Risk and innovation in projects
Smith, P., Callagher, L. J., & Siedlok, F. (2015). Risk and innovation in projects: The case of alliancing. Paper presented at In ISPIM Innovation Summit: Changing the innovation landscape. Brisbane, AU.
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This research investigates the relationship between risk and uncertainty, and innovation in large-scale complex infrastructure projects. Looking at alliancing projects, which are known result in significant levels of innovative, we find that, on one hand, the goal alignment inhibits alliance members from off-load risk between each other. On the other hand, the goal alignment fosters a best-for-project mentality which, in turn, underpins the success of alliancing. In alliancing, innovation occurs not as an ends in itself, but rather as the means for participants to do what is best for the project in exceeding the projects goals. For practitioners, this suggests that the off-loading of risk may not always be desirable when one is seeking innovative and innovating solutions.
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