjective assessments by respondents, which may introduce some measurement errors. Practical implications: The article provides practical guidelines for categorizing risks and identifying factors influencing risks in six types of innovative projects. It can be useful for managers and project leaders in identifying potential sources of risk. Particular emphasis is placed on the importance of identifying risk factors to develop effective risk minimization strategies in innovative projects. Originality/value: The originality of the article lies in its comprehensive approach to risk analysis in innovative projects. The obtained results may inspire further research and support practical efforts to more effectively identify factors determining risks in innovative projects within organizations. Keywords: innovation projects, types of innovation projects, risk, types of risk, risk determinants. Category of the paper: Research paper.