Page 8 - TECOFASH

CHAPTER 1

3.1 Strategies for Mitigating
Innovation-related Risks

Importance of Analyzing Innovation-
O3-A1: Intergenerational approach and collaborative training guidelines
related Risks and Impacts
As a first step partners will develop the methodology for an intergenerational approach as chosen to
Recognize risk as an opportunity: Embrace risks as chances for
•
deliver the training. The aim of this output is to create long term relationships between an
creative problem-solving and breakthroughs.
entrepreneur, responsible for running a retail business and a youth, who will help them introduce

Assess your risks and risk acceptance levels early: Involve
sustainable changes to the business. In order to reach this objective, a framework for the
•
collaboration will be developed. The relationship will be be voluntary and included as such in the
stakeholders in early risk assessments for informed decision-
framework but encouraged in order to maximise participation in the training activity and further
making.
apprenticeship programmes. Partners will explore existing suitable frameworks that can be used in

the RETAIL project. In addition, partners will seek involvement of relevant networks to increase the
Eliminate or mitigate your biggest risks first: Address major risks first
•
project scope. For instance, DCC is a member of the Enterprise Europe Network with EASME
to optimize resource allocation and avoid project derailment.
actively encouraging members to collaborate and engage with all relevant EU projects. Partner will

Realize that small risks can accumulate and even snowball:
•
also explore other relevant programmes such as mobility programmes (Erasmus+, Erasmus for
young entrepreneurs), etc. From this work, a methodological report will be issued.
Continuously assess and manage small risks to prevent potential
compounding effects.

• Never assume risk management will end: Maintain vigilance

throughout the innovation process for successful outcomes.