The purpose of this research is to determine the effects arising in the internal and external environment of an innovative project, which is supposed to help make a decision regarding the implementation of the project. For that we have selected about 200 innovative projects of various types of economic activity, such as: services, manufacturing and mining sectors. All projects are implemented in the Republic of Tatarstan. For each of the projects we considered the following types of effects: economic and social for the external environment and technological and environmental for the internal environment. To identify the interconnection between internal and external effects from innovative projects, we used the method of correlation and regression analysis. Implemented innovative projects in the service sector, leading to significant internal technological effect, have a significant impact on the external economic effect and do not affect the external social effect. Manufacturing projects are characterized by a significant impact of internal technological effect on external economic and social effects, while the internal ecological effect has the greatest impact on both external effects. Innovative projects in the mining industry are characterized by a significant impact of internal ecological and technological effects on external economic and social effects.

It is obvious that any innovative activity is associated with risk, but the functioning of Russian innovative companies is the subject to even greater uncertainty. It is due to the lack of government support, the difficulty of forecasting the Russian economy, the influence of external factors, etc. Uncertainty in the context of sustainable development is a source of risk, and it should be reduced by obtaining information, at best, trying to lower uncertainty to zero by obtaining reliable and accurate information. The purpose of this study is a qualitative assessment of the innovative project’s risks of various types of activities implemented in the Republic of Tatarstan. The author conducted an expert survey in the field of innovative economics: representatives of business and science. The expert survey covered the following main areas: qualitative risk assessment of a group of innovative projects and the potential impact of risks on the formation of management strategies that integrate risk management methods that companies plan to use. According to the results of the analysis of the expert survey, it is clear that for innovative projects in the service sector, the most dangerous are marketing, organizational, credit and technical risks. The technical risk is the most critical for innovative projects in the manufacturing industry, as well as the marketing, natural and climatic risk and the risk of lost. As for the extractive industry, technical and natural-climatic risks have the highest probability of occurrence.