Success factors for effective R&D risk management

A four-year field study of Enterprise Risk Management (ERM) examines the organisational processes and stakeholder interactions in high-tech R&D projects. The results identify specific barriers and drivers for effective R&D risk management, providing insight into the type of organisational environment and managerial leadership conducive to dealing effectively with risk throughout the R&D project lifecycle. To be effective, managers must understand more than just the tools and techniques of ERM, they must also organise critical support functions and deal with the complex social, technical and economic issues that determine the culture and value system of the enterprise.