Managing Opportunities, Risk and Uncertainties in New Business Creation - Working Report

Jaakko Paasi, Pasi Valkokari, Pekka Maijala, Sirra Toivonen, Tuija Luoma, Riitta Molarius

    Research output: Book/ReportReport


    This is a progress report of the work done at VTT within INNORISK project, a 3-year (2006-2008) joint research project between the Corporate Foresight Group (Cofi) of Åbo Akademi and VTT Technical Research Centre of Finland, is associated with the LIITO technology programme of Tekes". The focus of VTT's work in the project has been on the development of practical methods and tools for the management of opportunities, risks and uncertainties in new business creation. The INNORISK methods and tools aim to support decision making in companies at critical points of the innovation process when companies are creating new business. The methods help companies to identify phases and elements in their innovation process where specific managerial or development actions are needed. As a result, the fuzzy front-end of the innovation process is no longer so fuzzy. When elements and critical decision points in the front-end have been identified, and information as well as decision criteria needed have been defined, the front-end becomes controllable and actions for new business creation can be co-ordinated.
    Original languageEnglish
    PublisherVTT Technical Research Centre of Finland
    Number of pages40
    ISBN (Electronic)978-951-38-7138-3
    Publication statusPublished - 2008
    MoE publication typeD4 Published development or research report or study


    • innovation management
    • innovation
    • foresight
    • portfolio management
    • opportunity recognition conceptualisation
    • commercialisation


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