Study of Implication of Qualification and Experience in Perception of Risks and Barriers for Innovative Projects
Balkrishna E. Narkhede
Industrial Engineering and Manufacturing Systems, National Institute of Industrial Engineering (NITIE), Vihar Lake, NITIE, Powai, Mumbai, Maharashtra, India.
Yogesh D. Ghadage
Department of Production Engineering, Veermata Jijabai Technological Institute (VJTI), H. R. Mahajani Road, Matunga, Mumbai, Maharashtra, India.
Rakesh D. Raut
Operations and Supply Chain Management, National Institute of Industrial Engineering (NITIE), Vihar Lake, NITIE, Powai, Mumbai, Maharashtra, India.
Department of Mechanical Engineering, State Institute of Engineering & Technology (Formerly known as Government Engineering College), Nilokheri, Haryana, India.
Received on September 12, 2018
Accepted on November 24, 2018
Risks and barriers identification and management in innovative projects is a crucial phase. The risk and barrier evaluation is a critical task for the risk manager. The correctness of the evaluation process leads to effective management of risks and barriers. Effective management of risks and barriers improve the probability of success rate of the innovative projects. The current study attempt to understand the effect of Qualification & Experience (QE) in the perception of risks and barriers. This study intends to conclude on the effect of the above factors in the evaluation process. The evaluation of outcome indicates that the QE factors have their independent perception in the risk and barrier evaluation process.
Keywords- Risk management, Barriers, Innovative projects, ANOVA.
Narkhede, B. E., Ghadage, Y. D., Raut, R. D., & Luthra, S. (2019). Study of Implication of Qualification and Experience in Perception of Risks and Barriers for Innovative Projects. International Journal of Mathematical, Engineering and Management Sciences, 4(2), 289-305. https://dx.doi.org/10.33889/IJMEMS.2019.4.2-024.
Conflict of Interest
All authors have contributed equally in this work. The authors declare that there is no conflict of interest for this publication.
The authors would like to thank all participants in the survey for their active and valuable responses.
Ahmed, A., Kayis, B., & Amornsawadwatana, S. (2007). A review of techniques for risk management in projects. Benchmarking: An International Journal, 14(1), 22-36.
Ajmal M., Malik M., & Saber, H. (2017). Factor analyzing project management practices in the United Arab Emirates. International Journal of Managing Projects in Business, 10(4), 749-769.
Banerjee, S., Srivastava, D. K., & Raut, R. D. (2011). Structuring for innovation-a review. International Journal of Business Excellence, 4(5), 595-620.
Bowers, J., & Khorakian, A. (2014). Integrating risk management in the innovation project. European Journal of Innovation Management, 17(1), 25-40.
Cloutier, A. (2012). Determinants of innovation for property and casualty insurers. International Journal of Business Research, 12(1), 51-68.
Damanpour, F. (1991). Organizational innovation: a meta-analysis of effects of determinants and moderators. Academy of Management Journal, 34(3), 555-590.
Dandage, R., Mantha, S. S., & Rane, S. B. (2018). Ranking the risk categories in international projects using the TOPSIS method. International Journal of Managing Projects in Business, 11(2), 317-331.
Elkington, P., & Smallman, C. (2002). Managing project risks: a case study from the utilities sector. International Journal of Project Management, 20(1), 49-57.
Fan, M., Lin, N. P., & Sheu, C. (2008). Choosing a project risk handling strategy-an analytical model, International Journal of Production Economics, 112(2), 700-713.
Gassmann, O., & Han, Z. (2004). Motivations and barriers of foreign R&D activities in China. R&D Management, 34(4), 423–437.
Guo, Y. (2013). Risk management of uncertain innovation project based on Bayesian risk decision. International Journal of Engineering and Applied Sciences, 4(3), 31-39.
Hadjimanolis A. (1999). Barriers to innovation for SMEs in a small less developed country (Cyprus). Technovation, 19(9), 561-570.
Hernandez-Gonzalez, Y., Garcıa-Moreno, C., Rodrıguez-Garcıa, M. A., Valencia-Garcıa, R., & Garcıa-Sanchez, F. (2014). A semantic-based platform for R&D project funding management. Computers in Industry, 65(5), 850-861.
Isaac, I. (1995). Training in risk management. International Journal of Project Management, 13(4), 225-229.
Jannadi, O. A., & Almishari, S. (2003). Risk assessment in construction. Journal of Construction Engineering and Management, 129(5), 492-500.
Kwak, Y. H., & LaPlace, K. S. (2005). Examining risk tolerance in project-driven organization. Technovation, 25(6), 691-695.
Lindkvist, C., Karlsson, A., Sornes, K., & Wyckmans, A. (2014). Barriers and challenges in nZEB projects in Sweden and Norway. Energy Procedia, 58(1), 199-206.
Luppino, R., Hosseini, M. R., & Rameezdeen, R. (2014). Risk management in research and development (R&D) projects: the case of South Australia. Asian Academy of Management Journal, 19(2), 67-85.
Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Echeverría Lazcano, A. M., & Villanueva, P. (2014), Project risk management methodology for small firms. International Journal of Project Management, 32(2), 327-340.
Mu, J., Peng, G., & MacLachlan, D. L. (2009). Effect of risk management strategy on NPD performance. Technovation, 29 (3), 170-180.
Nassar M. L., & Faloye D. O. (2015). Barrier to innovation in developing countries firms: evidence from nigerian small and medium scale enterprises. European Scientific Journal, 11(19), 196-213.
Oliva, F. L., (2014). Knowledge management barriers, practices and maturity model. Journal of Knowledge Management, 18(6), 1053-1074.
Oliva, F. L., Sobral, M. C., Santos, S. A., Almeida, M. I. R., & Grisi, C. C. H. (2011). Measuring the probability of innovation in technology-based companies. Journal of Manufacturing Technology Management, 22(3), 365-383.
Palm, K., & Lindahl, M. (2015). A project as a workplace: observations from project managers in four R&D and project-intensive companies. International Journal of Project Management, 33(4), 828-838
Rudnik, K., & Deptula, A. M. (2015). System with probabilistic fuzzy knowledge base and parametric inference operators in risk assessment of innovative projects. Expert Systems with Applications, 42(17-18), 6365-6379.
Santos, F. R. S. D., & Cabral, S. (2008). FMEA and PMBOK applied to project risk management. Journal of Information Systems and Technology Management, 5(2), 347-364
Santos, V. R., Soares, A. L., & Carvalho, J. A. (2012). Knowledge sharing barriers in complex research and development projects: an exploratory study on the perceptions of project managers. Knowledge and Process Management, 19(1) 27-38.
Sato. T., & Hirao, M. (2013). Optimum budget allocation method for projects with critical risks. International Journal of Project Management, 31(1) 126-135
Schumpeter, J. A. (1934). The theory of economic development: an inquiry into profits, capital, credit, interest, and the business cycle (English translation). Cambridge: Harvard University Press.
Stewart, R. W., & Fortune, J. (1995). Application of systems thinking to the identification, avoidance, and prevention of risk. International Journal of Project Management, 13(5), 279-286
Teberga P. M. F., & Oliva F. L. (2018). Identification, analysis and treatment of risks in the introduction of new technologies by start-ups. Benchmarking: An International Journal, 25(5), 1363-1381.
Teece, D. J. (1986). Profiting from technological innovation: implications for integration, collaboration, licensing and public policy. Research Policy, 15(6), 285-305.
Turner, J. R., Ledwith, A., & Kelly, J. (2010). Project management in small to medium sized enterprises: matching processes to the nature of the firm. International Journal of Project Management, 28(8), 744-755.
Wang, J., Lin, W., & Huang, Y. H. (2010). A performance-oriented risk management framework for innovative R&D projects. Technovation, 30(11-12), 601-611.
Ward, S., & Chapman, C. (2003). Transforming project risk management into project uncertainty management. International Journal of Project Management, 21(2), 97-105.
Wei, Y., & Lam, P. T. (2014). Innovation barriers at the project level: study of a UK construction firm. International Journal of Architecture, Engineering and Construction, 3(3), 182-194.
Witte, E. (1977). Power and innovation: a two-center theory. International Studies of Management and Organization, 7(1), 47-70.
Zhang Y., & Fan Z. P. (2014). An optimization method for selecting project risk response strategies. International Journal of Project Management, 32(3), 412–422.
Zhang, Y. (2016). Selecting risk response strategies considering project risk interdependence. International Journal of Project Management, 34(5), 819–830.
Zwikael, O., & Ahn, M. (2011). The effectiveness of risk management: an analysis of project risk planning across industries and countries. Risk Analysis: An International Journal, 31(1), 25-37.
Zwikael, O., & Sadeh, A. (2007). Planning effort as an effective risk management tool. Journal of Operation Management, 25(4), 755-767.
Zwikael, O., Pathak, R. D., Singh, G., & Ahmad, S. (2014). The moderating effect of risk on the relationship between planning and success. International Journal of Project Management, 32(3), 435-441.